The future of eCommerce: How businesses can meet the changing payment needs of the modern shopper
The future of eCommerce: How businesses can meet the changing payment needs of the modern shopper
The ability to shop online has fast become a baseline expectation for consumers when making purchases. Since gaining mainstream popularity over 20 years ago, eCommerce has continued to experience relentless growth. In fact, global eCommerce sales are expected to total $4.8 trillion this year and represent 23% of all retail sales by 2027
This digital revolution transcends borders, with online retail sales in Latin America expected to increase from 12.3% of total retail sales in 2023 to 15.9% by 2028. In Europe, Spain’s eCommerce sector is estimated to generate $51 billion in revenue in 2025.
There are various factors that will play a significant role in influencing eCommerce’s future trajectory. Namely, changing consumer expectations. How businesses adapt to keep up with these shifting demands – for example, by adopting the latest payment technologies – will determine how successful their eCommerce strategies are in coming years. This article will discuss the key needs of today’s online shoppers and steps businesses can take to ensure they’re meeting them
Speed, convenience and zero friction
Whether waiting for a train, taking a lunch break, or lounging at home, mobile commerce means consumers can make purchases within seconds. To enable these anytime, anywhere shopping experiences, businesses should look to add mobile payment solutions to their offering - for example Digital Wallets, such as Apple Pay or Google Pay, QR Code payments; and Buy Now Pay Later (BNPL) apps such as Klarna and Afterpay.
Today’s consumers also demand payment processes so seamless they’re virtually invisible. Because of this, real-time payments are becoming increasingly popular for online shopping, with Spain leading adoption in Europe at 53% of all transactions (95% of which are made via Bizum). Further, acceleration is evident in Portugal, where MB Way users surged from 520,000 to over five million in just six years, and across Latin America, where Brazil's Pix system facilitated transactions totalling over 27 trillion reais in 2024. In eCommerce especially, Pix’s growth is remarkable: 70% of online merchants in the country are now accepting Pix, withan expectation that the solution will account for 38% of online sales by 2026.
These developments are more than just an expectation for convenience; they’re becoming an essential competitive advantage. Businesses that integrate frictionless, real-time payment technologies will capture greater market share looking to the future.
Trust in transactions
Security is a key consideration for most consumers when making payments online, heightened by data breaches becoming more common across global markets. For instance, this January, Spain’s national Data Protection Authority – Agencia Española de Protección de Datos (AEPD) – issued the highest number of GDPR fines in the EU, including fines for breaches affecting millions of customers. Further, Latin American companies suffer 40% more cyber-attacks per week than the global average.
To maintain consumer trust in eCommerce, businesses must implement robust security measures. Artificial Intelligence (AI) and Machine Learning (ML) are two technologies that are integral to enhancing the security of payments, with sophisticated fraud detection systems able to identify and prevent fraudulent transactions as they happen. These AI applications are strengthened by tokenisation, which replaces sensitive payment data with unique identification symbols that retain essential information without compromising security. This creates an additional layer of protection that renders intercepted data useless to criminals. AI-powered fraud detection uses real-time anomaly recognition and behavioural biometrics to identify suspicious patterns instantly, while sophisticated authentication mechanisms combine multi-factor verification with adaptive risk assessment to validate user identities contextually. Further, biometric authentication methods, like fingerprint and facial recognition, process sensitive data within secure device enclaves to create a frictionless and secure payment experience.
Businesses can also maintain security transparency by offering reassurances through certifications or partnerships with trusted cybersecurity firms. These interlocking technologies and practices create a resilient security ecosystem that protects sensitive data, while maintaining operational efficiency and enhancing customer trust.
The personalisation-privacy paradox
Today’s shoppers also expect their online shopping experience to be fashioned specifically for them. In fact, 56% of Spanish consumers prefer brands that offer tailored experiences. This shift is being reflected by the implementation of AI technologies that can create personalised experiences – such as product recommendations based on browsing and purchase history.
To meet these needs, this year, over 55% of total investments in the Portuguese IT sector are expected to flow toward digital transformation initiatives, with AI playing a central role. This signals an understanding among retailers that meeting rising consumer expectations requires technological advancement. Pivoting towards AI enabled solutions will enable retailers to deliver the tailored experiences that today’s consumer view as standard service.
However, alongside the demand for personalisation, there's growing concern about data privacy. This creates a "privacy paradox" where consumers want personalised experiences but remain worried about how their data is used. Latin Americans are particularly cautious about sharing personal information online, with 41% limiting what they share.
For eCommerce merchants, being transparent about data collection practices is crucial. To truly gain consumer’s loyalty, it’s important to gain their trust. Merchants can earn that through clear communication about how their customer’s data is being used to personalise experiences.
Artificial Intelligence (AI) and Machine Learning (ML) are two technologies that are integral to enhancing the security of payments
AI-powered customer support
AI is also helping businesses transform customer service, which consumers are increasingly demanding to be immediate and personalised. The evolution of AI assistants reflects the growing desire for seamless service experiences - from simple chatbots to complex support systems capable of managing entire customer journeys.
These advanced, AI-powered customer service systems work by leveraging several sophisticated technologies to deliver personalised experiences. Natural Language Processing (NLP) algorithms analyse customer text and speech by extracting intent, entities and sentiment. Deep learning models trained on millions of conversations recognise patterns in customer inquiries, while emotional intelligence capabilities detect subtle tonal shifts, frustration signals and satisfaction indicators by analysing language and voice patterns. These systems then employ real-time sentiment analysis to evaluate customer emotions and generate appropriate responses. Systems access customer history, preferences, and behaviour patterns to create completely tailored interactions.
With over eight in ten Spanish consumers stating that they would engage with support chatbots powered by AI and 56% of Latin American companies reporting positive impacts after using AI chatbots, the merchants that successfully implement these support systems will gain a significant competitive advantage. This will result in enhanced loyalty, increased lifetime value and more efficient operations.
Beyond direct customer interactions, AI is revolutionising other touchpoints in the consumer journey. For example, AI-powered dynamic pricing algorithms can analyse market conditions, competitors' prices and customer behaviours to optimise price points that maximise sales and profits. Further, AI-powered recommendation engines can analyse purchase history, browsing behaviour and similar customer profiles to suggest tailored products at checkout. For merchants this increases the average spend per basket and for consumers it enhances the shopping experience.
Sustainability concerns
Finally, sustainability has become another critical factor determining the success of eCommerce businesses. In Portugal, traffic to sustainability-focused pages on major ecommerce platforms surged by 187% over the past year. Yet scepticism is growing, with 42% of environmental claims by Spanish companies deemed questionable and 58% of "eco-friendly" products lacking proper verification.
To address consumers ongoing concerns, businesses need to be transparent and verify their sustainability claims. Merchants wanting to get ahead in this area should also adopt eco-friendly packaging and educate consumers on environmental topics, to demonstrate their ongoing sustainability commitment.
For eCommerce businesses targeting Spanish, Portuguese and Latin American markets, success will depend on meeting the evolving consumer expectations in these regions. Those who navigate these ever-changing demands by integrating the right innovative technology will be best positioned to thrive in the future.
