NOV 2021

Insider Intelligence Analysts

Top 10 Trends
in 2022
A Guide to the Biggest Developments in Our Coverage Areas

Contributors: Paul Briggs, Matteo Ceurvels, Suzy Davidkhanian, Eleni Digalaki, Blake Droesch, Jasmine Enberg,
Bill Fisher, Andrew Lipsman, Lisa Phillips, Audrey Schomer, Karin von Abrams, Debra Aho Williamson, Yorum Wormser
 Top 10 Trends in 2022: A Guide to the Biggest Developments in Our
Coverage Areas
The past two years amid a global pandemic have accelerated digital transformation and consumer behavior in ways few
experts could have anticipated. As we move into 2022, the major forces and technology that drive the way people bank,
spend, invest, shop, interact, and stay healthy still exist. Keeping up with those elements is no easy feat.

From product leaders to strategists to marketers, the

big questions remain as they sift through the options for
adopting and implementing digital plans. What’s next?
Where is investment in consumer-facing technology going?
How quickly is consumer behavior changing? What do I need
to know to make smarter decisions about how my business
interacts with consumers and clients?
Our researchers, forecasters, and analysts closely follow
developments in marketing, digital media, retail, financial
services, and healthcare. Across all these sectors, it’s never
been more critical to adopt digital tools, strategies, and
solutions that make business interactions, services, and
transactions more efficient and effective.
This report features 10 trends we are following closely that
will have broad impacts in 2022.
For a deeper dive into what’s next for our coverage areas, along
with our predictions for what could happen in each, look out for
our 15 individual 2022 “Top Trends” reports.
Contents
2 Top 10 Trends in 2022: A Guide to the Biggest
Developments in Our Coverage Areas
4 Megafunding Boom Ushers in a New Era of
Digital Offerings
5 Focus on Climate Change Drives Companies to Finally
Push Sustainability Efforts Forward
7 Experience and Expedience Dominate Physical Retail
9 The West’s Answer to Super Apps Finally Takes Shape
10 Government Mandates Guide Businesses’ Digital
Privacy Strategies
12 Retail Media’s Killer Data Drives It Mainstream for Brand
Advertisers
13 Nano- and Micro-Influencers Have Their Moment
15 Facebook Dominates Ads, Despite Continuing Scrutiny
16 Viral Commerce Takes Over Social Commerce
17 Consumers and Providers Embrace Buy Now, Pay Later—
and So Do Regulators
19 Editorial and Production Contributors

Copyright © 2021, Insider Intelligence Inc. All rights reserved. Page 2

Copyright © 2021, Insider Intelligence Inc. All rights reserved. Page 3
 Megafunding Boom Ushers in a
New Era of Digital Offerings
The funding frenzy expanded in 2021 in a large number
of areas: fintechs, digital health, retail tech, and clean
energy companies. These will be key areas to focus on in
2022 as investors chase opportunities in equity, access,
and the environment.
A wave of fintech funding will bring financial health
to neglected customer segments. Inclusion, employee
wellness, and flexible insurance will be key areas of
investment. We expect more neobanks to emerge that target
narrow customer segments in 2022, following the successful
rounds of Greenwood, First Boulevard, and Daylight, which
serve the Black, Hispanic, and LGBT communities. We also
anticipate greater focus on the needs of hourly and salaried
workers, with fintechs such as Origin and CloudPay offering
in-demand services like earned wage access. A final frontier
for financial health that we’re watching is insurance—we
expect insurtechs Wefox, Zego, and Cover Genius will use
megarounds to further close the coverage gap, testing new
distribution models such as embedded insurance.
Copyright © 2021, Insider Intelligence Inc. All rights reserved.
Retail tech funding will reach new heights. According to
CB Insights, over $80 billion in funding globally is expected
to flow into retail tech startups this year, intent to solve or
alleviate different friction points across the retail ecosystem.
AI and augmented reality (AR) startups that focus on making
the customer journey more convenient will continue to
attract investors. Those that replicate an in-store experience
will be especially attractive—like Drapr’s 3D virtual try-on
technology recently bought by Gap Inc., or Walmart’s
purchase of virtual fitting room startup Zeekit, which allows
consumers to create virtual outfits and share the final
products with friends. Startups that make shopping easier
for consumers while increasing conversions and margins for
brands will be even more coveted in 2022.
Telemental health services, wearables, and in-home
testing products will catch on. The pandemic focused
consumers’ attention on their personal health and well-
being, heightening demand for products that measure
various aspects of health, if not happiness. Funding followed
those feelings, as telemental health startups grabbed
$3.1 billion, and fitness and wellness companies raised
$2.9 billion in the first three quarters of 2021, per Rock
Health. Meanwhile, Apple, Amazon, and Google continue
to refine their smartwatches and fitness bands with new
features that measure sleep patterns, mindful breathing,
and blood oxygen levels. COVID-19 tests will not disappear
in 2022, but consumers will be looking for more in-home
diagnostics to assess their physical health.
Clean tech investments will surge as government
and consumer calls for climate action grow louder. In
addition to some of the industry-specific trends highlighted
here, funding for clean tech will have major implications for
offerings in 2022. Funding in this area exploded in recent
years and will get a fresh boost in 2022 from government
programs promoting clean energy and electrification of the
transportation network. PitchBook estimates that nearly
$8 billion worth of deals will go into batteries, renewable
energy, and other technologies aimed at reducing carbon
emissions. The boost in funding will accelerate the
adoption of these technologies in other industries as they
use them to prove their commitments to sustainability
to consumers. Google recently added the environmental
impact of different travel itineraries into its search results, a
sign of how consumers now consider sustainability in their
purchasing decisions.
Page 4
Noteworthy in Key Geographies
Europe
Startup Funding Will Continue on Its Upward Trajectory
According to a Dealroom report, €49 billion ($55.87 billion)
in funding went to European startups in H1 2021, or close
to three times the amount raised during H1 2020. Looking
at data from Crunchbase during the same period, European
startup funding accounted for 20% of all global capital in
H1, a significant increase over the past few years. Germany
typically tops the list of European countries outside of the
UK attracting the most investment, followed by France and
then Sweden. Leading areas of investment have included
fintech, delivery services, and increasingly clean tech, where
Europe plays a leading global role.
Focus on Climate Change Drives
Companies to Finally Push
Sustainability Efforts Forward
Climate change is a global concern at the forefront
of employees’ and consumers’ minds. It will get a
prominent seat at corporate board meetings in 2022—
finally garnering commitments to sustainability that will
materially reduce companies’ carbon footprints.
Leading Personal Concerns of Gen Z* Adults
Worldwide, Feb 2021
% of respondents
Climate change/protecting the environment
28%

