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Salesforce conducted a survey across the industries to understand the insights on how customers are adopting digital. There were 4,000 commerce practitioners across 25 counties, including 200 from India, as well as analysis of buying data from over 1 billion customers across 54 countries, on how B2B and B2C companies are adapting to a digital-first customer engagement landscape.
It found that sales have grown 44% between first quarter 2020 and Q1 of 2022 at business-to-consumer companies, and 95% at business-to-business companies.
However, e-commerce sites are the tip of the iceberg as sellers race to meet customer expectations for new buying options. Respondents from India expect an average of 48% of revenue to come from digital channels within two years.
The rise of #cryptocurrency as a payment option is forecasted to soar in the coming years. In the meantime, mobile wallets and installment plans are seeing a big boost, Salesforce said in the report. About 71% respondents in India accept at least one mobile wallet option at checkout.
Also, with bottom-lines stretched by inflation — and third-party cookies being depreciated — commerce organisations are focused on putting customer data to work to drive efficiency and profitability. About 62% of respondents say automation will be a priority over the next two years.
Experts say, “While the migration of customers and businesses towards digital channels began much earlier; the pandemic only accelerated the transition. The increased transactions online are both a boon and a challenge for customer-facing teams handling transactions on existing and emerging platforms.
Investments in technology are key to stay on course with the digital wave in the coming years. “Understanding customer dynamics has never been easier considering the amount of data available on individual customer trends.
Running a successful e-commerce business is not a sprint. Businesses require
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The Russia-Ukraine war, inflation, rising interest rates, and slower economic growth have impacted investors' sentiments. Increasing transactions by bitcoin whales is a sign of rising demand from investors and according to a Bank of America survey, a quarter of fund managers anticipate the biggest crypto’s price to pass $75,000 in one year. At the same time, many are predicting it will remain relatively flat, fluctuating between $50,000 and $75,000. Most altcoins have gained more than decent growth. It seems like traders are redistributing their funds between altcoins to avoid Bitcoin exposure. Shiba Inu, Polygon, Solana, and Compound have gained more than decent growth after they were listed on the trading platform Robinhood
A survey found that long positions on bitcoin were more crowded than those on ESG (environmental, social, and governance). In May and January this year, long bitcoin was named the most crowded trade. Bitcoin will recover from the current crypto crash to hit a fresh all-time high of $75,000 by the end of 2022. Experts such as Nigel Green of deVere Group says, the world’s largest digital currency by market capitalisation fell below the $40,000 level several times, weighing down the wider cryptocurrency sector. The total cryptocurrency market is currently $1.89 trillion, down 11% compared to the week before. He explains: “Bitcoin briefly dipped below $40,000, tracking losses in global equities. The correlation with stock markets is currently especially pronounced with the tech-heavy Nasdaq 100 index, which is in tandem more than ever.
It seems investors are reducing their exposure to risk-on assets, including stocks and crypto, due to heightening concerns about inflation and slower economic growth. There’s a growing sense that central banks – including the U.S. Federal Reserve, the Bank of England and European Central Bank - will be unable to achieve a ‘soft landing,’ that’s to say curbing inflation w
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