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


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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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