Mastercard Recovery Insights Study
04/07/2021 • Customer news
According to the latest global survey by Mastercard, online spending increased by as much as $ 900 billion last year compared to 2019. In other words, every fifth dollar that was spent globally last year was spent on online payments and shopping, and is expected to between 20 and 30 percent of the acquired habits regarding online shopping are permanently maintained.
As the Covid-19 pandemic left consumers around the world at home, almost everything, from groceries to garden supplies, was bought online. For retailers, restaurants and other large and small companies, online sales opportunities have been a much-needed lifeline as consumer spending at physical outlets has been disrupted, and approximately 20-30% of the global digital technology shift caused by the pandemic is expected to be permanently.
The report relies on anonymized and aggregated data on sales activities performed through the Mastercard network, as well as on an analysis conducted by the Mastercard Institute of Economics. The analysis provides a deeper insight into what this means for each individual country and the goods and services sectors, both at the market and cross-border levels.
For more information please visit the link.