Mobile payment becoming increasingly popular

Mobile payment becoming increasingly popular

Results of the Online Retailer Survey 2022

Online retailers are achieving normal growth again in the aftermath of the Coronavirus pandemic spanning the past two years. At the same time, mobile payment and payment on account are becoming increasingly popular among consumers. These and other insights for Swiss online retail are provided by the results of the Online Retailer Survey 2022.

The Zurich University of Applied Sciences surveyed over 625 online retailers again this year to shed light on the trends and challenges in e-commerce. Following the Coronavirus boom years of 2020 and 2021, growth among Swiss online retailers has now slowed somewhat. The growth rates have reached about the same level as before the crisis.

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What are the success factors in e-commerce?

This question was examined more closely in this year’s study. According to the study, the quality of the products and services offered and the exclusivity of these are among some of the success factors. In addition, successful online shops score top marks with a customer-friendly user experience and the use of optimised digital marketing. The payment solution is also one of the success factors. For example, large and successful online merchants offer a wider choice of payment methods than on average.

How does Switzerland prefer to pay online?

Payment on account, TWINT and credit cards account for the largest share of the total turnover of online shops. The fact that mobile payment is gaining ground among payment methods is shown by the fact that TWINT, along with Klarna, has been able to gain massive market share and importance among merchants. TWINT became the second most important payment method in Switzerland in 2022, which was made possible not least by the strong presence of the uniform QR code developed by Worldline for online and stationary retail. But mobile payment methods such as Apple Pay and Google Pay, which can be offered in e-commerce via the Worldline e-payment solution Saferpay, are also continuing to gain in popularity this year.

What challenges are online retailers facing?

As in other areas of the economy, the major challenges in e-commerce are currently goods procurement and the skilled worker shortage.