[eMarketer] 5G network redefines payments and mobile commerce
Despite being in its early stages of adoption, the 5G network is promising to revolutionize the retail industry as retailers invests in the network to make customers’ experience in-store and online fulfilling and exciting.
This has been bolstered by the growing shift to e-commerce and proliferation of digital retail outlets like Amazon Go and an appetite among consumers to shift to digital shopping and mobile payments.
In June 2020 survey from Periscope by McKinsey 30 per cent of US customers expressed interest in mobile payments while 28 per cent of them showed enthusiasm in embracing mobile app orders. This was a more than 10 percentage points growth compared to a similar study conducted in March 2020.