UK Unemployment
27%
The UK Consistently Takes in the Lion’s Share of Healthcare/disease prevention
Investment in Europe 26%
Crime/personal safety
Of the €49 billion total in H1 2021, £13.5 billion 19%
($17.31 billion), or nearly one-third, went to the UK, according Education, skills, and training
to research published by Tech Nation, Dealroom, and 19%

LocalGlobe. Fintech has been one of the clear investment Sexual harassment
19%
winners: Dealroom and Tech Nation also found that of the
Corruption with business or politics
current 100 UK-based “unicorns” (companies that are worth
17%
over $1 billion), over one-third are in fintech. Many of the
Diversity/equality of opportunity/discrimination based on personal
UK’s biggest fintech funding recipients such as Revolut and characteristics
Checkout.com are playing key roles in customer experiences, 14%
transforming how consumers bank and pay. Income inequality/distribution of wealth
14%

Latin America Economic growth

11%
Startup Investment Will Expand in the Region
Note: respondents were asked to pick their top 3; *born 1996-2003
Source: Deloitte, "The Deloitte Global 2021 Millennial and Gen Z Survey: A call for
accountability and action," June 15, 2021
CB Insights puts startup investment in Latin America at
267564 InsiderIntelligence.com
$9.3 billion in H1 2021, a fraction of what went into Europe,
but a figure nearly double that of all investments made in the
Concerns about sustainability go far beyond the
region during 2020. Brazil’s Nubank (neobank), Colombia’s
chattering classes. The pandemic sparked greater
Rappi (ecommerce delivery), and Mexico’s Kavak (used-car
global awareness of environmental issues and a renewed
sales) are three of the most highly valued startups in the
commitment to finding solutions. Climate change ranked
region, all of which are creating new consumer experiences.
as the top personal concern of Gen Z adults worldwide,
Additionally, like many other Latin American companies,
ahead of both unemployment and disease prevention
these startups are all finding growth outside of their home
(amid a global pandemic), per Deloitte in February
markets in other countries in the region.
2021. This generation promises to advance the climate
agenda by holding corporations, their employers, and
governments accountable.

Copyright © 2021, Insider Intelligence Inc. All rights reserved. Page 5

Naming and shaming is bringing Big Tech onboard, and
others will follow. Following widespread publicity about
large-scale destruction of returned and unsold goods,
Amazon is cleaning up its act by enabling third parties to
resell returned products as “used” on Amazon. It’s also
offering “Amazon Day” to consolidate orders into a single
weekly delivery that minimizes packaging waste, and it
is ramping up investment in solar panels and wind farms.
Meanwhile, Microsoft has committed to allow repairs and
share schematics with unauthorized providers, in the wake
of complaints from lawyers and shareholders advocating
the “right to repair.” These firms, plus Apple, Google, and
Facebook, have committed to carbon neutrality timelines,
setting a bar for other corporations to follow suit or risk
retribution from consumers.
Rental and resale fashion are a win-win-win for
consumers, retailers, and the environment. Fast fashion
is out, sustainable fashion is in. It’s too soon to announce
“the end of ownership,” but internet-powered borrow-
don’t-own propositions—such as Rent the Runway and
mywardrobehq.com—have cultivated strong customer bases
and will gain momentum in 2022. Resale marketplaces The
RealReal, Poshmark, and Depop are also on the ascent,
while established retailers like Lululemon, Ikea, and Urban
Outfitters recently launched resale initiatives.
Employees will demand “future of work” initiatives
that are pro-environment. The pandemic’s disruption
of how, when, and where we work has made it difficult for
companies to revert to pre-pandemic norms—particularly
in today’s tight labor market. More than two-thirds of US
remote workers polled by YouGov in January 2021 said the
No. 1 benefit of working from home is having no commute,
and that’s useful ammo for employees. As companies reckon
with the realities of return-to-work initiatives, they’ll confront
arguments from their workforces about the demerits of
high-carbon-footprint behaviors like regular commuting and
air travel.
Copyright © 2021, Insider Intelligence Inc. All rights reserved.
Noteworthy in Key Industries
Retail and Ecommerce
Sustainable Practices Will Become Table Stakes for
Retail Brands
Consumers increasingly factor sustainability into their
purchasing decisions, whether shopping online or in a store.
Key aspects include the seller’s record on ethical practices,
whether products or their components are sustainably
sourced, product packaging (size, material, and recyclability),
and delivery (vehicle and location options). Post-purchase,
the principle of circularity is fueling the secondhand/resale
market, especially for apparel and accessories. Retail brands
that fail to align with consumers’ elevated expectations will
quickly lose relevance—as the “fast fashion” sector has
already learned the hard way.
Travel
Alternatives to Flying Will Transform the Travel and
Hospitality Industries
The pandemic has upended our assumptions around travel
due to international restrictions and general avoidance of
air travel. Alternative forms of travel—such as road and
train trips for vacations and Zoom meetings for work—are
inherently more climate-friendly. As these habits carry
forward, airlines and hotels will need to take bold action on
the topic of sustainability and recraft value propositions
around environmentally friendly practices.
Financial Services
Demand for Socially Responsible Investing Options Will
Have Ripple Effects
Growing demand from retail and institutional investors for
green and other socially responsible investment options will
change the calculus for financial services firms. Especially
as Gen Zers enter into the investor class, through their own
accumulation of savings or by way of company 401(k) plans,
calls for more diverse investment options will increase.
Employees will pressure their employers to demand socially
responsible fund options. As more investment flows toward
green energy, sustainable agriculture, and organic consumer
products, business incentives will begin to realign as process
takes more precedence over profits.
Page 6
Automotive The pendulum swings back to physical retail with the
resurgence of brick-and-mortar in 2021. In-store sales
No Easy Answers for Automakers as Drivers Demand surged by 15.4% this year as lockdown orders eased, and
Clean Vehicles although growth will temper in 2022, brick-and-mortar will
still comprise 83.9% of total retail sales, per our estimates.
Plans to cut fossil fuel emissions by putting more electric
Shoppers are returning to stores armed with newfound
vehicles (EVs) on the road have hit a bump: EV batteries
appreciation for tools that connect digital and physical
use materials and processes that are themselves toxic.
shopping experiences, like curbside pickup or ship-from-
One of the biggest issues: mining lithium (a vital element
store. Retailers can capitalize on consumers’ adoption
in these batteries) that requires huge amounts of water,
of new technologies by expanding digital capabilities
destabilizes local environments, diminishes biodiversity, and
in-store that increase the “wow” factor. AR can enhance
leaves contaminated soil. A long-term shortage of lithium is
consumer experiences in-store and has been shown to
another looming problem; demand is expected to outstrip
improve ecommerce conversions by 94%, per Shopify in
supply within a few years, pushing prices up. But there are no
September 2020.
obvious alternatives. In 2022, EV automakers and marketers
should prepare for conversations about the pros and cons of Technology will increase speed and reduce friction at
the technology. checkout. A Q2 2021 survey by Sensormatic Solutions
found that self-checkout would entice more than half of
US internet users to return to shopping in physical stores.
Experience and Expedience The convenience of delivery and the emergence of curbside
pickup perhaps made standing at the checkout line more
Dominate Physical Retail unbearable to consumers. In 2022, self-checkout should
become even more ubiquitous in large retail chains, and
​​
Coming out of the pandemic, consumers’ rising more retailers will go a step further with mobile scan-as-you-
expectations for convenience and innovative shopping go tools or fully cashierless checkout, such as Amazon Go.
experiences will compel retailers to bridge physical and
digital retail. “Retail-tainment” takes center stage in-store as
retailers look to lure consumers with innovation.
Retailers are reimagining how they engage with shoppers.
US Retail Ecommerce Sales, 2019-2025 Some concepts include Dick’s House of Sport, where
billions, % change, and % of total retail sales shoppers can hit the batting cages and scale a 32-foot
$1,607.28
rock-climbing wall, or smaller more customized store
$1,412.37 formats like Bloomie’s, a Bloomingdale’s concept that pairs
$1,230.29 curated shopping with personalized services like styling and
$1,065.19 alterations. Nordstrom’s partnership with Tonal, maker of
$919.06 wall-mounted gyms, and Target’s shop-in-shop installations
$791.70 with Apple, Disney, and Ulta Beauty, will bring new branded
$598.02
32.4% experiences to customers. Retailers who advance their
19.9%
21.9% multitiered in-store experiences will capture the attention of
15.1% 16.1% 16.1% 17.9%
shoppers in 2022.
14.2% 14.2% 15.9% 15.5% 14.8%
11.1% 13.8%

