PayPal and Forrester Research Discuss Creating Shopping Experiences for the Future at FN CEO Summit 2021

During the FN CEO Summit, Frank Keller, SVP of consumer in-store and digital commerce at PayPal, and Scott Compton, senior analyst at Forrester Research, hosted a session on the main stage to discuss what the shopping experience of the future will look like and the role of payments as a strategic partner. Acknowledging that the pandemic accelerated innovation and consumer behavior by five years in just three to six months, Keller said a topic on many retailers’ minds right now is how consumers will look to shop once the pandemic is lifted: Is the way consumers shop permanently altered or will people look to go back to old habits? The simple answer is “yes.” According to data from Forrester Research, while consumers are eager to get back in stores, they will be coming back with higher expectations fueled by digital acumen, research and learned behavior for convenience. “Polishing the omnichannel journey with your customer is a really worthwhile endeavor,” said Compton. “In fact, 97% of shoppers have backed out of a purchase because it was inconvenient for them. We’ve been doing this now for about a year and the customer has become used to interacting with us this way and having fulfillment [options]

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