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U.S. Consumers demand a frictionless payment method for e-commerce

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The number of U.S. consumers using mobile payment is expected to grow up to 125.0 million by 2025, which is why consumers demand a more frictionless payment method for e-commerce. Retailers plan to eliminate the friction by offering multiple payment methods, including buy now pay later BNPL service provided by Affirm, Klarna, and AfterPay. As per the report from PayPal and PYMNTS, 41.8% of consumers opt for BNPL due to its interest rates and clear fees as compared to the 11.2% of credit card users. Another way of reducing the friction is to target the false declines that 28% of the consumers experience while checking out, according to Sapio Research and ClearSale study.

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Consumer Goods industry will surpass $15T globally by 2025. However the old business model of mass distribution is about to become obsolete. Digital Transformation, Millennials and Gen Z effect, Direct to Consumer and Post-Covid World are going to reshape the winning formula for the new era CG industry. Our weekly newsletter covers global innovations and disruptions in CG industry.

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