2019 2020 2021 2022 2023 2024 2025

Retail ecommerce sales % change % of total retail sales

Note: includes products or services ordered using the internet, regardless of the method of
payment or fulfillment; excludes travel and event tickets, payments such as bill pay, taxes, or
money transfers, food services and drinking place sales, gambling, and other vice goods
sales
Source: eMarketer, Oct 2021
270112 eMarketer | InsiderIntelligence.com

Copyright © 2021, Insider Intelligence Inc. All rights reserved. Page 7

Noteworthy in Key Industries
and Geographies
Western Europe
Trial of Amazon Cashierless Technology in the UK
Signals Wider Regional Ambitions in the Region
Amazon’s rollout of its Just Walk Out technology appears
to be laying the foundation for expansion across Europe. By
scanning an app-enabled QR code upon entry, shoppers
can grab the items they want and “just walk out”—avoiding
the biggest pain point in physical retail: the checkout line.
The Amazon Fresh store in Ealing, a London suburb—
reportedly the first of at least 30 sites in the UK—features
“Dash Carts” that use computer vision and incorporate
scales to identify and weigh products and keep them in a
virtual basket.
Latin America
Digital and Contactless Payments Will Become More
Common at Checkout as Dependency on Cash Begins
to Wane
A September 2020 report published by Minsait found
that 63.1% of banked internet users in Latin America
had decreased their use of cash—or stopped using it
altogether—during the pandemic, spurring broader adoption
of proximity mobile payments throughout the region. As
consumers become more accustomed to using these
payment methods for their everyday purchases, physical
retailers should consider them as viable payment options to
reduce friction at checkout.
Copyright © 2021, Insider Intelligence Inc. All rights reserved.
Payments and Commerce
Consumers’ Evolving Retail Expectations Hinge on a
Successful In-Store Payment Experience
Payment providers will race to scale in-store solutions that
integrate with digital commerce to help merchants boost
sales and customer loyalty. Contactless payments will be out
front as retailers partner with providers like PayPal to launch
QR support. In addition, retailers will layer in alternative
funding methods like buy now, pay later (BNPL) alongside
offerings like loyalty programs and store cards. Retailers
are using mobile point-of-sale or autonomous checkout to
streamline the checkout process while aligning transactions
with shoppers’ digital identity. Analytics will leverage
customer purchase histories to deliver interactive signage
and personalized promotions. And—following payments
service Stripe’s lead into the ID verification space—retailers
will diversify into new services and more seamlessly leverage
customer purchase histories to deliver interactive signage
and identity verification and reconciliation.
Page 8
The West’s Answer to Super Apps Finally Takes Shape
The super app model has helped China’s Ant Group (owner of Alipay) and Tencent capture billions of hearts and wallets,
and while envious CEOs across the oceans have dreamed of bringing the model to a Western audience, none have made
significant progress—until now.

From old to young, consumers wrestle with a problem that super apps can solve: choice overload. Around a third of US
consumers feel overwhelmed with the number of devices and subscriptions they need to manage, per March 2021 Deloitte data.
To curate their experiences, Gen Zers often lean on influencers and TikTok algorithms. Boomers—reportedly the fastest-growing
cohort of online consumers, per The Washington Post—use Facebook to research products and services. While China’s super
apps—a digital ecosystem of products and services housed under a single application and user experience—fixed the lack of
options, Western super apps will need to solve the problem created by too many options.

