Retailers are lagging in the crucial area of mobile commerce according to the new survey of Paypal.
The recent global mobile commerce survey research done by Ipsos, commissioned by Paypal, it showed that 78% of consumers used smartphone to purchase or make payment online. Only 63% of retailers have “mobile-optimised” site or app.
Mobile commerce is common is almost all consumer generations where 87% of it are Gen Z and millennial, 80% Gen X and 65% are baby boomers. Only 49% of older than baby boomers (born before 1946) engaged in mobile commerce.
The aspects of mobile commerce that attracts customers to engage in mobile shopping were ease for making payments (44%), ease of using device for shopping (44%), saving time while shopping (43%), and saving time while paying bills (40%).
While the clear barriers to mobile commerce is slowness/effort barriers - such as slow page loading, long forms, apps not loading, etc. (61%). Other popular barriers are security/trust issues (51%), and payment problems (35%). Interestingly, women (55%) were much more likely than men (48%) to see security/trust issues as a barrier to mobile commerce.
Overall, mobile payment by smartphone or tablet is the most popular way to make a payment online (44%), followed by laptop/notebook (30%), and desktop (21%). Preference for mobile online payment is most pronounced among Gen Z and millennials (53%), followed by Gen X (43%), baby boomers (28%), and older consumers (17%). Women (48%) prefer mobile payment more than men (39%).
Source: Chain Store Age
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