Thursday , July 18, 2019

More Consumers See Smart Phones As Crucial Shopping Tools, Though Their Payment Use Lags

As the holiday shopping season swings into gear, look for more consumers using their smart phones for shopping—but not so much for making a mobile payment, says GfK, a Germany-based consulting firm, in its latest FutureBuy research.

Forty-five percent of all U.S. consumers rank mobile devices, including smart phones and tablets, as “quickly becoming [their] most important” shopping tools, says GfK. As for making a mobile payment, however, 17% say they used a smart phone or tablet in the last six months to pay for a product. The global average is 19%, and the peak is 29% in Asia Pacific.

Among all consumers, 29% agree that making a payment with a mobile device is more secure than other methods. That’s up from 23% in 2017. But among the most ardent mobile shoppers, 71% agree.

Thirty-four percent say they are confident their mobile device payments are 100% secure. That’s an increase from 28% in 2017. Again, the most ardent shoppers have more faith in security, with 70% agreeing.

Still, the research, culled from an online survey completed by 1,000 U.S. consumers, finds that many—28%—say they look forward to being able to make transactions with a mobile device. That’s up from 17% in 2015.

As for shopping behavior, 36% use a smart phone to compare prices and 30% gather product information with the device. Thirty percent check product reviews, 26% pay for products; and 25% check on items’ inventory status.

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