Copyright © 2021, Insider Intelligence Inc. All rights reserved. Page 9

Titans of commerce, finance, and transportation are
angling to become consumers’ one-stop shop. China’s
example suggests only one or two players will succeed.
Winners will need to offer high-engagement features
such as payments. And while Big Tech and social media
behemoths also fit the bill, they’ll need to sway wary
customers and regulators. Legacy banks will also struggle
against privacy restrictions, despite sitting on rich customer
data. Unlocking customer data will be critical to offer up new
insights and recommendations every time a customer visits
an app.
The first super app front runners will break through in
2022. But they will look nothing like Eastern super apps
in terms of their scope or shape. If you think of Tencent,
containing millions of mini apps, like a buffet, this will look
more like a tasting menu. Our top two contenders are PayPal
and Revolut. They’ve already made strides toward achieving
super app status but will need to add a greater breadth of
offerings outside of payments and banking to hit the mark—
and we expect them to do just that next year.
Noteworthy in Key Industries
and Geographies
Payments and Commerce
The Rise of Super Apps Will Birth
Newfound Competition
The Alipay-WeChat Pay duopoly in China shows that
disintermediation risk is real. As earlier-stage Western
super apps reach scale, providers can still thwart this from
happening. To do so, they will emphasize payment choice
and simplicity to offer the best experience and reach the
most users—with two tactics serving as top strategies. They
can partner with super apps to get in on the fun, like Fiserv
and ACI Worldwide have through disbursement and bill pay
links with PayPal. Or they can team up with one another to
improve interoperability and build a firewall for newfound
giants to scale, with more tools set to emerge like buy button
“Click to Pay,” jointly created by Visa, Mastercard, American
Express, and Discover.
Retail and Ecommerce
Delivery Services Are Starting to Morph into Retail
Super Apps
In the US, delivery apps have expanded beyond grocery
and restaurants by partnering with retailers and investing in
Copyright © 2021, Insider Intelligence Inc. All rights reserved.
their own inventory. For example, Instacart has partnerships
to deliver products from the likes of Dick's Sporting Goods,
Best Buy, and Staples. Uber can deliver flowers and Estée
Lauder cosmetics, while DoorDash's DashMart sells its
own stock of convenience store items, including food
and beverage products, pet food, and over-the-counter
medicine. By offering a suite of different products through a
single platform, these companies are becoming retail super
apps on their own accord.
Latin America
Super Apps Are Poised to Become the New Face of
Latin America’s Digital Ecosystem
Across the region, several players like Rappi, Mercado Libre,
and Magazine Luiza have sought to become the one-stop
shop for consumers by incorporating their ecommerce
platforms, financial services solutions, and vast delivery
networks into one unified ecosystem. With consumer
demand for better services, greater accessibility, and
quicker delivery times, super apps in Latin America stand a
formidable chance of capturing—and keeping—consumers’
attention and discretionary dollars.
Government Mandates
Guide Businesses’ Digital
Privacy Strategies
New laws in China and the US and tighter enforcement
in Europe will make privacy compliance a core strategic
goal for 2022.
How Concerned Are US Adults About Protecting
Personal Data and Privacy for Themselves and
Their Family?
% of respondents, July 2021
Very concerned 49%
Somewhat concerned 34%
12% Not very concerned
5% Not concerned at all
Note: ages 18+ who are registered voters
Source: Future of Tech Commission survey conducted by Benenson Strategy Group (BSG),
Sep 23, 2021
269982 InsiderIntelligence.com
Page 10
Europe’s powerful General Data Protection Regulation
(GDPR) set the pace for global privacy policies,
but multinational businesses have mostly avoided
enforcement until now. Complex cases take time to
adjudicate under GDPR, which delegates enforcement
to national agencies. But regulators are more determined
than ever to take a strong stand on privacy violations,
fining Amazon €746 million ($850.6 million) in July and
Facebook €225 million ($256.6 million) in September after
long-running investigations. Bottlenecks still exist, notably
in Ireland where many Big Tech firms have their European
headquarters. But EU businesses should look closely at
emerging rulings to see how regulatory agencies are defining
GDPR compliance.
Global businesses will face increased pressure
everywhere to adhere to strict privacy policies and
localize their data storage. China joined 16 other
countries when its powerful Personal Information Protection
Law came into effect in November 2021. The law gives
consumers even more opt-in rights than GDPR, and
regulators in China have more leeway in enforcement.
With most advanced economies having strict consumer
privacy laws on the books, and more likely to follow, global
businesses will need to rethink their privacy policies even if
they are based elsewhere. At a minimum, the ability to shift
data between countries will become harder.
A federal data privacy law in the US remains elusive, but
some additional privacy regulations are likely. Several
US states have privacy laws, including the California Privacy
Rights Act (CPRA) that establishes an enforcement agency
and surpasses GDPR in its protections in some ways. The
fragmentation of US laws has led to a broad consensus that
a federal law is important—but Republicans and Democrats
disagree on key issues, including whether stronger state
laws can preempt a federal law and to what extent private
citizens can sue for damages. Even without a federal law,
the Biden appointees on the Federal Trade Commission
seem ready to use existing statutes to create new rules and
enforce existing regulations more strictly. With consumer
preferences for privacy protections growing and likely
enforcement coming, US businesses should proactively align
their data policies with best practices.
Copyright © 2021, Insider Intelligence Inc. All rights reserved.
Noteworthy in Key Industries
and Geographies
Advertising and Media
Publishers and Advertisers Will Double Down on
First-Party Data
Google and Apple already changed advertising by deciding
to eliminate cookies (soon) and creating tougher opt-
in policies for mobile data collection and sharing, but
government mandates will go even further. With data
sharing now more difficult, first-party data will be even
more important. This will give the triopoly (Google, Amazon,
Facebook) a further edge—but the rest of the industry
won’t stand still. Next year should bring more innovation in
probabilistic and contextual ad targeting, along with more
efforts by publishers to collect first-party data. To do so, they
will need to give consumers an incentive to allow sharing,
and they will also need to improve cybersecurity.
Retail and Ecommerce
Retailers Must Make Data Sharing a Net Positive
for Consumers
With reduced access to data from third-party sources,
retailers and brands will have to focus on deeper
engagement with their customers to gain their consent to
collect information that can be used to improve the shopping
experience through personalization. Dedicated apps,
loyalty programs, and tech-enabled stores all offer valuable
sources of first-party consumer data that can comply with
applicable laws.
Health and Fitness
The Bar Is Highest for the Health Industry
Privacy and security issues will be heightened by greater use
of fitness and health apps during the pandemic and beyond,
as well as virtual consultations with medical practitioners.
Moreover, the trend toward digital health has coincided with
a big rise in hacking and personal data theft from health
services themselves. That’s a headache for providers, too.
According to IBM Security and the Ponemon Institute,
the average total cost of a data breach for a healthcare
organization was higher than for any other industry in 2021,
at $9.2 million.
Page 11
Financial Services US Digital Retail Media Ad Spending, 2019-2023
Data Protection Becomes Paramount for Finance billions, % change, and % of digital ad spending
$52.21

