When benchmarking the world’s digital transformation, there are standouts. Some economies are all-in when it comes to comes to connected living, and it’s evident that this activity is indeed transformative, sometimes very much so.
For “How The World Does Digital: The Impact Of Payments On Digital Transformation,” PYMNTS collected data from 15,599 consumers in 11 nations, and we see those standouts in places like Brazil, where smartphone ubiquity is powering a makeover of how payments move.
In this latest report we note that Brazil moved up two spots in the ranking to second place, boosting its overall index score by 8.2%.
“Brazil’s strong performance was underpinned by increased digital engagement of consumers living there in digital travel and mobility tools and growing intensity in the use of digital methods to buy groceries online and make retail and restaurant purchases,” all rising more than 10% in Q2.
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Brazil’s quarter-over-quarter ConnectedEconomy™ index score improved 8.2%, moving from 30.1 in Q1 to 32.6 in Q2. Should this continue, Brazil will take number one transformation gold by Q4 2022.
Assisted by the influx of roughly 2 million people — and corresponding digital activities —around the annual Carnival celebration in Rio de Janeiro, our research found that “These festivities sparked a wave of domestic travel and commerce, coinciding with an increase in domestic demand for a wide variety of digital and digitally enabled transactions. Brazilian consumers’ use of travel sites, apps and aggregators increased 14% quarter over quarter in Q2 2022, for example.”
The cascading effect of digital means engaging in one activity leads to engaging in others, and that had a powerful effect on Brazil’s second-quarter transformation, putting it in the running as leader.
For example, along with use of travel apps and sites around Carnival, we observed that online ordering at restaurants increased 11% over that same period, as did use of social media and content platforms.
“It is true that festivities and holiday seasons generally come together with higher consumer willingness to spend — an indication that Q2 growth may have been extraordinary for Brazil,” the study notes. “It, in fact, quadruples the growth for the second-most growing country, but the lesson from the period is that digital behavior is a rising tide that lifts all boats, with the extent of these interconnections growing stronger as the digital infrastructure extends to more activities.”
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