We are entering the New Year with a bang - the 11th edition of our eCommerce News. Are you curious what is currently popular in the world of eCommerce? Are you interested in deferred payments? Do you dream about a smooth shopping process in every store? Are you constantly checking new ecological solutions introduced by companies? Then check what information we have prepared for you!
Buy now, pay later? Why not!
Have you ever wanted to buy a certain product but you just couldn't afford it? Before you think about taking a quick loan or a low-cost cash advance, check if the store you have visited does not offer deferred payments, also known as BNPL (buy now, pay later). As a part of fintech, the world of tools useful for effective financial management, deferred payments are gaining popularity. It does not require much effort on the part of the company to implement, and for shoppers it makes controlling their private spending much easier.
Where will you find such functionality? The biggest players on the market at this moment are two companies: Czech Twisto and Polish PayPo. Twisto can be found in Pizza Hut, New Balance or W. Kruk stores and PayPo in Answear, MediaExpert, Empik or Sephora. The same possibility was also introduced on the marketplace (Allegro Pay). The necessity to pay for the ordered product can be delayed by a few days, weeks or even a month, all depending on individual needs. The condition is, of course, a good creditworthiness of the buyer, but it is hard not to agree that this is an easier solution than applying for a loan in the bank.
Do they pay off? The answer is suggested by the data collected from online stores that have implemented the described solution. Twisto's report indicates that the companies noticed not only the increase of sales income, but also higher sales conversion or average basket value. 95% of entities positively evaluated the introduction of deffered payments, noticing the overall increase in profits for the company. According to Worldpay, which prepared The Global Payment 2020 report, the value of the deferred payment market amounted to 2,1% of all online transactions worldwide (7,4% in European markets). Financiers predict growth also in the following years (twice as high values by 2024). So it should be pointed out that the above concept has arrived in our country for good.
For more information on deferred payments, see Twisto's May 7, 2021 press release.
A super app tailored for you? Swedes help with online shopping
A virtual credit card app created by Swedish company Klarna – that's all you need to make cashless purchases, from anywhere and in any online store. Who would have thought that for such operations you only need a mobile - you don't even need to have the necessary amount on your account. The only thing you need to do is to download the app, which will be recharged with correspondingly high funds, and then go to the website of any store, order goods and pay. And yes, you can use the deferred payment – without interest. Such an innovative solution you have not seen before, right?
The premiere of the app took place on November 3rd in selected European countries, including Poland. Where does the idea for such an app come from? The creators wanted to:
- provide users with a smooth shopping experience (no need to switch between several apps to complete a transaction),
- eliminate credit inequality,
- ensure processes are quicker and simpler.
According to the producers, such goals are the answer to the needs of a very rapidly growing eCommerce industry. The application has just been created, but we can already suspect that it will be very interesting to follow its development.
If you are interested in this topic, go to producenta and see if it's a solution made for you, too.
Eliminating the Achilles heel of eCommerce? Cooperation between InPost and MODIVO
Rafal Brzoska's name has recently been dominating among all the people interested in the topic of eCommerce supplies, new entities on stock exchanges and foreign markets, or companies achieving incredible success during the COVID-19 pandemic. Once again, InPost made itself heard because of the cooperation with MODIVO (owner of eobuwie.pl from CCC group).Common actions made it possible to introduce reusable packaging, which will help to eliminate, in Brzoska's words, "the Achilles heel of the eCommerce industry": the unbelievable number of disposable packaging ending up in the trash every year. From now on, each product ordered on the website is placed in a package with a return label – via InPost parcel machines it can be returned to the e-shop. Simple, fast and convenient - for comfort of a consumer, and out of concern for the environment.
InPost counts on the fact that thanks to introducing this solution, the demand for packaging will decrease (in an appropriate time perspective) even 10 times. As Rafał Brzoska points out „the eCommerce industry simply cannot do without "modern, efficient and even more ecological logistics". Thus, he encourages other entities to join the project.
With the increasing environmental awareness of society, it is not surprising that companies are looking for innovative solutions to enable recycling and reducing the use of plastic and other harmful materials. Is it possible to take the next step in caring for the environment in the way proposed by InPost? We will follow the topic with interest and wait for the first statistical data.
Read more about the cooperation between InPost and MODIVO here.