With online privacy and security high on the agenda, banks

and other financial firms should review their own data $41.37

protection systems. Even if those are robust, it will be useful

53.3% $31.49
to remind customers of the extensive measures taken
to keep their data (and money) safe—and what to do if 53.4%
31.4%
problems arise. $20.52
26.2%
$13.39
Latin America 19.3%
14.9% 17.2%
13.4%
Brazil’s LGPD Will Have Some Teeth in 2022 10.1%
2019 2020 2021 2022 2023
Brazil’s General Data Protection Law (LGPD) officially Digital retail media ad spending % change % of digital ad spending
went into effect in August 2021. Failure to comply with the Note: digital advertising that appears on websites or apps that are primarily engaged in
guidelines set out by LGPD will now subject companies to retail ecommerce or is bought through a retailer's media network or demand-side platform
(DSP); examples of websites or apps primarily engaged in retail ecommerce include
several means of punishment, including fines up to 2% of advertising on Amazon, Walmart, and eBay; examples of retail media networks include
Amazon's DSP and Etsy's Offsite Ads; includes ads purchased through retail media networks
the company’s revenues in its past fiscal year; deleting the that may not appear on ecommerce sites or apps
Source: eMarketer, Oct 2021
personal data subject to the infringement; and suspension 270532 eMarketer | InsiderIntelligence.com
of the personal data processing activity. The bottom
line? Consumers’ data privacy will be a key organizational Targeting and attribution data driving the shift to retail
necessity moving forward. media will power more upper-funnel ads. Although
retail media is currently dominated by product search ads
UK on ecommerce sites, recent advancements by Amazon,
Walmart, and others indicate a much stronger push into
Brexit Won’t Mean Brexit for Data Privacy Laws ... Yet
display, video, and connected TV (CTV) advertising.
With Brexit enacted almost a year ago, the UK government Upper-funnel ads, known more for building brand equity
wants to bring in a raft of changes to its data and privacy than driving performance, will now come with the benefits of
laws, distancing itself from the GDPR that covers the EU. first-party retailer data for audience targeting and closed-
However, a “sunset” agreement with the EU means that data loop sales attribution. We expect ad spend on these formats
will be allowed to flow freely between the two regions as per to jump 35.0% to $14.52 billion in 2022, led by a 34.4%
GDPR. No matter the noises the government makes about increase to $9.73 billion at Amazon.
tweaking privacy laws, it won’t be able to make substantial
CTV inventory is currently a key missing link. Much of this
changes until the agreement lapses in about four years.
shift hinges on more ad-supported CTV inventory becoming
So, until then, UK businesses will toe the line, and it will be
available to retail media platforms. Content acquisition and
“business as usual.”
partnerships will be key for this next phase. Early examples
to watch are Amazon’s acquisition of exclusive broadcast
rights for NFL Thursday Night Football, Walmart’s recent
Retail Media’s Killer Data Drives It tie-up with The Trade Desk, and Kroger and Shopify each
Mainstream for Brand Advertisers partnering with Roku.

Retail media, already one of the fastest-gaining

segments in digital ads, is moving up the funnel to brand
advertising and will disrupt the ad industry’s status quo.

Copyright © 2021, Insider Intelligence Inc. All rights reserved. Page 12

Retail media networks threaten TV budgets and the ad large brick-and-mortar retailer now has a retail media ad
platform duopoly. Google, Facebook, and the nearly business—the question is, which will achieve scale?
$70 billion TV ad market’s stranglehold on branding
dollars will feel the impact. The powerful behavioral Latin America
advertising duopoly is encountering a cavalry of new media
Retail Media Is Ripe with Opportunity to Disrupt Latin
platforms equipped with better data. The most durable of
America's Already Booming Digital Advertising Industry
advertising media, linear TV, will face an unprecedented
threat to budgets. What happens when the dominant
The region’s seismic pivot toward ecommerce prompted
advertising vehicles of the past 50 years suddenly face
a change in the way consumers search for products.
better competition?
Many are now beginning their consumer journey directly
on ecommerce websites and apps like Mercado Libre,
Brand advertising budgets are set to shift. Budgets
Amazon, Americanas S.A., and Magazine Luiza—rather
will begin to dislodge, and dollars will accelerate toward
than on search engines like Google. As Latin America’s most
retail media in 2022, eating into the growth of linear TV
prominent retail ecommerce players ramp up their first-party
and other areas of digital advertising. Consumer packaged
advertising operations and capabilities, we should expect
goods (CPG) advertisers already shifting into lower-funnel
to see more ad budgets directed toward these platforms in
retail media will get a taste of the holy grail of branding and
the near term. Long term, brands’ investments in retail media
performance. Nonendemic brand advertisers in automotive,
networks could likely rival those in the duopoly’s (Google
financial services, and telecom will also come calling. The
and Facebook).
advertising industry may never be the same.

Noteworthy in Key Industries Nano- and Micro-Influencers

and Geographies Have Their Moment
Advertising and Media Move over, celebrities and mega-influencers. Creators
Retailers’ Embrace of Video Ads Will Push TV Networks with smaller followings will be the strategic play in the
to Up Their Game influencer marketing world in 2022.

As retail media networks evolve and embrace upper-funnel

formats like display and video, TV networks will face growing US Influencer Marketing Spending, 2016-2023
pressure to make their advertising more accountable and billions and % change
$4.62
measurable. Innovations like addressable won’t be enough
to stem the tide of retailers using increasingly sophisticated $4.14

ads that leverage first-party data while aiming for the holy $3.69

grail of branding and performance. CTV platforms, on the

other hand, won’t be as adversely affected as linear ones, 45.8% 45.1%
$2.76
$2.42
as CTV already delivers a combination of upper- and lower-
33.6%
funnel attributes. $1.91

$1.32
Retail and Ecommerce $0.90 26.4%

14.4%
Retail Media Advertising Promises to Offset Retailers’ 12.2% 11.5%
Margin Pressures 2016 2017 2018 2019 2020 2021 2022 2023
Influencer marketing spending % change
Retailers encountering recent bottom-line pressure due to
Note: payments made to influencers or their representatives to promote products and
rising costs of inventory, labor, and customer acquisition are services primarily on social media and other platforms featuring user-generated content;
excludes noncash payments such as free products or trips; excludes paid media
discovering a lifeline with retail media ad revenues. This Source: eMarketer, June 2021
high-margin new revenue stream has a disproportionate 267827 eMarketer | InsiderIntelligence.com

