Jim Magats is the SVP of Omni Payments at PayPal. He writes on the payments industry and advice for merchants on their growth journey.
By now, we’re all aware of the shift from physical to digital commerce that’s happened as a result of the Covid-19 pandemic. This trend was progressing pre-Covid-19, but the pandemic put the transition to digital commerce on the fast track. A recent UBS report predicted that e-commerce will increase to 25% of U.S. retail sales, a jump from 15% in 2019. Another symptom of the pandemic? The shuttering of small businesses. A McKinsey report