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Data for today’s episode is provided by Mercator Advisory Group’s Viewpoint: 2022 Outlook: Merchant Services
Omnichannel Merchants Capture the Attention of Consumers:
- Overall, 60% of businesses under $10M USD in sales take orders via the web.
- 42% of businesses under $10M USD in sales have mobile ordering capabilities.
- Non-store e-commerce is the fastest growing segment of overall retail.
- Non-store e-commerce is expected to grow by $81.84B to almost $600B in the U.S. in 2022, a 15.8% increase.
- Brick-to-brick merchants, or those that start online and later develop store locations, have a distinct advantage over businesses that start with physical stores.
Mercator looks back to 2020 and ahead to 2022 to provide our perspective on the merchant services and transaction processing ecosystems. Our forecast for this year was very accurate, COVID-19 notwithstanding, and we are confident that our roadmap for next year will be a great resource for you as you develop your strategy for your own business.