impact on profits when layered onto the slimmer-margin

core retail business. It’s no surprise that virtually every

Copyright © 2021, Insider Intelligence Inc. All rights reserved. Page 13

Nano- and micro-influencers are generally defined as having Noteworthy in Key Industries
between 1,000 and 100,000 followers, though follower count
can vary significantly based on industry and platform. Social Media
The continued growth in social commerce will open up Social Platforms Will Expand Creator Tools for
more sponsorship opportunities. US social commerce Smaller Influencers
sales will rise by 24.9% to $45.74 billion in 2022, per our
estimates. As influencer marketing moves further down the The most sought-after programs, such as the TikTok Creator
purchase funnel, brands will have to add more nano- and Marketplace, and Instagram’s Branded Content tools, don’t
micro-influencers to their rosters to meet demand and usually allow creators with smaller followings. That will
their sales goals. Why? There are only so many Kardashian- change in 2022, as the social platforms step up their efforts
Jenners out there—and only so many brands that can to keep influencers of all sizes—not just the largest ones—
afford them. engaged. One early indication: Instagram’s decision to open
Stories link stickers to all users after previously limiting them
Smaller influencers give brands the most bang for their to businesses and larger accounts. With more tools like this,
buck. Consumers view nano- and micro-influencers as brands will have a wider roster of creators to choose from.
“people like me,” which makes them more likely to trust and
take action based on their recommendations. They’re also Retail
less expensive: According to June 2021 HypeAuditor data,
Retailers Will Rely on Micro-Influencers to Build
70.7% of influencers with 1,000 to 10,000 followers charge
Livestreaming Platforms
up to $100 per Instagram post, while 76.9% of influencers
with over 1 million followers charge $1,000 or more. Retailers are enthusiastic about hosting livestreams on
social and video platforms but also have ambitions to
Brands are most interested in working with nano- and
create platforms of their own—and they are relying on
micro-influencers. That’s not a new trend, but their
micro-influencers to supply a steady stream of content.
popularity among marketers has grown over the past several
Amazon Live offers influencers a commission on products
years thanks in large part to TikTok. Influencer marketing
they feature during onsite livestreams. Walmart recently
on TikTok is powered by organic content (primarily from
partnered with livestreaming platform Buywith, so
“everyday” creators with more niche audiences) that can
influencers can apply to host live shopping sessions
go viral, reaching beyond its original audiences. According
on walmart.com. These types of affiliate programs are
to March 2021 data from influencer marketing platform
geared toward micro-influencers, who may not have the
Linqia, 90% of US marketers said they wanted to work with
following to attract larger activations. As more retailers
influencers with between 5,000 and 100,000 followers
establish their own livestreaming channels, partnering
this year.
with micro-influencers can be a smart way to keep those
channels active.
Smaller influencers will need to work with brands to
earn a living, despite new revenue streams. Creator
economy programs like tipping and micropayments are
intended to help smaller creators make more money, but so
far, few are getting paid. Twitter’s “Super Follows” feature
generated only $6,000 in US iOS revenues in its first
two weeks, per data from Sensor Tower. Subscriptions,
meanwhile, have been a hit among consumers, but it’s the
top creators who are making the big bucks. On newsletter
platform Substack, the top 10 creators collectively made
more than $20 million annually as of June. The result?
Some larger influencers can (quite literally) afford to forgo
new brand sponsorships, while demand among smaller
influencers will grow.

Copyright © 2021, Insider Intelligence Inc. All rights reserved. Page 14

Advertising and Media
Brand Marketers Will Shift Focus to Quality
Over Quantity
The conventional wisdom is that brands consider scale
to be the top criterion when it comes to partnering with
influencers. While that may still be true for some marketers,
many are realizing that relevance, authenticity, and quality
matter more than audience size. To name a few examples,
Coca-Cola, Sephora, Sperry, and Glossier have actively
courted micro- and nano-influencers, and more brands
are sure to follow in 2022. The goal of all advertising and
marketing is to drive sales, and smart marketers have
caught on that a creator with 10,000 engaged followers
can potentially drive more business than an A-list celebrity
whose far-flung audience may not be tuned in to product
endorsements or recommendations.
Facebook Dominates Ads, Despite
Continuing Scrutiny
Facebook will face its toughest challenges ever, but
the gravitational pull of the second-largest digital ad
platform will be too hard for most advertisers to resist.
How Has the Forecast for US Facebook Net Ad
Revenues Changed?
billions, 2019-2023
$50.30
$48.48
$38.30
$38.09
$40.76
$31.27
$33.48
$29.78
$31.27
Facebook will feel only mild negative effects from
Apple’s iOS changes. We have lowered our estimate for
US Facebook ad revenues only slightly for 2022 when
compared with our previous forecast. We now predict 15.5%
growth versus 17.7% in our March 2021 forecast. Headwinds
from the recent iOS changes have made it more difficult
for Facebook to provide accurate ad performance readings
and have led to lower growth in iOS-targeted ad spending.
However, growth is accelerating in Android-targeted
spending, along with increases in ad prices for Android ads.
Regulation is still a question mark. Although Facebook
is the target of numerous regulatory and antitrust
investigations, the company has been moving forward on
integrating its core apps, which will make forcing a true
breakup of the company difficult if not impossible.
Brand safety isn’t a concern for many Facebook
advertisers—even if it should be. Questions about
Facebook’s business practices, lackluster content
moderation, and impact on users’ mental health will keep
some image-conscious ad buyers up at night, but they won’t
severely dent the company’s prominence in advertisers’
plans. We predict Facebook’s share of US digital ad
spending will be 24.2% in 2022, up from 23.8% this year.
Facebook has more than 10 million advertisers—many being
smaller businesses and performance-driven marketers—and
the brutal truth is that many of them care less about popular
opinion and more about business results.
The biggest risk to Facebook’s future ad growth will
be usage declines. The trends are still generally strong
$65.38 at Facebook, where the percentage of the US population
$65.21 using it monthly sits at 53.6% this year. But there are signs
$58.11
of slippage among teen users of the company’s crown jewel
$57.06 Instagram, according to internal Facebook documents
described in an October 2021 New York Times article.
$47.53
Instagram will account for well over half of Facebook’s US ad
revenues next year, according to our forecast, but as younger
users shift their attention elsewhere (i.e., TikTok), Instagram
will be able to only grow if it can increase its uptake among
older Gen Zers and millennials.

2019 2020 2021 2022 2023

Oct 2020 forecast March 2021 forecast Oct 2021 forecast

Note: includes advertising that appears on desktop and laptop computers as well as mobile
phones, tablets and other internet-connected devices, and includes all the various formats of
advertising on those platforms; includes Instagram advertising revenues; excludes spending
by marketers that goes toward developing or maintaining a Facebook presence; net ad
revenues after companies pay traffic acquisition costs (TAC) to partner sites
Source: eMarketer, Oct 2021
270670 eMarketer | InsiderIntelligence.com

