A new study from Juniper Research has found that global spending on digital commerce will fall by 14% in 2020, from USD 11.2 trillion in 2019 to USD 9.7 trillion.
The new research, Digital Commerce Coronavirus Analysis: Impact Assessments & Market Forecasts 2020-2024, identified the digital ticketing area as particularly at risk, given the effect of widespread lockdowns on transport usage and events. It found that digital ticketing spend will drop by 59% in 2020 compared to 2019. Airline ticketing will struggle to recover fully over the next 5 years, as airlines face unprecedented cashflow challenges which are set to reshape the face of the industry.
As a result of enforced changes during the pandemic, such as using contactless payments instead of cash, or buying groceries online, there will be permanent changes in consumer behaviour to the much greater use of digital services, which will bolster growth in digital commerce spend over the next 5 years.
The research also forecasts that payments for digital goods, such as digital games or video subscription services will continue to increase during the pandemic, as users on lockdown use digital services more extensively.
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