Last September, PaymentGenes had the pleasure of attending Paris Retail Week, one of the leading events in omnichannel commerce. Our team, including Ward Hagenaar and Kirsten Hoornstra from the consultancy team, and Oriane Zandvliet focusing on recruitment services, engaged with industry leaders from the French market. Over three days, we examined the challenges and opportunities retailers face in today’s rapidly evolving landscape, including the adoption of omnichannel strategies, payment innovations, and the increasing demand for talent acquisition.
Are omnichannel payments crucial to your business's survival? Is your talent strategy aligned with the evolving retail landscape? Can data-driven insights transform your customer experience? These are some of the pressing questions we encountered during the event.
Paris Retail Week brings together major brands, retailers, and solution providers to uncover emerging trends and innovations within the retail sector. This year’s event provided a comprehensive look into the future of retail technology, from payment innovations to customer engagement strategies.
During the opening session, organizers announced a groundbreaking partnership with the NRF (National Retail Federation), the biggest retail event in the world. This collaboration aims to transform Paris Retail Week into NRF Europe by 2025, doubling the venue's size and attracting more international speakers, making the event even more influential on the global stage.
One of the primary focuses of Paris Retail Week was the growing need for secure, seamless, and flexible payment solutions. Topics such as online payment security, fraud prevention, and creating a frictionless customer experience were front and center. The event highlighted how businesses can leverage cutting-edge payment technologies, such as mobile payments and secure e-commerce platforms, to stay competitive in an ever-demanding market.
“The future of retail lies in how effectively businesses can merge online and in-store experiences. Payment solutions must be as seamless as the customer journey itself,” - Ward Hagenaar, Head of Consultancy at PG.
Arnaud Bodzon, Head of Payment Group at LVMH, hosted a panel on new trends in payment solutions and fraud. He emphasized three main trends:
Retailers are blending online and offline experiences to offer seamless customer journeys. This omnichannel approach was a major theme of the event, reinforcing the critical importance of integrating digital touchpoints with traditional retail. Businesses that fail to embrace omnichannel strategies may find themselves lagging, unable to meet the expectations of today’s connected consumers. One of the solutions that easily bridges online and offline use cases is BNPL (Buy Now, Pay Later) solutions from the likes of Floa.
Leading international payment service providers like Adyen and Worldpay are offering omnichannel solutions to the French market, with a strong domestic payment provider community also showcasing their offerings.
As Virginie Dangel, VP of Sales for Southern Europe at Worldpay, noted, "Every sale counts, but if we follow this line of reasoning, every non-sale counts too. So the key is to reflect on why it didn't work and how to optimize the customer journey accordingly, both for sales and for refunds." This highlights the importance of constantly improving the customer experience to ensure every potential sale is captured.
Another key takeaway from the event was the emphasis on the power of data. Retailers were encouraged to harness data insights to better understand customer behavior, optimize operations, and create more personalized shopping experiences. In the fast-paced retail world, data-driven decision-making is crucial for staying relevant and competitive.
With corporate social responsibility and sustainability becoming top-of-mind for both businesses and consumers, Paris Retail Week highlighted the need for retailers to adopt circular growth models. These models prioritize environmental sustainability and ethical business practices, ensuring that businesses not only survive but thrive in a world where consumers are increasingly demanding transparency and accountability.
As omnichannel models become more widespread, so does the demand for skilled talent. Oriane Zandvliet led discussions on how PaymentGenes’ recruitment services can help businesses attract and retain the best talent in the retail and payments sectors. By building teams that can adapt to the evolving technological landscape, companies can secure their future success in a highly competitive market.
Oriane said: “Interestingly, several hiring managers mentioned during the event that they are increasingly looking for talent outside of the payment industry. This fresh perspective can help rejuvenate their teams’ vision and approach while also targeting new partners and clients. This trend provides a key opportunity for PaymentGenes to support these new recruits, who may need training on the fundamentals of payment to succeed in their roles.”
To address this, we provide a full learning course on the fundamentals of payments, ensuring that new joiners are equipped with the necessary knowledge to thrive in the industry. Click here to learn more.
“Finding the right talent is crucial for driving innovation in retail. Our recruitment services are designed to help businesses not only meet today’s challenges but prepare for the future,” - Oriane Zandvliet, Senior Recruitment Consultant at PG.
Our experience at Paris Retail Week 2024 was both insightful and inspiring. The event highlighted the best innovations the retail industry has to offer, from cutting-edge payment solutions to enhanced customer experiences.
At PaymentGenes, we are proud to contribute to this evolving ecosystem through our consultancy and recruitment services.
Ready to elevate your business?
Contact us today to discuss how we can help you innovate your payment solutions, strengthen your omnichannel strategy, and hire top talent.
Contact our team Ward Hagenaar, Kirsten Hoornstra and Oriane Zandvliet.
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The Adyen Experience event showcased how leading brands like JET, Rituals, and Adyen are pioneering new approaches in payments. JET shared its recent replatforming to a unified payments system, accelerating new payment method launches and adapting to regional differences like tipping. Rituals focused on enhancing in-store customer journeys with tap-to-pay and tailored recognition features, while Adyen unveiled “Adyen Uplift,” an AI-driven initiative for conversion optimization, alongside practical advice on adopting AI solutions incrementally. This event underscored the importance of strategic, adaptable approaches in payments, inspiring businesses to explore similar advancements.
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At Visa’s Issuer Enabler Open House, industry leaders highlighted key advancements in payments. Revolut is advancing a global retail banking model to overcome traditional barriers, while B2B payments in Europe remain an underutilized growth opportunity. Europe stands out with low fraud rates, driven by secure technologies like 3DS and tokenization, and Visa has enhanced A2A payment security to combat APP fraud. Visa’s partnerships with over 100 EU fintechs and the launch of Visa Flex, a single-credential solution for streamlined card management, reflect its commitment to innovation, integration, and robust security in payments across the region.
