Holiday mobile shopping projected to hit $314 billion
This holiday season mobile device online shopping is expected to experience a substantial growth, according to a report in Forbes. M-commerce is expected to reach $314 billion in 2020, and will represent 44% of all e-commerce sales, according to data collected by eMarketer.
The pandemic pushed older shoppers to adopt technology due to COVID-19 health concerns and now, a holiday survey by Sezzle found that older shoppers are less likely than before to shop in store as opposed to online.
Additionally, PayPal surveyed small and medium U.S. businesses regarding COVID-19 and the holiday shopping season and more than one third of retailers expect holiday sales to be lower. Stores are generally planning for promotions to start earlier, but for inventories to be lower. Many retailers have already planned to close on Thanksgiving, as opposed to being the prequel to Black Friday sale day.
Source: mobile payments today