The value represents a growth of 53% from 2019.
The research, Mobile & Online Remote Payments for Digital & Physical Goods: Opportunities, Pain Points & Competition 2019-2024, revealed that online sales will be dominated by physical goods, forecasted to account for almost 80% of online retail purchases by 2024.
Other key findings:
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;
21% of purchases will be made using PCs, laptops, and connected TVs globally by 2024;
the average value of transactions is expected to decline by 2024.
Juniper Research suggests that bricks-and-mortar retailers have to go beyond simple ecommerce to become digital-first companies. Retailers must embrace the digital era by optimising data analytics and embracing new technologies.
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