Local or international, consumers prefer businesses using recognizable payment methods find PayU

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PayU, the online payment service provider operating in more than 50 emerging markets, announced the results of its US survey which reveals a big opportunity for international merchants to capitalize on domestic unmet US consumer demand.

The survey found that nearly half (48%) of Americans who shopped online from overseas-based retailers in the past year did so at least once a month. Additionally, more than half (53%) have purchased products from China in the past 12 months. Besides China, Americans bought products from Europe (33%), Canada (28%), Southeast Asia (21%) and Latin America (21%).

This US consumer survey, commissioned by PayU, highlights barriers and opportunities for international merchants when it comes to driving cross-border payment adoption in the US.

Looking at those who have not shopped online from abroad in the past 12 months, only a quarter of this group (26%) said the feeling that they should support stores located in their own country was a reason not to do so. Additionally, only 30% of those who did not shop online from overseas-based retailers said it was because they could get everything they needed from US-based retailers. . Both of these views represent a major opportunity for international traders.

A significant barrier to shopping online from abroad for nearly a third (29%) of those who had not made purchases this way in the past 12 months was high delivery costs (including tax ). For those aged 18-24 who had not shopped online from abroad, the main reasons for not doing so were high delivery costs and complicated return processes (23%), while that only 6% of people in this age group said they could get everything they needed from local retailers.

Fashion, shoes and bags were the most popular items with US consumers, with one-third (31%) having purchased or said they were considering purchasing these products overseas in the past 12 months. Next come electronics (phones, tablets, laptops, computers, including accessories and peripherals) (29%), books (26%), toys, hobbies and DIY (25%).

Payment methods are a key factor for American consumers

The survey also showed that payment methods are a key factor for American consumers when it comes to shopping abroad, with 55% of Americans saying they would look elsewhere or not at all. purchase if their preferred payment method was not available.

In addition, nearly three-quarters (73%) of respondents said they felt safer shopping online – whether domestically or internationally – if they recognized the supplier’s brand. payment service provider, with 36% of respondents saying that their knowledge of the payment service provider influences their purchase decision.

The data also showed that when shopping online from overseas-based retailers, the appetite for buy-it-now, pay-later is still relatively low in the US market, with only one in 10 Americans having bought abroad in the last 12 months using the option. This compares to 55% of respondents who indicated that they use credit cards most often.

mario Shiliashki, PayU’s CEO, Global Payments, said, “It’s clear that the trend to shop internationally is accelerating, even in well-served markets like the United States. This growing trend represents an increasingly attractive opportunity for distributors to boost their growth by expanding their business outside their country of origin.

“To capitalize on this opportunity, it is important that merchants have the right technology partners to navigate the complex payments and logistics landscape to deliver the best shopping experience to consumers locally – a critical aspect of this. is to optimize their ability to offer the most relevant payment methods in all the markets in which they expand.”

  • Francis Bignel

    Francis is a journalist with a bachelor’s degree in classical civilization, he is particularly interested in North and South America.

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Elaine R. Knight