But with retail foot traffic increasing, retailers may want to reevaluate their online and offline strategies.
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Mastercard's Recovery Insights
report highlighted the scale of the pandemic-driven digital shift in 2020—as well as what to expect going forward.
Mastercard highlights major ecommerce shift.
Insider Intelligence
Here are the big takeaways:
Global consumers increased online spending by $900 billion in 2020. This translates to ecommerce making up $1 for every $5 spent on retail in 2020, compared with $1 for every $7 in 2019. The surge in ecommerce spending was driven by pandemic-induced