China’s wallets have gone mobile
The QuickBooks Card Reader lets merchants accept contactless payments and chip cards—helping Intuit move further beyond accounting software and into in-store payments.
On today's episode, we discuss which “digital habits” are just myths, whether travel has reached pre-pandemic levels, whether conversational commerce can take online shopping by storm, social audio getting some new big partners, which platforms creators want to create for, what it would look like if companies were mini countries, and more. Tune in to the discussion with eMarketer principal analyst Paul Verna, forecasting analyst Peter Vahle, and analyst at Insider Intelligence Blake Droesch.
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.