Worldwide spending on digital commerce is estimated to fall by 14% this year, according to a new study by Juniper Research.
Driven by lockdowns due to COVID-19, spending is projected to fall from $11.2 trillion in 2019 to $9.7 trillion in 2020.
Digital ticketing will drop by 59% in 2020 compared to 2019, according to Juniper, which is estimating economic disruption from the pandemic lasting into 2021.
Contactless payments instead of cash and buying groceries online are expected to bolster digital commerce spending over the next five years.
Digital commerce spending is expected to recover in 2021 and exceed 2019 spending by 4%.