Online retail sales to exceed $6 trillion in physical and digital goods by 2024, representing a growth of 53% from 2019

19 septembrie 2019

Average Online Customer Spend to Exceed $1,000 Globally per Annum by 2024

New data from Juniper Research has shown that the total transaction value of remote payments for digital and physical goods will exceed $6 trillion by 2024, according to a press release.

The new research, Mobile & Online Remote Payments for Digital & Physical Goods: Opportunities, Pain Points & Competition 2019-2024revealed that online sales will be dominated by physical goods; forecast to account for almost 80% of online retail purchases by 2024. It urged traditional retailers to offer omnichannel offerings to ensure services align with ever-increasing consumer expectations.

‘Mobile First’ Consumers Changing the Payments Equation

Remote payments will be driven by purchases made via mobile devices, with the number of smartphone buyers increasing by nearly 60% between 2019 and 2024. Consequently, just 21% of purchases will be made using PCs, laptops and connected TVs globally by 2024.

The shift to mobile has impacted purchasing behaviour, with the average value of transactions expected to decline by 2024. Underpinning this growth, and the change in average transaction values, is the adoption of mobile ticketing – which is becoming increasingly remote and cashless.

Successful eRetail Strategies for Bricks-and-Mortar Players

Juniper Research assessed the digital strategies of 25 leading bricks-and-mortar retailers according to their levels of agility and innovation. The Home Depot ranked first, owing to its proactive eCommerce strategies and engagement with new technologies, such as augmented reality and analytics, to improve online consumer experiences.

The Home Depot’s retail services are built on an omnichannel strategy; offering customers a comprehensive network of physical stores alongside robust online shopping experiences. Analytics is leveraged to adapt to evolving customer behaviours and AR technology to enable customers to visualise virtual products in the real world via their smartphones.

According to research author, Morgane Kimmich, “Bricks-and-mortar retailers have to go beyond simple eCommerce to become digital-first companies. Retailers must fundamentally embrace the digital era by optimising data analytics and embracing new technologies; enabled by radical internal organisational change.”

Adauga comentariu

Noutăți
Cifra/Declaratia zilei

Nic Marius Balaceanu – Founder & CEO Lendrise

„For more than a week now, ScoreRise enrolls daily hundreds of users through an innovative facial recognition interface. Enrollment takes less than a minute and it does not require presence of a human operator or video recording. And, of course, it stays fully GDPR compliant with help from Reff & Associates and Deloitte Romania.”

Sondaj
Romania este ultima tara membra UE care nu a transpus in legislatia romaneasca Directiva europeana revizuita a serviciilor de plata (PSD2). Cand credeti ca se va intampla totusi acest lucru?
46 votes · 46 answers
Voteaza
NoCash