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eCommerce a Covid lifeline for retailers

eCommerce a Covid lifeline for retailers DUBAI, 3 hours, 13 minutes ago As Covid-19 kept consumers around the world at home, nearly everything from groceries to gardening supplies was purchased online. According to Mastercard’s latest Recovery Insights report, this amounted to an additional $900 billion being spent in retail online around the world in 2020. Put another way: in 2020, e-commerce made up roughly $1 out of every $5 spent on retail, up from about $1 out of every $7 spent in 2019.1 For retailers, restaurants and other businesses large and small, being able to sell online provided a much-needed lifeline as in-person consumer spending was disrupted. Roughly 20-30% of the Covid-related shift to digital globally is expected to be permanent, according to Mastercard’s Recovery Insights: Commerce E-volution. The report draws on anonymized and aggregated sales activity in the Mastercard network and proprietary analysis by the Mastercard Eco

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Shoppers spent $900bn more online in 2020, says Mastercard

SHARE Consumers across the world spent an additional $900 billion on online shopping last year, as the Covid-19 pandemic restricted access to physical stores, according to Mastercard. E-commerce made up roughly $1 out of every $5 spent on retail last year, up from about $1 out of every $7 spent in 2019, the credit-card giant said on Wednesday. While consumers were stuck at home, their dollars travelled far and wide thanks to e-commerce,” Bricklin Dwyer, Mastercard chief economist and head of the Mastercard Economics Institute, said. “This has significant implications, with the countries and companies that have prioritised digital continuing to reap the benefits . even the smallest businesses see gains when they shift to digital.”

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Four Ways Consumer Spending Will Change Once More People Are Vaccinated

Here are four predictions of post-pandemic trends, based on surveys and reports by experts: Consumers are still anxious and that may influence what they buy and how they shop. Even after getting a jab, Americans worries about health and safety will likely linger. The U.S. has the highest level of consumers who are most anxious about their health and finances and China has the lowest levels, according to a survey and analysis in January of more than 7,000 consumers across nine countries by consulting firm AlixPartners. In the U.S., nearly one out of every three consumers reported being extremely or very concerned about physical health, and roughly one in four said they were extremely or very concerned about mental health, according to the report published in early April.

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Four Ways Consumer Spending Will Change Once More People Are Vaccinated

Four Ways Consumer Spending Will Change Once More People Are Vaccinated
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United statesJeff harmeningJohn mulliganPiper sandlerRodney mcmullenJack hartungBricklin dwyerInstitute for business valueLevi strauss coChipotle mexican grillWorldwide exchangeMastercard economics instituteBest buyOperating officer john mulliganMastercard economicsGreat recession

Four Ways Consumer Spending Will Change Once More People Are Vaccinated

Four Ways Consumer Spending Will Change Once More People Are Vaccinated
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