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When Home Depot announced last month its plans to acquire HD Supply Holdings , it wasn’t just a sign of expansion for the home improvement retailer. According to Goldman Sachs, the B2B payments space will see volumes topping nearly $200 trillion by 2028, more than five times the volume of B2C payment flows.
Increasingly, growing demand for improved digital services, and the emergence of FinTechs targeting small businesses, has encouraged traditional banks to develop tools specific to their SMB customer base, which was once too big for retail products and too small for enterprise services. The gig economy continues to expand in the U.S.
Traditional brick-and-mortar retailers are rolling out omnichannel options. Retailers are quick to adapt to new consumer expectations, whether they offer faster shipping or an upgraded program offering. Four in ten — or 40 percent — of online purchases are predicted to be delivered within two hours by 2028.
Here are a few striking initiatives that caught my attention in the last couple of months: Issue biodegradable debit cards While Mastercard will require banks to use sustainable materials in issuing new payment cards by 2028, Bank of New Hampshire has been issuing biodegradable debit cards since last August. THAT IS WILD.
We see this expanding, and developing; beacon technology is already in play with some retailers, and drone deliveries are no longer just pure fiction. Indeed, deliveries with an hour of order are a stated aim of some retailers and drones may just be the way to get them there.
It’s something Amazon can do because, as an Amazon ad executive told AdExchanger last year, the company closes the loop between the media spent and the retail channel that gets the sale — because they are the retail channel that gets the sale.
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