According to Mobile Ecosystem Forum’s annual Mobile Money Report, a recent survey in the field shows that 18% of shoppers turn to their phones to pay in-store, and 2 years ago this number was just 8%. 6.000 consumers in 9 countries were asked about their preferences concerning mobile payments. The research shows:
- 38% of Chinese consumers have made an in-store mobile payment, which is almost double the global average. They use mobile wallets such as Tencent/WeChat and Alipay.
- 78% of people had made a purchase using a mobile device in the last 6 months, which is up 4% from 2014.
- 61% of survey participants now use their mobile device for banking. 44% use apps to check their balances, and in 2014, this number was 28%. 29% pay bills using a mobile device, and in 2014, this number was 20%.
- Cart abandonment rate continues to be high. 58% of people have started to pay for something from a handset, only to abandon it before checkout. 31% did this because they were required to provide too much sensitive information. According to 21%, the process took too much time.
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Salsify, product content management tools provider for distributed commerce, reports nearly 77% of all shoppers turn to their mobile phones if they’re interested in some product information while making purchases in physical stores. Only 35% are likely to ask an in-store salesperson about a product.
84% of consumers aged 18 – 29 would use a handset to shop online. The same can be said about 78% of shoppers between the ages of 30 and 44.
According to Jason Purcell, CEO and co-founder of Salsify, the study shows the importance of having a systematized approach towards maintaining digital content to attract and retain customer attention that would lead to increased sales.