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Here are the top tech news you need to know this week.
SAP announces Commerce Cloud on Shoptalk
In conjunction with Shoptalk in Las Vegas, SAP made several announcements, including a new “composable payment solution” and updated consumer research on returns.
SAP's solutions aim to enable retailers and brands to offer shoppers more flexible payment options, such as buy now and pay later. Third-party payment service providers that SAP partners with include Adyen, Airwallex, Stripe, and Worldpay.
The solution, called SAP Commerce Cloud, is an open payments framework that helps retailers and brands “become more agile as new payment options like buy now, pay later grow in popularity,” the company said. said its configurable headless architecture “gives retailers the ability to hand-pick payment partners tailored to their unique needs and international markets, allowing them to build at their own pace and scale their business faster.” , allowing them to avoid being limited to a single provider.”
SAP also said its Commerce Cloud solution is built on a no-code, low-code framework.
Commenting on SAP's go-to-market strategy, Sven Denecken, SVP and Global Head of Product Marketing, SAP Industry and Customer Engagement, said the company's “unparalleled industry expertise is the foundation of our strategy; This will give us a deeper understanding of our strategy.” The complexity of delivering a seamless, positive customer experience that reinforces your brand promise with every interaction. ”
Denecken said the company “puts retailers' digital commerce needs at the forefront with our unique, industry-driven approach to composability, and we work with retailers to manage their digital transformation and drive sustainable growth.” “We will lead the way and meet industry expectations.”
Bolt and Checkout partner on large-scale e-commerce initiative
In a move that is an e-commerce win for retailers, brands, and consumers, Bolt and Checkout.com have partnered to make Bolt “the exclusive one-click checkout provider for Checkout.com, and Checkout.com as Bolt’s preferred as payment partners,” the companies said in a statement.
Terms of the deal were not disclosed.
Checkout.com is “committed to improving conversion performance for our merchants, and our partnership with Bolt provides enterprise retailers with a best-in-class one-click checkout solution,” the companies said. We will also utilize the services of A large shopper network of over 80 million US shoppers and a growing merchant base. ”
Meanwhile, Bolt will integrate Checkout.com into its platform, thereby expanding payment options for new and existing retailers and brands. “By enhancing our payments offering with Checkout.com, Bolt solidifies its position as a merchant-first, payments-agnostic technology provider, offering customers unparalleled flexibility,” the companies said. .
For shoppers, this partnership will create a smoother and more flexible shopping experience.
Bolt CEO Maju Kuruvilla said that by integrating Bolt's checkout technology with Checkout.com's enterprise-grade payment solutions, Bolt will “take advantage of Bolt's rapidly growing shopper network. “By doing so, we are helping our merchants deliver a better shopper experience and higher conversions.” This partnership reflects our merchant-first and payments-agnostic approach, and we are excited to add Checkout.com as our preferred payments partner. ”
Jim Cho, head of North American commercial at Checkout.com, said the company is “constantly pushing towards innovation, and faster checkout is an important part of our overall payments offering.” states. We're working with Bolt to deliver a frictionless checkout experience built on best-in-class payments infrastructure, enabling merchants to deliver seamless transactions and improve customer satisfaction. ”
“This collaboration highlights our commitment to innovation and delivers exceptional value to all of our retail partners,” said Cho.
Survey: US consumers prioritize sustainability despite inflation
Sustainability remains a top priority for consumers, according to Blue Yonder's latest Consumer Sustainability Survey published on Shoptalk, based on the sentiment of more than 1,000 U.S. consumers surveyed last month .
According to the company's researchers, 78% of respondents said that “sustainability concerns are very or somewhat important when choosing to purchase a product or shop at a retail store.” It became clear that there was.
The report also found that 70% of consumers surveyed said they shopped at a retailer that promoted sustainable products at least once in the past six months, which is expected to increase by 2022. The survey also showed that this is in line with the 74% who reported doing so in 2023.
Blue Yonder said interest in sustainability is also growing at a steady pace, with 47% of consumers saying their “interest in sustainable shopping has increased significantly or slightly in the last year.” .
The report's authors say consumer interest is “underlined by consumers' willingness to pay more for sustainable products, with 40% of respondents willing to pay up to 5% more.” 25% said they would pay an additional 10% or more.” ”
Saskia Van Ghent, Chief Sustainability Officer at Blue Yonder, said: “The company is encouraged to see that the majority of consumers are considering sustainability in their purchasing decisions.” Ta. A significant number of respondents said they would like to spend more on sustainable products, given that price concerns were further exacerbated by the continued challenge of inflation and consumer behavior became a prominent topic last year. This is particularly promising. ”
Van Ghent also said that consumers' willingness to spend more is due to “the need for sustainable solutions and practices, not only for the planet, but also to maintain consumer loyalty and trust.” “This should send a clear message to brands and retailers that the investment is worth it.”
Other findings include that 83% of respondents said they would be willing to delay deliveries “if given an incentive to do so,” the report said. “However, there are limits to this flexibility. Only 23% of respondents said they were willing to delay delivery by more than a week.Also, almost half (47%) of consumers said they were concerned about their carbon footprint. They say they are likely or very likely to pay more for greener shipping options, such as smaller volume deliveries or sustainable packaging.”
The survey also revealed mistrust among respondents. “Consumers are looking closely at exactly how brands are implementing their sustainability goals,” Van Gent said. “With more than a third (35 percent) of respondents reporting that they don’t trust brands’ sustainability claims, it’s important for companies to have full visibility into their supply chain operations and support their sustainability claims. is more important than ever: concrete data that strengthens consumer confidence.”
