Explore the motivations of UK consumers with our 2018 Consumer Behaviour and Payments Report
The way consumers shop and buy is constantly evolving, with new technology having an unprecedented impact on the customer experience. Earlier this year we surveyed over 2,500 consumers across the UK and analysed their behaviour across the different buying channels.
In this report we have analysed consumer behaviour and preferences across online, in-store, and mobile. We hope that the findings will help you to better understand the current mind-set of your customers, what they expect from their experience across different channels and how that might affect your payment strategy.
The key learnings
Convenience comes first
Today’s consumers are increasingly intolerant of any obstacles during their shopping experience, both online and in-store. Almost one in four have abandoned an online purchase because they had to input too many payment details.
Mobile is fundamental
Mobile shopping and payment is at the heart of everything, used for online shopping, in-store research, and this means you must optimise your checkout experience. 63% of consumers believe that within 5 years their phone will replace their physical credit and debit cards.
Use new technology wisely
The success of voice-activated devices shows that most consumers are ready to adopt the newest technologies, as long as it benefits them. This is good news for drones, as they might be the next big thing. 65% of millennials have used a chat function on a retailer’s website.
Be transparent about data
Data and privacy are a hot button issue for consumers. Brands need to offer clear benefits and incentives if they want their customers to hand over their details – and reassure them that it’s a safe and convenient thing to do. 57% of 16-20 year olds are happy to share payment information for future purchases.
To access the report please click here.
¹ This report is based on a survey conducted in June 2018 of 2,522 consumers from across the UK, analysing their behaviour across different buying channels. The research was undertaken by Research Now on behalf of Worldpay.