Faced with economic uncertainty, consumers around the world have become more strategic in their spending habits. Enhanced payment technologies that meet local and global customer needs can unlock new opportunities for online businesses to boost profit margins and drive lasting business success.
In our latest whitepaper, ‘Global Payments Outlook 2023’, we explore the eCommerce and payments landscape of over 28 countries, unpacking how local customers prefer to shop and pay. The US market is geared for tremendous growth in the near future, as its eCommerce sector is projected to register a whopping 84% in user penetration by 2027.
As our research shows, nearly two thirds (65%) of digital purchases were completed via mobile, testifying to the high smartphone adoption across the nation. At the same time, fashion items and electronics are the eCommerce segments performing the best in the country. When it comes to payments, while US consumers tend to favour debit (54%) and credit (46%) cards, POS transactions made via eWallets are expected to soar to S$651.30 billion in 2023.
This infographic gives you a snapshot into what’s popular in the eCommerce and payments ecosystem of the US, aiming to support online merchants in expanding in the region successfully. Download the infographic now to find out how you can accelerate your business growth and create new revenue streams.