In today’s digital landscape, consumer preferences heavily dictate market trends. Modern businesses are now at a crossroads, making data like the recent research from Boku even more important for business owners to consider. In Boku’s 2024 Global E-Commerce Report, the company highlights an essential shift in how consumers are engaging in transactions online.
The most significant shift is in the use of traditional card payments. Boku’s data shows that traditional card payments are no longer the default choice for a growing number of global consumers. This shift marks a major turning point in both the e-commerce and gambling sectors. Innovative methods allow seamless transactions via mobile devices securely and within seconds. For instance, Boku-supported payment has become one of the attractive payment options for casinos.
Adapting to these evolving consumer preferences is essential for businesses to stay afloat in the future. For e-commerce and gambling businesses, the message is clear: remaining competitive and relevant will require a major shift toward implementing these local payment methods. Luckily for Boku, this approach aligns with their core offerings and global presence.
Boku’s flexible approach to adjusting its strategy to modern challenges helps it succeed and have global leading online casinos that prefer Boku as their responsive and reliable payment solution. Casinos such as 20Bet Casino, Neon54 Casino, Goldwin Casino, and many others are already on Boku’s list. When joining a Boku casino, players can anticipate being able to transact using an array of innovative payment methods like crypto. The reason behind these shifts is the dedication to making casino experiences secure, convenient, and truly exceptional.
Boku gathered data from an extensive survey of 10,500 people across 14 countries, giving a deeper analysis of the reasons behind this shift in consumer preferences. Results determined that 37% of individuals worldwide will likely use local payment methods by 2028. It’s more than just new payment methods – it’s about meeting evolving consumer expectations and improving user experiences.
In industries like e-commerce and gambling, which thrive on digital engagement and transactions, incorporating these local payment methods is essential to growth. The gambling sector, in particular, is in a unique position here – trust and convenience are paramount in these transactions, and integrating local payment solutions can improve user experience and increase trust. This sense of security and ease that is no longer provided by traditional card payments can now be offered in a new way to a broad spectrum of consumers.
The full 2024 Boku Global E-Commerce Report contains data from 37 countries across the Asia Pacific, Latin America, North America, India, Africa, Europe, and the Middle East. It includes additional key market statistics, including e-commerce and GDP growth forecasts and regional and country-specific payment trends. Boku also dives into a complete local payment method analysis to give readers full regional summaries and recommendations – invaluable information for businesses looking to expand their services and refine their payment strategies.
An increase in local payment methods may be a surprising shift, but it is one that businesses absolutely must adapt to. Those who can anticipate and adapt to these changes, particularly in the e-commerce and gambling sectors, will be better prepared to meet consumer expectations as time goes on.
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