Five pandemic trends that will shape the future of digital payments

How consumers make purchases could permanently change following the COVID-19 pandemic, a shift that will require marketers to reconsider this stage of the buying process.

Why it matters

Understanding how, when and where consumers pay for items can assist marketers in adapting their strategies and successfully guide people towards conversion. Shifts in favor e-commerce can, for instance, limit impulse purchases but encourage bulk buys and subscriptions.

Takeaways

  • Bots and comparison services can de-couple purchases and payments in interesting ways, with e-commerce vendors often competing to attract custom in this environment.
  • At a time of financial hardship for many consumers, online coupons and monthly payment plans will be increasingly popular.
  • “Showrooming” – where consumers browse in brick-and-mortar stores and buy online – could be a...

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