Digital payments now predominant in the purchasing process, report finds

Key findings:

• Consumers need consistent offerings across all sales channels: while 70% of shoppers across the world preferred to purchase in-store over the past 12 months, compared to on desktop sites (39%), and mobile apps and sites (32%), the research shows that consistent cross-channel experiences are vital to consumers. Australians are most likely to shop in-store (81%), while mobile apps are especially popular in Hong Kong (59%) and Singapore (53%). The ultimate choice where to purchase depends on what is being bought: while 77% of consumers buy groceries in-store for example, when it comes to holidays, the majority (57%) are buying online.

• Merchants not offering Unified Commerce possibilities might lose out: the rise in popularity of more advanced cross-channel purchasing options, such as buying online and then picking up in-store (BOPIS), further supports this finding. More than two-thirds (70%) of respondents say that if a brand or merchant doesn’t offer these kinds of options, it would influence their decision to shop there. In Hong Kong, this figure even exceeded 90%.

• Shoppers are ‘always on’ so maintaining an up-to-date online shop is key: consumers will shop online most often while they are relaxing (74%), watching TV (48%), or in bed (37%). Especially the French like to shop online when on holiday (33%), considerably more than the global average of 22%.

• Consumers appreciate data-driven services and offerings: the vast majority of consumers value data-driven, customer-centric value-added services, with loyalty programmes being used by 88% of those surveyed.

• Cashless payments are omnipresent: 94% of respondents are now using cashless payment methods when they shop in physical stores. When it comes to online shopping, 91% stated that they have chosen digital payment options. The main reasons for paying cashless are speed (35%) and convenience (30%). While card payments remain the most popular method for cashless payments worldwide, mobile wallets are significantly more popular in Asia, with an average of 45% of consumers in Hong Kong and Singapore regularly choosing this payment method versus the global average of 25%.