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Online retail won’t go back to slower pre-pandemic growth says Mastercard CEO

Online shopping is due to continue accelerating at greater speeds after the pandemic is over, according to Mastercard’s chief executive Michael Miebach.

Speaking to a virtual panel at CES yesterday, Miebach said that months of lockdowns had forced customers to get used to making repetitive purchases of everyday items online, meaning they are far more likely to continue to do so in future.

Online shopping, according to Meibach, increased around 20 per cent in 2020 and is unlikely to go back to the slower growth rates seen before the pandemic.

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