PLEASANTON, Calif.—As consumer spending returns, a new report from global payments provider Blackhawk Network has found that the 2020 e-commerce surge created shopper affinity around the world for retailers that offer digital payments. The Global Digital Payments study found that surveyed shoppers across all regions reported they spend more money and have a deeper connection with retailers that offer more digital payment methods.
Across all regions, 69% of digital wallet users surveyed reported shopping more often since using a digital wallet, and 54% report spending more money at retailers where they can use digital payments. “Shoppers continue to look for easier ways to tap into mobile wallets, digital gift cards, rewards and loyalty points, and as a result, are increasingly seeking retailers that have embraced digital and contactless payments,” said Theresa McEndree, global head of marketing at Blackhawk Network, in a press release.
“Our research shows that consumers around the world are drawn to retailers that offer fast, seamless and secure digital payments. As we start to hit more of a stride in our economic recovery, the winners will be the merchants that cater to the everyday digital payment preferences of today's shopper.”
The report provides a global look at how consumers are using digital wallets, gift cards and rewards, and what motivates them to continue these behaviors over the next year. The research also explores what encourages consumers to shop with a specific retailer, and how shoppers may deepen their affinity for retailers that offer and accept digital payment options. Countries included in the research are the United States, Australia, Brazil, Canada, Germany, India, Mexico, the Netherlands and the United Kingdom.
Key trends from the report include the ecommerce surge, which created a shopper connection with retailers that offer digital payments. The adoption of digital wallets, digital gift cards, QR codes and barcodes accelerated in the past 12 months. Survey data indicates these digital payment methods have an impact on how shoppers feel about a particular brand—and how likely they are to frequent that retailer.
The rise in digital payments is a bright spot for retailers that are embracing digital payments. Surveyed shoppers across all nine countries report they will spend more money and have a deeper affinity for retailers that offer more digital payment methods. Along with shopping more frequently (69%) and spending more (54%) at retailers where they can use digital payments, a majority of shoppers surveyed (85%) also reported that digital wallets have made shopping easier.
Consumers have missed the in-store shopping experience. Fifty-one percent of surveyed shoppers rank the ability to see and touch items in-store before making a purchase as one of the most important factors when they are able to return to their pre-pandemic shopping habits.
Read more about mobile payments in “What’s Next for Mobile Pay?” in the July 2020 issue of NACS Magazine.
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