Digital commerce spend set to exceed USD 11.6 tln in 2021, Juniper Research finds

Tuesday 4 May 2021 14:46 CET | News

Digital commerce spend is set to exceed USD 11.6 trillion by the end of 2021, a 11.5% growth from USD 10.5 trillion in 2020, a new study from Juniper Research finds.

According to the company, the spend encompasses money transfers, digital goods purchases, physical goods purchases, digital ticketing purchases, banking bill payments, NFC mobile retail payments, and QR code retail payments. Based on the research, the company informs that the success of digital solutions during the pandemic means that consumer behaviour will become increasingly digitally led, rather than reverting to pre-pandemic norms.

The research, Digital Commerce & Opportunities for Post-pandemic Growth, found that m-commerce will account for 73% of all digital commerce transactions by value in 2021, rising to 79% by 2025. Juniper Research informs that mobile has emerged as the most important way to access services, and although online will remain relevant for higher-value transactions, user experiences must be mobile first.

Furthermore, the research has also found that remote physical goods purchases will account for the single largest transaction value of any segment in 2021 at 22% of the total, followed by money transfer and QR code payments. However, the research has identified that contactless mobile payments will have the highest rate of growth, increasing over 242% in value between 2021 and 2025, as OEM Pay services add spending insights and other value-added services to consolidate gains made during the pandemic.

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Keywords: Juniper Research, mobile payments, QR code, ecommerce, online payments
Categories: Payments & Commerce
Countries: World
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Payments & Commerce

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