If you had told me Australians had been slow to adopt e-commerce I would have had some doubt about this. But looks like we were, however, this has changed dramatically, as has banking in Mexico, and access to the internet in India.
If the world was not digital, it is now and will continue to be.
Below is a synopsis of the impact and the associated data, and demographics. Looking to understand what happened globally or in other industries simply click the links below.
Hard to believe, but we were relatively slow to embrace online shopping. But 2020 has changed this probably forever, as Australians learn the convenience of shopping online. "Between March and April, online shopping increased by 29%." And according to Australia Post "online shopping growth in December was 34.9 per cent YOY."
Imagine 30 million of your closest friends getting access to the internet in 2020! Well, that is what happened in India. But half the country is still not connected. Those that are connected are using e-commerce, distance learning, and digital television.
Banks that have no physical branch welcome to the future of digital banking. For many Mexicans managing money is a new concept; these digital banks educate their customers in financial literacy. Something all banks should take a look to do.