In just six intense months we have navigated a lot of unchartered waters so far this year. By all accounts we should be preparing for even more uncertainty to come. But how exactly?

Following the unprecedented health and economic crises caused by the COVID-19 global pandemic at the start of 2020, Nexway wanted to better understand the impact the crisis is having on e-commerce and payment priorities for the rest of 2020 and beyond.

We reached out to our customers, prospects and partners to conduct a health check of today’s market. Here’s a first look at what we learned from e-commerce decision-makers like you.

E-commerce & Payments Health Check

Most companies saw impact on sales, either negative or positive, while some others experienced little change in customer purchasing during the crisis.

Those companies with a strong online presence saw little need to change their strategic objectives, while companies dependent on in-store traffic or a single sector are having to pivot.

SALES MODEL RETHINK

While the immediate impact on sales has been mixed, depending on the company and industry, overwhelmingly the crisis has been a clarion call to most businesses to re-evaluate their sales model.

A digital dominant model is now of primary importance, whether that means finally putting one in place, or improving on what you already have.

FUTURE PROOFING

Some aspects of this crisis are simply beyond our control. Addressing the areas we can control will help companies better navigate the rest of the crisis and help safe-guard them for the years to come.

Nexway’s research found that businesses are grappling with many issues related to how they sell and distribute products to customers. In many instances, technology plays a key role in helping them tackle these challenges and prepare for whatever the future may hold.

ABOUT OUR GLOBAL SURVEY

This analysis is based on 37 responses to Nexway proprietary research from June 2020. Survey participants comprised a mix of service providers, game publishers, software providers, Saas and retailers. They were based predominantly in Europe (54%), AsiaPac (27%) and North America (11%).

Look for our full research report on E-commerce & Payment Priorities coming soon in November.