Innovation, mobile commerce and the future of digital retail

02 October 2017

On 27th September, EIF & MEP Lambert Van Nistelrooij hosted a debate on innovation, mobile commerce and the future of retail in the European Parliament, Brussels. The debate discussed trends in e-commerce and multi-channel retailing; the future of payments; and challenges for policymakers.

Member of Parliament Lambert van Nistelrooij, highlighted that retail is becoming more complex than simply selling goods to customers visiting a store. Modern retailers have to make their goods available via websites and mobile apps, run e-commerce websites in parallel with brick and mortar stores.

Margriet Keijzer from the Dutch Retail Association, stressed that retail is a very innovative sector under a lot of competitive pressures. In her view the future of retail is omnichannel, some retailers have adapted quickly enough and have thrived; however, some have not. Retailers are struggling with the implementation of the data protection regulation and fighting against cybercrime.

Peteris Zilgalvis, Head of Unit at DG CONNECT, gave the audience an overview of the Digital Single Market strategy and its impact on innovation, mobile commerce and digital retail; and EU actions supporting sme’s digitizing to compete and scale up. Retail and wholesale services are key for the EU economy, they make up an 11% of the GDP and provide 33 million jobs that is 15% of total employment in the EU.

For Matthew Mayo, VP at MasterCard Europe, the omnishopper wants an integrated experience across channels, he will buy online but pickup in the shop. The traditional model has been challenged e-commerce is thriving. MasterCard is supporting merchants in taking full advantage of this transformation, engaging with retailers to develop all kinds of solutions.

In this #EIFAsks video, MEP Lambert Van Nistelrooij, Margriet Keijzer from the Dutch Retail Association, Peteris Zilgalvis from DG CONNECT at the European Commission and Matthew Mayo from MasterCard comment on how Europe can foster e-commerce solutions.

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