B2B Payments. US B2B payment volume was set to hit $25.569 trillion in 2020, marking a slight decline—but, like other sectors, share will shift toward digital faster than in the past. B2B payments, which represent the largest sector of overall US payment volume, were growing at a slow and steady rate until 2020, when the overall economic downturn plunged spending across the board.
In fact, May 2020 research from the World Federation of Advertisers found 35% of agency respondents received feedback from their clients on an annual basis. For 21% of those respondents, performance evaluations were an annual occurrence with a midyear “light touch” review, while 16% did quarterly feedback sessions and 14% had an ad hoc system in place.