New Rapyd Research Uncovers The Importance Of Italy’s Most Popular Payment Methods And The Unique Ways Italians Shop Online.
With global shopping and ecommerce expected to grow at a compound annual growth rate of 17%, Italy is a market not to be overlooked. Italians are open to buying from abroad, with two-thirds (66%) buying online from international merchants. As for ecommerce channels, 35% of Italians shop via computer on a weekly basis while 36% buy via mobile.
That said, online sellers will face some challenges in Italy. The country suffers from higher unemployment, slower economic growth, and lower internet use. During the pandemic, Italians turned to ecommerce, and the number of Italian consumers buying online grew by more than 2 million to reach 27 million. Today many of these purchasing habits have remained for both online and offline transactions.
Italy continues to rank in the top ten of the most profitable ecommerce sales markets worldwide. The tech-savvy population is well-versed in nuances of financial applications and has widely accepted ecommerce as a convenient solution for modern-day life. Businesses need to make sure they are offering the right technologies, credit card processors and payment methods to meet the sophisticated expectations of German consumers.
To assist our clients in their businesses’ cross-border growth and attract and retain more customers, Rapyd conducts an annual survey of consumer payment and purchase behaviors in Latin America, Europe and the Asia Pacific.
Our research uncovered insights into Italians’ preferences for accepting and receiving payments, the way payment technology has evolved in Italy and consumers’ online shopping preferences. The survey was conducted in April 2022 and all respondents shop online at least once a month and are involved in purchase decisions in their households.
ABOUT THE STUDY
In March and April 2022 Rapyd conducted a research study to understand the financial habits, payment method choices, considerations and preferences of consumers in nine European countries. We surveyed 4,286 online consumers in Denmark, France, Germany, Iceland, Italy, the Netherlands, Sweden, Spain and the UK. Consumer respondents represent a full spectrum of household income levels from low to high across each country. Household Income questions were presented in locally relevant amounts and currencies. The survey was conducted online amongst household decision-makers over 18 years of age. To participate, the survey respondents must have made a purchase online in the last month.