Copyright © 2021, Insider Intelligence Inc. All rights reserved. Page 15

Noteworthy in Key Industries Viral Commerce Takes Over
and Geographies Social Commerce
Advertising and Media Brands and retailers will look to cash in on the
Antitrust Suits Will Be an Ongoing Headline in 2022 but #TikTokMadeMeBuyIt phenomenon by strategizing
Likely Won’t Affect Ad Volume around viral commerce—the practice of creating
content that’s designed to show off products in an
In Q4 2021, Facebook was buffeted by damaging revelations
entertaining and visually appealing way so that it’s
about its business from whistleblowers and allegations
of collusion with Google in an antitrust suit against the shared widely across social media.
search giant. PR crises and legal cases, along with ongoing
threats of regulation, will almost certainly persist in 2022. Have US Digital Buyers Made a Purchase via Select
But Facebook has weathered adversities in the past, Social Media Platforms in the Past Month?
notably the Cambridge Analytica scandal in 2018. As long % of respondents, by demographic, Aug 2021
as the fundamentals of Facebook’s ad business remain Gender Age
strong, we don’t envision significant collateral damage from Female Male 18-34 35-54 55+ Total
negative headlines. Facebook 21% 25% 28% 26% 15% 23%
Instagram 12% 15% 30% 9% 3% 14%
Retail and Ecommerce TikTok 4% 9% 15% 4% 1% 6%
Snapchat 2% 9% 15% 2% 1% 6%
Anti-Tracking Initiatives Raise the Stakes for Twitter 1% 8% 11% 2% 1% 5%
Facebook’s Social Commerce Ambitions Pinterest 2% 6% 6% 4% 3% 4%
Reddit 0% 5% 8% 1% 0% 3%
As iOS changes diminish visibility into post-click Other 1% 6% 3% 5% 3% 4%
performance, Facebook will need to capture more first-party No, I have not purchased from any 71% 60% 48% 66% 83% 66%
of these sites in the past month
purchase data for ad targeting and measurement. This will
Note: n=909 who made a digital purchase in the past month/30 days
support the continued growth of its ad business. Facebook’s Source: "The Insider Intelligence Ecommerce Survey" conducted in August 2021 by Bizrate
Insights, Aug 10, 2021
pace of innovation in developing capabilities that facilitate
268696 eMarketer | InsiderIntelligence.com
in-app shopping and checkout will accelerate, and its
incentives to drive retailer adoption will get more aggressive TikTok, which has emerged as a formidable player
in the year ahead. in social commerce, is leading the way on this trend.
TikTok’s powerful algorithm and all-around cultural relevance
UK has made it the go-to platform for emerging shopping
Draft UK Legislation Is Set to Supercharge Scrutiny trends, where everything from yoga pants to a portable
on Facebook carpet cleaner can go viral and lead to big sales. TikTok also
has a track record of turning organic trends into business
The UK’s draft Online Safety Bill, which was published in opportunities—and it has already partnered with agencies to
May 2021 and has been debated in Parliament, will put teach brands about how users shop on the platform. Other
the onus on tech firms to protect their users from harmful social networks will try to emulate TikTok’s model, which is
content. If they fail to maintain that duty of care, they could the “it” trend in social commerce this year. Marketers that
face a fine of up to 10% of their annual global turnover. In want to boost conversions on (and off) social media should
Facebook’s case, that would amount to around £8 billion seriously consider incorporating TikTok into their social
($10.26 billion). The biggest revenue growth generator for commerce strategies.
Facebook is Instagram, and its recent admission that it knew
about the negative influence the platform was having on
young women won’t sit well with this coming legislation.

Copyright © 2021, Insider Intelligence Inc. All rights reserved. Page 16

Algorithms are playing a bigger role in the discovery
phase. Consumers have traditionally discovered products
on social media through targeted ads, as well as organic
content from brands and influencers they follow. But viral
commerce depends on discovery pages that are controlled
by algorithms, like TikTok’s “For You” feed and Instagram’s
Shopping tab. Winning the algorithm is a gamble for
marketers, but there is potential for a big payoff when posts
do go viral. Marketers should experiment with influencer
campaigns and shoppable content to boost their chances
at discovery.
Influencers with niche audiences have become
even more crucial in driving social commerce. If the
#TikTokMadeMeBuyIt trend has taught us anything, it’s that
even content featuring esoteric products—like life-hack
gadgets and cleaning supplies—can go viral. With the
emergence of viral commerce, micro- and nano-influencers
now have the potential to reach a wider audience. Also,
viral commerce is more reliant on organic posts than paid
advertising, so working with influencers is a general best
practice for extending your reach.
Shoppable content is now commonplace across social
platforms. Integrations with Shopify and other payment
platforms have made it easier for brands and influencers to
set up shop on social media. This has created the potential
to expedite the funnel from discovery to purchase on social
networks. With these tools in place, marketers can use viral
commerce to increase the reach of discovery, in hopes that
a shoppable post will lead users down a streamlined funnel
toward purchase.
Noteworthy in Key Industries
and Geographies
Social Media
Instagram Will Prioritize Improving Search
and Discovery
Latin America
Social Commerce Will Be the Backbone of Latin
America's Informal Economy
Latin America’s informal economy has provided a
livelihood for families that have been excluded from finding
employment in the formal sector. Amid the pandemic, more
people began trying to earn extra income by selling items
online—most notably on social media. As social platforms
continue to be an entrenched part of Latin American society,
social commerce will play a pivotal role in driving informal
ecommerce sales forward. We forecast that 40.1% of digital
buyers in Brazil and 33.1% in Mexico will make at least one
purchase via any social channel in 2022.
Canada
Social Commerce Will Get Checkout in Canada in 2022
Transacting from Facebook and Instagram Shops in Canada
requires linking out to retailer sites, still the most common
form of social commerce in most markets. Checkout
capabilities exist on Shops in the US, including payment
solutions such as Shop Pay from Shopify, but not in Canada.
We expect in-app checkout will be introduced in Canada in
2022 and further accelerate social commerce in the country.
Consumers and Providers
Embrace Buy Now, Pay
Later—and So Do Regulators
Gen Z’s interest in buy now, pay later (BNPL) and
incumbents’ push to outspend and out-innovate
competitors will bring growth now, but regulatory
scrutiny means providers could pay later.

One of TikTok’s biggest advantages over Instagram is its

strength in discovery, giving it a leg up in viral commerce
as well. Instagram has already started experimenting with
ways to better surface content and products to users; in
August, head of Instagram Adam Mosseri said the platform
would revamp its search tab to display photos, videos, and
relevant hashtags (sound familiar?) when a user searches
for a specific keyword. Marketers can expect more upgrades
and experiments in Instagram’s search and discovery tools
next year.

