Tag: mobile shopping

Minority of consumers want to make mobile payments during the holidays

| November 25, 2014

New survey shows that 30% of smartphone users plan to make mobile payments in stores

The holiday season is rapidly approaching and retailers expect to see a great deal of activity in the mobile commerce space. Some may be too cavalier with their expectations, however, as a new survey from Stratos suggests that mobile shopping is only an interest to the minority of consumers. The survey found that 30% of smartphone users plan to pay for products in physical stores using Apple Pay or Google Wallet.

The demand for in-store payment support is rising, but consumers are slow to respond to new services

In-store mobile payments are still rare, but retailers have been investing heavily in bolstering the infrastructure to support these payments over the past year. Many retailers want to see consumers use their mobile devices in their stores, expediting the checkout process and taking advantage of the mobile services that these retailers have employed. Consumers may be more prone to shop online with their mobile devices, however, rather than use their devices to purchase products in physical stores.

Lack of awareness among consumers may be the reason behind slow adoption

Mobile Payments - Holdiay SeasonThe survey also found that 69% of consumers do not know which retailers actually accept mobile payments in their stores. Many retailers have been sluggish in promoting their mobile commerce services, which has lead to a lack of awareness among consumers. Some retailers are not convinced that mobile commerce is a worthwhile investment. While they have taken moves to support mobile payments, they have only done so to accommodate consumer demand to a modest degree.

Consumers may favor mobile commerce as a way to avoid having their payment cards lost or stolen

The survey found that the most popular reason consumers would use mobile payments was to limit the threat of having their credit or debit card stolen. During the holidays, stores become packed with shoppers. Some seek to exploit the financial information of others by stealing their payment cards. In other cases, the commotion at stores can cause people to misplace and lose their payment cards. While mobile devices are not theft proof, consumers often keep a better handle on their smartphones than their payment cards.

Canadians are slow to embrace mobile payments

| November 24, 2014

Mobile commerce is experiencing lackluster growth throughout Canada

Mobile payments may experience lackluster growth in Canada. A new study from GfK, a global market research firm, shows that Canadians are somewhat apprehensive when it comes to using a smartphone to make a payment. While Canadians have developed a reputation for being early adopters of new technology, they are not convinced that mobile commerce is a good solution for shopping or as secure as it should be. Notably, security is one of the biggest issues that consumers in Canada are concerned about.

Study shows that security concerns are a major issue for Canadians interested in mobile commerce

According to the GfK study, Canadians consider security to be a major issue when it comes to mobile payments. Many mobile commerce services have become available in Canada, but relatively few of them have proven that they are capable of ensuring the safety of consumer financial information. Some high-profile cyber attacks in the United States and Canada have also called into question whether or not mobile commerce services are safe.

Canadian consumers are more interested in traditional forms of commerce due to extensive experience and the availability of familiar services

Canada Mobile Payments - slow adoptionThe study also notes that Canadians may not be interested in mobile payments because they already have plenty of ways to pay for products in stores. ATM transactions are significantly larger in Canada than they are elsewhere and the country’s ATM and debit card structure is well designed to meet the needs of consumers. In order for mobile commerce to grow in Canada, consumers would have to train themselves in new ways to purchase products and break old habits concerning physical currencies and payment cards.

Retailers are revising their mobile focus and putting more effort on providing consumers with convenient services

Some large retail organizations have been making moves to establish a foothold in the mobile commerce space, but have found relatively little support among consumers. As such, retailers have begun to pull back their mobile initiatives, focusing more on traditional forms of commerce and giving consumers access to services they may be more comfortable with.