While mobile shopping has a long way to catch up to online shopping generally, the gap is closing. In 2017, more than a third (39%) of online purchasers reported making a mobile purchase, up from less than 20% of online purchasers in 2013. Similarly, banking and gathering information for shopping has similarly trended upward.
The trend underscores the importance of mobile checkout schemes that make the mobile purchase experience simple and seamless and the need to smoothly integrate them into the mobile shopping experience, notes Packaged Facts.
“The percentage of adults who prefer mobile internet access over computer-based access has continued to grow,” says David Sprinkle, research director for Packaged Facts. “The question now becomes how can the payments industry better translate this uptick into broader consumer interest in making in-store mobile payments.”
The good news is that the opportunity at least is there. Once the more exclusive domain of younger adults, smartphone ownership is now more evenly spread across all age groups except for senior over age 75. Similarly, the age gap separating online purchasing behavior has narrowed over time, although online purchasing among 25-44s is at least 20% more likely than average.
On the downside, mobile-related behavior, however, remains strongly differentiated by age. Trends over time suggest that usage barriers remain among older adults and that mobile purchasing among Millennials ages 18-24 is running counter to industry expectations. Adults age 25-44 are at least 40% more likely than average to have made a mobile purchase in 2017. But while this behavior was generally almost three time more prevalent in 2017 than in 2013, statement agreement among 18-24s relative to other age groups declined during this period, according to survey results featured in the report.
About the Report
Digital Payments in the U.S.: Consumer Usage, Wallets, and P2P gives industry participants the insight they need to stay abreast of digital payments trends, including digital purchasing, digital payment preferences, digital wallets, and digital P2P.
View additional information about Digital Payments in the U.S.: Consumer Usage, Wallets, and P2P, including purchase options, the abstract, table of contents, and related reports at Packaged Facts’ website: https://www.packagedfacts.com/financial-services-market-c83/.
About Packaged Facts
Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, consumer packaged goods, and pet products and services. Packaged Facts also offers a full range of custom research services. Reports can be purchased at our company website and are also available through MarketResearch.com.
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