The Way We Pay: e- and m-Commerce Trends
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Transcript of The Way We Pay: e- and m-Commerce Trends
The Way We Pay:e- and m-Commerce TrendsA Survey by Visa and GfK ResearchPublished October 2013
2The Way We Pay: e- and m-Commerce Trends | October 2013 2The Way We Pay: e- and m-Commerce Trends | October 2013
eCommerce Grows Up
• More than half of respondents – among almost all ages, incomes and regions – said they’re more comfortable spending money online today than five years ago
• West Coast inhabitants were significantly more likely than those in the Northeast or Midwest to say they are more comfortable spending money online today than they were five years ago
• West Coasters are (60%) more likely to own a smartphone than those in the Northeast and Midwest (46%)
• Respondents on the West Coast (37%) are more likely than those in the Midwest (21%) or South (25%) to have purchased something online with their smartphone
Rockies/Plains
Midwest
South
West Coast
Northeast
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Mobile Commerce Poised for Growth
• 27% of smartphone owners have used their phone to make a purchase online in the last 12 months
• 24% have used a tablet to make a purchase from an online merchant in the past 12 months
• 15% indicate they have scanned a QR code on their smartphone to make a purchase
• 86% said they have not used their smartphone to make a purchase while in a retail store or other physical location
v
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4The Way We Pay: e- and m-Commerce Trends | October 2013 4The Way We Pay: e- and m-Commerce Trends | October 2013
New Ways to Pay with a Mobile Phone
20%
22%
19%
26%
30% 20% of respondents said that if available, they’d use their smartphone to pay back friends
22% indicated they’d use their smartphone to pay at parking meters
19% would use their mobile device to tip
26% indicated they would make purchases with their mobile devices at gas stations
30% said they’d use their mobile device to pay for public transportation
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Showrooming Becoming a Thing of the Past
53%of respondents never go to a
retail store to see or test a product
before buying online 26%
of respondents go to a retail store to see or test a product a few times a year, with no intention to buy
12% of respondents go to a retail store to see or test a product once a month, with no intention to buy
Who is going to retail stores with no intention to buy?
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Payment Behaviors are Evolving
49% indicate that having to set up an account with each new online retailer is the most annoying aspect of online shopping
35%do most of their online shopping while at home or during their leisure time
Sign Up
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Consumers See a Future for Digital Wallets
• 57% of respondents said that digital wallets already have, will or may replace a physical wallet in the next five years, compared to 43% who said it will never happen
• 28% indicated that there’s a possibility digital wallets will become mainstream in the next five years - those in the 25 to 64 age range are more likely to believe this
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Moving Toward a Cashless Society?
Respondents carry less than $20 in their wallet, on average
Women are significantly more likely than men to carry less
than $10 in their wallet
(30% compared to 16%, respectively)
Carry less than
$10
Carry
$100 or more
Men are significantly morelikely than women to carry$100 or more in their wallet
(21% compared to 5%, respectively)
26%
40%
Carry between $20 - $50
MethodologyThis survey was conducted through a telephone omnibus survey by GfK Custom Research’s OmniTel service in August 2013. The omnibus methodology provides nationally projectable results through a probability sample of 1,000 U.S. adults 18 years of age and older (500 male and 500 female) living in private households in the continental United States.
9The Way We Pay: e- and m-Commerce Trends | October 2014