As consumer expectations for digital shopping increase, brands must support expedited payments in all of their active DTC regions to maximize conversion rates. Brands with a global footprint must specifically prioritize payment platforms geared toward Chinese consumers, who will account for 41% of global luxury spending by 2025. This cohort has spurred the meteoric rise of Alipay and WeChat Pay, making these payment partners essential for any brands with global ambitions.
Luxury brands have spearheaded many of these payment upgrades in an effort to cater to their inherently global customer base. For example, 25% of non-APAC watch and jewelry DTC sites offered APAC-specific payment options such as WeChat, Alipay, Rakuten Pay and UnionPay. Watch and jewelry brands prioritized APAC platforms in Europe, with 40% adoption in France, 36% in Germany and 29% in the U.K., versus just 6% in the U.S.
Luxury brands like Swarovski and Van Cleef & Arpels leverage global site templates to support APAC payment portals in multiple regions. Swarovski has a consistent check-out template with the ability to toggle between numerous payment categories, from credit to PayPal and Alipay. Van Cleef & Arpels adopts a similar template and enables shipping country and language modification.