We expect US social commerce sales to rise by 35.8% in 2021 to $36.62 billion. That’s only a slight deceleration in growth from 2020, when sales surged by 38.9% thanks to the pandemic-driven boom in ecommerce, increased social media consumption, and brands continuing to leverage these platforms to sell directly to consumers.
At Facebook, the social network is now a shopping network
Apple Pay’s large acceptance network and user base could make it a formidable player in the buy now, pay later space—posing a major threat to incumbent BNPL providers and credit cards.
Sustainability is increasingly top of mind for consumers in China. Many are making lifestyle changes to address the issue, spurred by the country’s many environmental catastrophes, as well as the government’s recent pledge to reduce emissions. And more than ever, shoppers expect brands to offer products and services with eco-friendliness in mind—and for the right price.
US ecommerce sales are projected to continue double digit growth.
China could be ready to launch the digital yuan in early 2022, and India is building a CBDC framework while also warming up to Bitcoin.
Are crypto users ahead of the payments curve?
As brick-and-mortar stores remained shuttered, ecommerce quickly became the channel of choice for many consumers in Latin America. In turn, retailers quickly shifted their attention toward online sales channels to keep pace with consumers’ growing appetite for online shopping.
Many of the national and regional rankings for retail ecommerce sales and growth have changed little since 2020.
Nordstrom wants to be on Top: The retailer bought minority stakes in Asos brands Topshop and Topman among others as it works to bring more, and younger, consumers into stores.
HERO lets online customers connect with in-store retail associates to ask product questions and seek other support—which could help Klarna strengthen its merchant relationships.