The Merchant's Guide to Opportunities in High-Growth Markets
Failure to Localize Payments Could Cost Online Merchants 60% of Sales in APAC
Entering high-growth markets such as India, Singapore and Indonesia can yield huge revenue gains, but assuming that all markets are alike could be a costly mistake, says Worldline’s Andrew Monroe. Failure to offer local payment options could cost merchants 60% or more of their sales in cart abandonment. Read more in the “Global Commerce Tracker®,” a collaboration with Worldline,
Inside the February Tracker
High-growth markets are a powerful draw for businesses worldwide as economic challenges persist, but attendant complexities require a thorough understanding before venturing forth.
Specialty and D2C eTailers have seen cart abandonment rate increases of more than 20% when they do not offer local payment methods.
Experts explain why market research alone cannot replace firsthand experience with local payment methods.