By Shawn Lim

More than $900 billion was spent in online retail in 2020 as Covid-19 kept consumers at home around the world at home bought everything from groceries to gardening supplies through e-commerce platforms.

Mastercard’s Recovery Insights: Commerce E-volution report predicts that between 20-30% of the consumer spending in 2020 which shifted from brick-and-mortar to e-commerce will remain in that category permanently.

It estimates that e-commerce accounted for roughly $1 out of every $5 spent on retail in 2020, up from about $1 out of every $7 spent in 2019.

“While consumers were stuck at home, their dollars travelled far and wide thanks to e-commerce,” Read full story ›

Source: The Drum