Drew Goebel

Recent Posts

Consumers are Spending More Often with Mobile Wallets

 

A recent study conducted by The University of Illinois found that retail purchases increased by more than 23 percent when consumers opted for mobile wallets such as Apple Pay or Google Pay. What that means is that consumers are buying low-cost items more frequently when they opt for mobile wallets. It’s not surprising since prior research has shown that people spend more when using credit cards as opposed to cash. In fact, contactless payments are predicted to drive global card spend to $45 trillion by 2023.

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Can Retail Break This Magic Spell?

If you’ve seen the Jungle Book, you might remember that scene where Mowgli is under the spell of Kaa - the python. He is rescued and snaps out of the spell before he gets eaten but that scene is significant in understanding the state of retail. Today, the offline retail industry is spellbound and believes it is fighting a battle with their online counterparts that it may eventually lose. But if you ask me, this is just a spell which needs to be broken.

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