Facing an increasingly fragmented market in the digital wallets space, major credit card networks have come together to launch a unified offering: Click to Pay. Prior to 2020, several leading networks operated their own systems.
Representing the next battlefield in the war for consumer attention, social commerce has come to the fore in recent years. Undoubtedly benefitting from the shutdown of bricks-and-mortar stores during the pandemic, social media companies have seen a swell of consumer demand for e-commerce on their platforms, and plenty of retailers aiming to capitalise.
Buy now, pay later (BNPL) services, which give consumers the option of splitting purchases into several, interest-free payments, have enjoyed widespread penetration in other Western countries, while remaining relatively under-utilised in the US. Or at least that orthodoxy did apply until the pandemic triggered a seismic shift towards e-commerce, as well as an economic recession.
Demand for grocery e-commerce reached unprecedented heights in 2020, with consumers eager to avoid in-store shopping, prioritising contactless shopping options instead. This led many grocery retailers to adopt or enhance online services such as delivery and kerbside pickup, employing innovative strategies to keep pace with demand.
Since the onset of the CONVID-19 pandemic, arguably the greatest influence on consumer behaviour has been the need to go contactless. Fear of contracting the COVID-19 virus has forced many consumers to seek digital means for engaging with the outside world.
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