Euromonitor on track with digital shopping trends - eCommerce news #no. 40

One would like to say, "40 Press Releases have been like a day" - for more than 1.5 years now, a compilation of the most important news from the world of eCommerce has appeared regularly on our blog. In the anniversary issue of Press Release you will find waiting for you, among other things, a summary of 8 years of BLIK activity in Poland, digital trends proposed by Euromonitor, and the results of the European Commission's research on unfair practices in online stores. We encourage you to read this and (at least) the next 40 editions to stay on top of the eCommerce industry!

Are e-consumer rights respected in Europe?

On more than one occasion we have described the actions of the Polish Office of Competition and Consumer Protection (OCCP) against unfair practices in the online market (and beyond). Recently, the President of the OCCP examined online stores for compliance with the Omnibus Directive. He also issued decisions on abuse of dominant position by a popular marketplace. All this to protect the rights of consumers, whose position towards entrepreneurs is weaker (due to limited knowledge of the market). With the growing popularity of cross border commerce, how is the situation shaping up for buyers in foreign markets?

The European Commission, together with state authorities from 23 countries (European Union member states, as well as Norway and Iceland), inspected nearly 400 online stores from various industries. What did the research reveal? It turned out that almost 40% of eCommerce platforms use so-called "dark patterns", or manipulative practices, against visitors. What exactly do they consist of?

Dark patterns usually involve designing the UX of a site in such a way that it prompts the user to perform certain actions. The techniques used to do this are varied - the Commission highlights 3 in particular:

• fake countdown timers that put pressure on the buyer when deciding to complete the transaction,
• using graphics, banners and even language selection options to focus the consumer's attention on a particular choice, such as buying a more expensive product or purchasing a subscription,
• hiding important information on the site regarding cheaper options, delivery costs or product composition.

The European Commission is seeking to adapt consumer regulations as best as possible to the realities of the digital age. It is currently working on a new act that will ban dark patterns on online platforms. The Commission is also calling on national authorities to combat harmful eCommerce practices by taking appropriate action in accordance with national laws.

How do you think the proposed changes will affect the functioning of the market in the future? Read more about the European Commission study here.

BLIK triumphs among eCommerce payment methods in Poland

Nearly 2.8 billion transactions with a total value exceeding 370 billion zlotys - these were the results achieved by the operator of the Polish BLIK Payment Standard, which last month summed up eight years of operations in the Poland.

BLIK payments made their debut as early as 2015, but did not immediately generate interest among the general audience. 2018 proved to be a key year. That's when BLIK overtook the then-popular payment method (card payment) in terms of the number of transactions carried out at domestic e-stores. Why did it appeal so much to online shoppers?

Consumers value the speed and security offered by the above method. The report shows that they most often use BLIK when shopping on marketplace platforms and to pay bills. As this form of payment becomes more common, its share in online stores is also growing from quarter to quarter. BLIK's strong position in eCommerce is confirmed by cyclical data from the National Bank of Poland - the results of the first half of 2022 show that the number of transactions made through it was as much as 215% higher than those using the previously mentioned payment cards.

You can find a full summary of the Polish Payment Standard operator's activities by following this this link. Will BLIK maintain its position in the years to come as well?

The future of online stores according to Euromonitor

At the end of last year, we featured an article on our blog providing a subjective summary of eCommerc trends for 2023. In it, we pointed out, among other things, the growing importance of eCommerce overseas or the popularity of reCommerce, i.e. online "second-hand" sales. Euromonitor also prepared its own summary of industry trends, pointing to 5 directions in which digital reality will be heading. What changes await the industry in the coming months?

• Personalization

The company's survey found that nearly 50% of consumers expect a personalized shopping path. Personalized promotions, product recommendations based on purchase history, or customized views based on user preferences are just examples of actions eCommerce owners are likely to take (or even are already taking).

• Game-Changers

This buzzword illustrates another direction in which the creation of online shopping experiences is heading. Rewards and contests significantly increase engagement and build long-term (since they are based on emotions) relationships with users.

• eShopping impacts on the senses

Technological advances are making it increasingly possible to visualize products in the online world. This is why consumers appreciate when eCommerce creates multisensory shopping experiences. What are they? A prime example is virtual fitting rooms, which allow you to see how a particular piece of clothing will look on your silhouette without leaving the house.

Are you curious about what other trends Euromonitor described in its report? Take a look here.