Innovation and ESG to push e-commerce sales to $11 trillion in 2028
Here’s a reason to be cheerful: The global ecommerce market is on a trajectory of rapid expansion, set to reach $11 trillion in 2028, driven by technological advancements, seamless delivery services, and rising internet penetration. With China and the US dominating the landscape, companies must continuously innovate to meet evolving consumer expectations, embrace ESG compliance, […]
Alternative payments now account for 40% of e-commerce in Singapore
Alternative payment methods such as mobile and digital wallets are being widely used in the e-commerce space in Singapore, accounting for 38.6% of the payments made on the online payments in 2023. GlobalData’s e-Commerce Analytics reveals that Singapore’s e-Commerce market grew by 16.9% in 2022 to reach SGD17.2 billion ($12.8 billion). The market is expected […]
Sports present ‘huge opportunity’ for digital payments
As revenues grow, sports are an area where digital payments could look to consolidate its strength, driven by increased global usage of apps and contactless transactions within venues and stadia. GlobalData’s latest report, ‘Digital Payments in Sport – Thematic Intelligence’ reveals that by 2028, it’s expected that only 9% of payments made globally will be […]
Companies ‘must provide more clarity’ around ESG strategies
Despite the growing attention on environmental, social, and governance (ESG) performance, many companies across all sectors, including retail, are still struggling to communicate their ESG strategies to stakeholders, leading to a lack of awareness and understanding of their efforts in this area. GlobalData’s ESG Sentiment Polls Q4 2022 find that 68% of respondents either believed […]
Card payments in China set for post-Covid surge
The Chinese government’s recent announcements regarding the termination of zero-COVID policies and the relaxation of restrictions will drive 3.6% growth in the country’s card payments this year. That’s according to GlobalData, which has analysed a market that was among the fastest-growing globally, but experienced an adverse impact from the COVID-19 pandemic. Ravi Sharma, Lead Banking and Payments […]
Consortiums like Stripe’s can help companies achieve net-zero goals
Consortiums, with a collective goal of reducing carbon emissions, can address common challenges and attract investment from big companies to accelerate and support the implementation of decarbonisation strategies. Vaibhav Gundre, Senior Consultant of Disruptive Tech at GlobalData, said: “There is a growing consensus that to achieve the 2050 net-zero goal requires collaboration among the governments, […]
