News • 03.12.2019

Digital commerce: growth in spend of 66 percent over next 5 years

New study found that global spending on digital commerce will reach $18.7 trillion

young couple shopping online
Source: PantherMedia / Nils Weymann

The new research, Digital Commerce: Key Trends, Sectors & Forecasts 2019-2024, found the largest single digital commerce sector is the remote purchase of physical goods, which will have driven just under 27 percent of all digital commerce spend by the end of 2019. 

The eCommerce market is being accelerated by digital-native merchants and renewed focus from traditional ‘brick and mortar retailers’, who are offering differentiated omnichannel experiences in order to secure future revenue streams. Juniper Research highlights the user experience via digital channels as the crucial next battleground for retailers. Reduced friction in the checkout process, despite increased security requirements, is an essential requirement for future success.

Money Transfer Digitisation Accelerating

The new data found that digital money transfer is one of the main drivers for increasing digital commerce spend; forecast to grow by 85% over the next 5 years. Juniper Research identified domestic money transfer as a critical element, with increased activity in emerging markets a key contributor to the overall market value. Research author Nick Maynard explained: “Domestic money transfer is being heavily disrupted, with mobile-first services displacing the traditional role of cash in emerging economies. Partnerships with international merchants and wallets will enable these markets to participate in eCommerce on a scale previously thought impossible”.

IoT Payments Gaining Traction

The research also found that payments from IoT devices, primarily in the smart home and via connected vehicles, will reach over 32 billion transactions by 2024. This compares with just under 1.8 billion transactions in 2019, as these new channels achieve customer recognition and acceptance. However, the research also predicted that these new channels will not represent new consumer spend; they will largely be driven by migration from traditional card spend, or will cannibalise other digital channels. Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

Source: Juniper Research

related articles:

popular articles:

Thumbnail-Photo: Upturn for brick and mortar retail in city centres?...
17.07.2020   #brick and mortar retail #customer relationship management

Upturn for brick and mortar retail in city centres?

Economic development and city marketing about current measures

Bonn's inner city – like all other cities in Germany – is struggling with the consequences of the Corona lockdown. We asked directly on site what support there is from the economic development and city marketing departments. This ...

Thumbnail-Photo: Grocery consumers increasingly anxious about rising food prices...
31.08.2020   #customer satisfaction #customer analysis

Grocery consumers increasingly anxious about rising food prices

U.S. had the largest increase of any country in the dunnhumby Worry Index, corresponding to strong uptick in U.S. COVID-19 cases

dunnhumby, the global leader in customer data science, today released findings from a multi-phased, worldwide study of the impact of COVID-19 on customer attitudes and behavior. The dunnhumby Consumer Pulse Survey found that the U.S. ...

Thumbnail-Photo: Job maker 4.0: e-commerce
27.05.2020   #online trading #e-commerce

Job maker 4.0: e-commerce

Retail training and continuing education programs are booming

Digitization in retail and e-commerce growth present fresh challenges for retail employees and the retail world. That’s why interest in the new "E-Commerce Merchant" dual vocational training course offered by Germany’s HDE ...

Thumbnail-Photo: AfterPay: Survey on the shopping behaviour of Germans...
20.07.2020   #online trading #e-commerce

AfterPay: Survey on the shopping behaviour of Germans

German consumers will make a larger share of their purchases online in July

AfterPay Insights’ end of June research – now covering more 7.400 interviews with German online shoppers – indicates that German consumers will reduce their overall purchases in July. But at the same time, German consumers say ...

Thumbnail-Photo: WhatsApp Business: A direct line to customers...
29.05.2020   #customer satisfaction #customer relationship management

WhatsApp Business: A direct line to customers

About the installation, functions and advantages of the app

WhatsApp is a popular communication channel used by millions of people worldwide. Now small and medium-sized retailers or restaurants can use WhatsApp Business to quickly and easily engage and interact with their customers and build customer ...

Thumbnail-Photo: 3 steps to personalisation in e-commerce
04.08.2020   #online trading #e-commerce

3 steps to personalisation in e-commerce

How retailers can build trust and foster customer loyalty

The COVID-19 pandemic has left a visible mark on the retail sector, and companies have had to find new ways to reach consumers effectively in a very short time. Many companies that had previously focused on stationary retail have expanded their ...

Thumbnail-Photo: Custom-tailored: new in-store safe shopping journey solution...
13.05.2020   #consulting #brick and mortar retail

Custom-tailored: new in-store safe shopping journey solution

Suitsupply reinvents retail experience including virtual pre-shopping

Suitsupply, the global men's tailoring brand built on radically personal customer experiences, launches new retail journey as stores reopen. The upside of being global, and the staggered timelines of the outbreaks around the world, is the ...

Thumbnail-Photo: Smart clothing to drive fitness wearable revenue...
10.06.2020   #trend research #fashion

Smart clothing to drive fitness wearable revenue

New report forcasts a rise of 11 billion Dollar by 2025

A new report from Juniper Research forecasts that annual revenue of integrated fitness clothing will rise from approximately $1 billion in 2020 to $11 billion in 2025. This rapid growth, boosted by higher pricing, will see smart clothing become the ...

Thumbnail-Photo: Virtual pop-up stores
29.06.2020   #virtual reality #pop-up store

Virtual pop-up stores

Here today, change Up tomorrow

They spring up like mushrooms, only to vanish again shortly thereafter – pop-up stores are trendy and now they also increasingly “pop up” online. We spoke with Mohamed Haouache, CEO and Founder of Storefront, about the magical ...

Thumbnail-Photo: COVID-19: Study reveals impact on hourly workforce...
04.05.2020   #online trading #e-commerce

COVID-19: Study reveals impact on hourly workforce

78 percent are worried about making ends meet during the pandemic and 47 percent have less than $1,000 in savings

Bluecrew, the staffing technology platform connecting job seekers with W-2 protected hourly work, released new survey results which indicate hourly workers are bearing the brunt of unemployment and uncertainty in the face of the COVID-19-fueled ...

Supplier

POS TUNING Udo Voßhenrich GmbH & Co KG
POS TUNING Udo Voßhenrich GmbH & Co KG
Am Zubringer 8
32107 Bad Salzuflen