According to a recent Juniper Research report, a growth of 53% from 2019, from the total global transaction value of online payments for digital and physical goods will exceed US$6 trillion by 2024.

This  new research report entitled, Mobile & Online Remote Payments for Digital & Physical Goods: Opportunities, Pain Points & Competition 2019-2024, revealed that almost 80% of online retail purchases by 2024 will be dominated by physical goods.

It was also stated that the shift to mobile has impacted purchasing behaviour, driven by smartphone buyers making purchases via mobile devices - will see an increase by nearly 60% between 2019 and 2024, with just 21% of purchases made using PCs, laptops and connected TVs globally by 2024.

Because of this, Juniper recommends traditional retailers to offer omnichannel offerings to ensure services align with ever-increasing consumer expectations.

On this research, Juniper assesses 25 leading bricks-and-mortar retailers and their existing digital strategies. Due to its proactive eCommerce strategies and engagement with new technologies such as augmented reality and analytics, to improve online consumer experiences, Home Depot retail services ranked first.

Morgane Kimmich, research author, concluded “Bricks-and-mortar retailers have to go beyond simple eCommerce to become digital-first companies. Retailers must fundamentally embrace the digital era by optimising data analytics and embracing new technologies; enabled by radical internal organisational change.”

Source: iTWire


Least-Cost Routing Explained

Download the PDF and receive a free annual membership offer

Find Out More

Latitude Financial brokers make 'digital pitch Posted on: 11-10-2019

Latitude Financial brokers make 'digital pitch

Latitude Financial Services, credit cards and consumer finance company, has kicked off marketing for its run at the ASX-boards, with sponsor brokers sending detailed "investor education" reports to fund managers.

Read More

Queensland boosting income from China with Alipay partnership Posted on: 10-10-2019

Queensland boosting income from China with Alipay partnership

The world’s largest online payment platform Alipay, help boost Queensland’s inbound tourism industry.

Read More

From smart carts to computer vision, checkout innovations are multiplying Posted on: 09-10-2019

From smart carts to computer vision, checkout innovations are multiplying

Established technologies like self-checkout and scan-and-go are stepping up their game as tech firms race to bring the Amazon Go experience to supermarkets.

Read More

‘By retailers, for retailers’: New Zealand buy-now-pay-later platform Laybuy launches Down Under Posted on: 01-10-2019

‘By retailers, for retailers’: New Zealand buy-now-pay-later platform Laybuy launches Down Under

Laybuy promised Afterpay a run for its money by offering Aussie retailers access to 500,000 Kiwi shoppers, after its official launch in the Australian market.

Read More

Square Terminal Launched in Australia to Exploit Opportunities in Digital Payment Space Posted on: 27-09-2019

Square Terminal Launched in Australia to Exploit Opportunities in Digital Payment Space

Square, has launched Square Terminal in line with the expansion of its portfolio of hardware services in Australia.

Read More

Twitter's Jack Dorsey Squares up against Aussie banks with new eftpos terminal Posted on: 25-09-2019

Twitter's Jack Dorsey Squares up against Aussie banks with new eftpos terminal

“New hardware, no merchant service fees, flat $439 price, 1.6 percent clip.”

Read More