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The transition has led to some dramatic changes. In China, nearly 800 million people were connected to the Internet as of the end of 2017, more than double the number a decade prior, according to the China Internet Network Information Center. Of those users, 70% have made a mobile payment and 67% have shopped via a mobile device. China’s enthusiasm for the digital economy – and sheer scale – helps it to stand out, but the digital-first mentality is spreading globally. Companies, in turn, are having to rethink their relationship with customers and invest in digital applications – or risk losing market share.
Source: eMarketer, data are estimates as of October 2018.