Our global mobile payment survey delivered some big surprises
60% of digital sales last year were completed through mobiles, while overall retail eCommerce sales reached $2.3 trillion – a near 25% increase from the previous year’s estimates1. But this doesn’t mean everyone is shopping on their mobiles in the same way.
Each local market has its subtle differences, and the way consumers are used to paying varies from country to country. What works in Brazil, won’t work in Australia – and if you’re thinking of opening a business in either these countries, the mobile shopping experience you offer could make a huge difference to your bottom line.
With that in mind, we asked 16,000 smartphone users in 10 countries their mobile preferences; what’s most important to them, what would make them buy more and what would stop them in their tracks. Along the way, we uncovered some big surprises. Here are a few of the biggest:
Many shoppers still feel unsafe online
Deloitte forecasts that global users will have as many as 200 online accounts each by 2020, each requiring authentication to gain access2. However, while online security has become part and parcel of everyday life, it’s still a considerable fear for many.
In Australia for example, the biggest reason for a consumer dropping out of purchasing something added to a mobile phone basket in the last 12 months is a concern over mobile website or app security (25%). And those who prefer not to save their details on a retailer’s site (57%), also say it’s because of their concerns over security. Some markets would feel comfortable embracing biometric authentication to combat this issue, but others emphatically wouldn’t.
In the USA, 64% of the people we asked preferred apps, while 36% chose mobile websites
The app vs browser debate is still extremely relevant
Most of the markets we surveyed showed a preference for shopping through an app, rather than a mobile site. But in several countries, there was a significant split between consumers who preferred either platform. This shows how important it is for businesses to tailor their offering for each market. If they fail to do so, they could put off millions of potential customers before they even get started.
In the USA for instance, 64% of the people we asked preferred apps, while 36% chose mobile websites. Given the scale of the American eCommerce market, the latter figure could represent around 75 million potential customers3 – a vast group of buyers that businesses should pay keen attention to.
There is a huge disparity between preferred communication channels
In the UK, 66% of shoppers would rather receive their communications through email. In South Korea, just 12% feel the same way, while 60% would rather receive a text message. We found similar discrepancies in every market – suggesting that it’s not always what businesses say that matters, it’s how they say it. To build loyalty among their customer base, it’s vital that businesses adjust their comms strategy for each and every new region.
There was one universal theme though. None of the countries we surveyed chose push notifications as their overall preferred channel. The nation with the highest proportion of people who preferred to receive communications in this way was South Korea, with 22%.
For more in-depth insight, take a look at the results from each country in our retail market guide here.