Adyen’s Food and Beverage Report for 2022 surveyed 1,000 businesses from 23 markets and 40,000 consumers from 26 countries. Key findings include the need for businesses to have digital transformations, make the most of unifying commerce platforms and tap into real-time payments data.
Because of the pandemic, one in seven Australian businesses connected digital payment systems to other parts of their organisations, such as inventory management and supply chain. The move to digital provides a business with a nine percent growth increase and 2022 growth projections that are 11 percent higher than a business that has not connected digital systems. If technological adoption is accelerated, the sector could add 12.4 percentage points to its growth rate over the next five years.
A total of 40 percent of businesses said that unified commerce increased their sales and also provided more targeted data-driven decision-making and seamless experiences for customers.
When it comes to consumers, 56 percent want businesses to link their online platforms with their physical locations for easy ordering. This can include apps or kiosks, and 40 percent said that they are more loyal to businesses that use technology to make experiences quicker and more convenient. 70 percent of consumers won’t buy from organisations that have given them a bad buying experience online in an in-person establishment.
Customers want to have their needs addressed in real-time and be recognised for loyalty.
Only 29 percent of food and beverage businesses globally utilise payment data to understand user behaviour and improve customer experience. While only 28 percent of consumers are willing to give data if there is something in it for them, 21 percent like it when websites or apps use their data to make shopping experiences easier. Conly five percent of businesses have a CRM that can identify when the same customer buys something in an establishment or online.
