In markets with more nascent ecommerce habits and strong adoption of mobile messaging apps, like India and Latin America, many consumers already make purchases via messaging. But in countries like the US and parts of Western Europe where ecommerce habits are established and privacy concerns run high, uptake of messaging commerce will likely be slower. WHAT’S IN THIS REPORT?
Cash has always been king in Japan—and continues to be the primary payment method used. But over the past year, the country has made inroads in becoming more of a cashless society with significant investments in the mobile payments space.
Even as total worldwide retail sales declined by 3.0% in 2020, retail ecommerce growth boomed to 27.6%. Ecommerce growth will decelerate substantially in 2021 to 14.3% as brick-and-mortar sales recover.
In May, Adyen brought its acquiring business to Japan, and the following month to the UAE—two countries where ecommerce is expanding. It also obtained a US branch license, allowing it to expand its capabilities in the country and diversify its US business. Evolving consumer shopping preferences.