(Purchase, NY) — The shift to online shopping is starting to rapidly increase. A new report from the Mastercard Economics Institute shows consumers around the world spent 900-billion dollars more at online retailers in 2020 compared to the prior two-year trend. About one out of every five dollars spent on retail globally was purchased online last year, compared to one out of every seven in 2019. The report notes that grocery stores and discount retailers will see the biggest and longest-lasting change to online shopping as they also had the most room for growth in online retail before the pandemic.
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