Copyright © 2021, Insider Intelligence Inc. All rights reserved. Page 17

US Buy Now, Pay Later (BNPL) User Penetration, But newfound risk is drawing scrutiny, which has two
by Generation, 2018-2025 negative effects that threaten to slow the tsunami down.
% of digital buyers in each group BNPL’s ability to offer credit to those who may not get it
47.3% 47.4% elsewhere can extend the consumer credit ecosystem—but
46.5%
44.1% it could attract users who can’t repay debts. Over half of US
36.8%
BNPL users have missed a payment, per a July 2021 Marqeta
39.5% 40.6% 40.6% study conducted in partnership with Propeller Insights. This
37.2%
could hit the high-margin space for providers by forcing them
21.6%
30.3%
28.7%
30.9% to contend with bad loans—and benefit incumbents familiar
26.3% with regulation. It will also raise the eyebrows of watchdogs,
23.1%
18.0% who are set to swoop in to protect consumers next year. New
10.9% 17.2%
9.2% 13.5% 14.8% policy may include industrywide standards, clearer penalties,
12.0%
1.7% 9.7% 9.4% or data-sharing that limits double-dipping. Klarna’s UK
4.5% 6.2%
1.4%
2.9%
overhaul—meant to beat regulators to the punch with more
0.6% 1.0%
0.1% transparent marketing, a new “pay now” option, and stronger
2018 2019 2020 2021 2022 2023 2024 2025 credit checks—could signal what’s to come.
Gen Z Millennials Gen X Baby boomers

Note: internet users who have accessed a BNPL account digitally and have made a payment
toward a purchase at least once in the past year; includes purchases of goods and services;
Gen Z are individuals born between 1997 and 2012; millennials are individuals born between
1981 and 1996; Gen X are individuals born between 1965 and 1980; baby boomers are
Noteworthy in Key Industries
individuals born between 1946 and 1964
Source: eMarketer, May 2021 and Geographies
267143 eMarketer | InsiderIntelligence.com

Retail and Ecommerce

The BNPL wave will only keep growing through 2022.
Nearly 3 in 10 digital buyers will use BNPL as a payment
option in 2022. Gen Zers are leading the charge, with 44.1%
expected to use the technology next year. However, more
than a third of millennials and nearly a quarter of Gen Xers
will also use BNPL. While BNPL makes up around 1% of
US retail ecommerce dollars, fast growth means merchants
are noticing an opportunity to grab sales. Incumbents,
meanwhile, see the fintech-dominated space as a threat to
core offerings, like credit cards: Chase CEO Jamie Dimon
said the bank will spend “whatever [it has] to spend” to
counter the threat.
New entrants will rush in to catch the wave. While
many of the largest banks are already doubling down on
their BNPL offerings, look for more to follow their lead
in 2022. Capital One’s forthcoming launch could kick off
the tide. Application programming interface- (API-) and
open banking-based services from major networks like
Visa and Mastercard may also open the floodgates. Their
offerings can enable simple implementation across their
wide networks, which will help make BNPL acceptance
ubiquitous. And neobanks like Upgrade and Revolut are
blending BNPL with digital money management. Features
like bulk invoicing and the ability to view debts over time
could emphasize financial health by offering customers a
better long-term sense of what they owe—and move the
needle on innovation.
Rising Competition Among BNPL Providers Is a Boon
for Retailers
Retailers are flocking to add flexible payment solutions to
their online checkouts. They’re drawn by the higher rates of
conversion and spending among consumers using BNPL
services, along with access to data on their consumption
habits. Merchants are now more frequently offering BNPL
options from more than one provider at the point-of-sale
and stand to benefit from the heated competition in the
sector through incentives such as brand promotion on BNPL
apps and marketing campaigns—at least as long as the
credit keeps flowing freely.
Western Europe
After a Slow Start, BNPL Is Rapidly Gaining Momentum
Historically, many consumers in Europe were wary of
buying on credit—but new-generation BNPL services are
changing that. Klarna, the top regional provider, operates
in over a dozen European countries and raised $1 billion in
extra funding in Q1 2021. Afterpay, Divido, and PayPal are
major players, too. All will aim to benefit from the recent
surge in ecommerce and investor willingness to bankroll
further expansion. Shoppers will warm up to easy opt-ins
and manageable repayment schedules. Crucially, the EU
will likely mandate stronger consumer protections for those
using BNPL services.

Copyright © 2021, Insider Intelligence Inc. All rights reserved. Page 18

UK Editorial and
Regulation Promises to Improve Consumer Trust in Production Contributors
BNPL Services in the UK
Anam Baig Senior Report Editor
In February 2021, the UK government announced that its Rahul Chadha Director, Report Editing
Financial Conduct Authority would begin regulating the Jason Clinkscales Senior Report Editor
BNPL sector. New stipulations require BNPL providers to Matthew Corkins Copy Editor
carry out affordability checks on customers and ensure Justin DeVoursney Graphic Designer
the vulnerable are treated fairly. In addition, consumer Joanne DiCamillo Senior Production Artist
complaints can now be escalated to the Financial Magenta Fox Senior Chart Editor
Ombudsman Service. This regulation should help improve Donte Gibson Senior Chart Editor
consumer confidence in such services and may encourage Katie Hamblin Director, Charts
more to adopt them. Dana Hill Director, Production
Erika Huber Senior Copy Editor
Latin America Ann Marie Kerwin Vice President, Content
Na Li Senior Data Research Manager
Latin American Retailers Will Morph into Formidable
Penelope Lin Copy Editor
Providers of Financial Services
Reuben Loewy Director, Report Editing
Jennifer Merritt Executive Editor
The concept of BNPL has been practiced in the region for
Stephanie Meyer Product Specialist
decades. As of June 2021, 50% of internet users in Brazil
Heather Price Senior Director, Managing Editor
surveyed by Instituto QualiBest for the Sociedade Brasileira
Amanda Silvestri Senior Copy Editor
de Varejo e Consumo (SBVC) paid for their in-store
Julia Woolever Senior Report Editor
purchases through interest-free monthly installments via
Ali Young Copy Editor
a credit card. The digitization of Latin America’s financial
services sector will enable retailers to grant more credit
to consumers at scale and offer them additional low-cost
digital-first financial products like digital wallets and/or debit
cards. These financial inclusion efforts will allow retailers
to grow market share by increasing consumers’ purchasing
power, brand loyalty, and lifetime value—in addition to
boosting ecommerce adoption.

Copyright © 2021, Insider Intelligence Inc. All rights reserved. Page 19

Power your next move with
clear and credible insights.
Your morning coffee
Never fall behind the biggest trends and executive-level decisions shaping your industry
with our Industry Briefings—they’re timely subscriber-only newsletters delivered straight
to your email.

Learn More

Get the bigger picture

Your organization is affected by diverse industries, geographies, and ideas. Tap into these
influencing factors to avoid information silos and see a more complete picture.

Explore related content

Empower your colleagues

Confidently share reliable and accurate research with your subscribing team members to
strategize around our information.

Send to my colleagues

Your account team is here to help.

Contact accounts@insiderintelligence.com or 1-866-345-3864 for answers to any research- and
account-related questions.

To learn about advertising and sponsorship opportunities, contact advertising@insiderintelligence.com.

Copyright © 2021, Insider Intelligence Inc. All rights reserved. Page 20