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3 new things in retail: Proximity mobile pay, Shopify goes big internationally, and we answer your latest retail questions

Take a look at some of Insider Intelligence's latest retail stories.

1. Proximity mobile pay is on the rise worldwide

The forecast: In 2020, more than 1.18 billion people used proximity mobile payments worldwide, a growth of 22.2% over 2019. By 2022, proximity mobile payments will reach close to 1.35 billion people worldwide as the payment method's popularity increases.

The pandemic forced a big shift in payments worldwide with more retailers implementing contactless payment options and governments encouraging these types of services to reduce physical contact.

In 2021, we project more than 1.27 billion people will use proximity mobile payment users, some 70 million more than we previously expected.

2. Shopify is bolstering tools for international storefronts and marketing

The news: Shopify is scaling up its international ecommerce operations with two recent developments:

  • The ecommerce giant unveiled Shopify Markets, a “global ecommerce hub” that will handle currency conversion, language translation, and more for merchants looking to open their business to foreign markets.
  • It made an investment in and struck a multiyear partnership with Yotpo, a marketing service that handles direct-to-consumer (D2C) marketing like SMS, referrals, emails, and more for digital brands. Yotpo said it will focus on accelerating product development and growth following the Shopify deals.

How we got here: Cross-border commerce slowed considerably in the past year and a half as consumers directed their attention to local businesses to help them weather the pandemic, and as supply chain shortages hampered international business operations. But the opportunity is still large—and growing.

3. Answers to your questions about retail and ecommerce

Earlier this month, our Retail and Ecommerce analysts addressed three developments retailers and brands should be tracking to embrace new opportunities and cater to consumer demands during our webinar titled “A New Era in Retail and Ecommerce Is Emerging.”

More than 1,400 people registered to learn about social commerce, purpose-driven brands, and grocery ecommerce. The audience had lots of questions for our analysts.

Read our answers to your questions on fluid customer experiences, sustainability, and marketplaces here.