Retail Report 2022<\/a> gave us the valuable answers we were seeking,” said Mr. Maertens.<\/p>\nAccording to this report, said, Mr. Maertens, 83 per cent of UAE shoppers are more likely to shop with retailers that use technology to improve their shopping experience, creating a huge opportunity for brands that get it right.<\/p>\n
Using payment-linked loyalty programmes<\/h3>\n
“One of the solutions that would actually be appreciated by customers is \u201cpayments-linked loyalty\u201d. According to our survey, 86 per cent of UAE shoppers expect retailers to use technology to make their loyalty programs easier and more effective, and 68 per cent are more likely to shop with a retailer if their loyalty program works automatically through their payment card. At Adyen, we help our retailers by linking their loyalty program to the shopper credit card.<\/p>\n
“This will allow retailers to link their loyalty program across all their sales channels through one platform. Shoppers will no longer get frustrated when forgetting their loyalty cards as it\u2019s now automatically linked to their payment card. On the other hand, it saves retailers from spending money and the hassle of building an app to track their loyalty points.” Mr. Maertens added.<\/p>\n
Using technology in-store<\/h3>\n
Another notable finding from the Retail Report 2022 is that in-store shopping experiences are very important to UAE shoppers. 83 per cent said they are more likely to shop at stores that use technology to improve their shopping experience. The potential is limitless, from an endless aisle where customers can check additional stock for home delivery to offering new ways to pay via QR codes or mobile payment terminals.<\/p>\n
According to the report, the same thing is happening in the UAE’s hospitality industry. 67 per cent of guests believe technology can improve their dining experience. But, which innovations should hotels prioritise?<\/p>\n
“CitizenM Hotels is a good example of a company that uses technological innovations to improve the guest experience. They used our all-in-one payments platform to securely tokenise payment cards, allowing guests to move around the hotel with ease and convenience. Guests can pay for drinks and meals at the bar or restaurant using their room card without having to present their card, enter a code, or sign a bill,” said Mr. Maertens.<\/p>\n
Using flexible payment and return options<\/h3>\n
Meanwhile, the report said that only 31 per cent of UAE retailers let consumers buy things online and return in store, but a massive 73 per cent of shoppers said they would be more loyal to such retailers.\u00a0 This implies that there\u2019s a significant expectation gap and huge opportunity here for UAE businesses to avail.<\/p>\n
“Relying solely on physical stores with helpful staff and an exciting environment alone won\u2019t cut it in the UAE. Businesses need to think about the bigger picture to stand out by offering an omni-channel experience,” the report added.<\/p>\n
Using payments data for personalisation<\/h3>\n
Moreover, there is untapped potential in real time payments data. Globally, businesses use payments data to build a better picture of customers and to drive personalised marketing campaigns, among other reasons. According to Adyen’s data, 7 out of 10 UAE consumers prefer retailers to use their data to create a better personalised customer experience. That\u2019s almost 50 per cent more than the global average.<\/p>\n
But only 37 per cent of UAE businesses use payments data for this reason. Meanwhile, 70 per cent of UAE consumers like it when retailers serve them with personalised adverts. With this large demand unfulfilled, there is\u00a0plenty of potential for fintech companies to tap into.<\/p>\n
“In other words, think before you invest in new solutions. Don\u2019t implement new tech innovations just for the sake of innovation. Find what your shoppers\u2019 pain points are and only then invest in solutions that can actually benefit your shoppers” concluded Mr. Maertens.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
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