Merchant Study

Education Merchant Study

2024 Voice of the Merchant Study

Oliver Wyman and the Merchant Advisory Group (MAG) jointly sponsored the 2024 “Voice of the Merchant” study. This is the final report of a three-year series to examine how leading merchants are transforming their payments ecosystems to meet customers’ evolving shopping expectations.

The study included a survey of 50+ enterprise merchants, followed by targeted interviews. Insights were gathered across many industry verticals including:

  • Quick service restaurants (QSR)
  • Grocery/pharmacy
  • Big box retailers
  • Fuel and c-store
  • Travel
  • Telco/streaming services
  • Clothing and other specialty retailers
    graphics of a person swiping a credit card, a person washing their hands, a bike delivery person, and a spray bottle
     
    MAG Merchant Members and Sponsors have access to prior year reports in the MLC.

    Topics studied:

    Which consumer payment methods/services (e.g., Apple Pay, PayPal, QR codes) are supported?

    What % percent of sales did consumer payment methods/services account for in 2023?

    Are supported consumer payment methods expected to change in 2025? If so, how?

    What is the merchants’ share of international payment volumes and how do they operate today?

    How are payments teams organized to support international business?
    If a loyalty program is offered today, which team/function manages the program?

    What role does payments play in loyalty programs today? What role will payments play in loyalty programs in the future?

    What role does personalization play in the loyalty program today? What role will personalization play in loyalty programs in the future?
    What types of activities do merchant payments teams spend the most time on?

    What are the largest omnichannel-related challenges for merchants?

    How have payments team sizes been changing?

    How are acquiring partnerships likely to evolve in the next 2-3 years?

    Which actions have been taken (or are planned) in light of the Fed’s ruling extending debit routing optionality to CNP transactions?

    What specific actions are likely to be taken if the proposed changes by the Fed to regulated debit interchange (Reg II) are formalized?
    2024 VOICE OF THE MERCHANT STUDY
    VIEW HERE
    2023 VOICE OF THE MERCHANT STUDY
    VIEW HERE
    2022 VOICE OF THE MERCHANT STUDY
    VIEW HERE

    NOT A MAG MEMBER OR SPONSOR? ACCESS THE REPORT BY COMPLETING THE BELOW FORM:

    MAG MEMBERSHIP IS MADE UP OF MERCHANTS ONLY
    BECOME A MEMBER TODAY
    The Merchant Advisory Group

    Driving positive change and innovation in the payments industry that serves the merchants interest through collaboration, education, and advocacy.