- 58% of consumers identified mobile payments as being the most
important shopping-related technology to improve their buying
experience with biometric payments/cashier-less stores
at second (45%) and VR/Augmented Reality (AR) third with
25%
- Three in five consumers would be interested in using biometric
data to purchase products in-store (68%)
ASCHHEIM, Germany, Feb. 4, 2020 /PRNewswire/ -- Most shoppers are
now ready and waiting for retailers to implement innovative payment
methods and in-store technologies to improve their shopping
experience. These findings are part of a global study of 6,000
consumers in select countries in Europe, APAC and the Americas, commissioned by
Wirecard, the global innovation leader for digital financial
technology.
"Our research has found that the 'mass market' of shoppers are
now ready to use and adopt innovative new technologies that will
improve their in-store shopping experience and make it as easy as
possible for them to purchase products in the way that best suits
them. These technologies are no longer gimmicks or only used by
early adopters, yet many retailers are failing to listen to their
customers and keep up with their demands," commented Markus Eichinger, EVP Group Strategy at
Wirecard. "At a time when brick-and-mortar stores are struggling to
compete with online sales, combining payments with other
technologies is a fundamental step in adding value for
customers."
Key findings:
1. Convenience is king
Globally and regionally, consumers want to use new technologies
that make shopping experience more convenient. This includes
using:
- An app to purchase products using the self-checkout (71%
somewhat or very interested)
- A smart mirror to allow them to view additional products,
request other items and purchase goods without a checkout (65%
somewhat or very interested)
- Unmanned stores like Amazon Go (61% somewhat or very
interested)
- Virtual reality (VR) to try on items of clothing before buying
them online (61% somewhat or very interested).
Interestingly, shoppers from Malaysia, Thailand and Brazil were among the most open to using these
new technologies, with shoppers from the US, Australia and France among the lowest. Nearly all (93%) of
Thai respondents are very or somewhat interested in using an app to
purchase products using the self-checkout, compared to 62% of UK
consumers and 51% of Australians. Just 38% of Australians said they
are either very or somewhat interested in unmanned stores like
Amazon Go, compared to 56% of UK and 88% of Thai consumers.
2. Mobile payments are a given
Mobile payments are important to consumers and should be a
given. 44% of consumers said they either somewhat or strongly agree
that if a physical store didn't offer ways to purchase using their
mobile phone, they'd be less likely to shop there. 79% of Malaysian
consumers said they either strongly or somewhat agreed with
this.
When asked which shopping-related technology development they
would like to see implemented to improve their buying experience,
58% of survey respondents identified mobile payments as being the
most important, with biometric payments/cashier-less stores second
(45%) and VR/Augmented Reality (AR) third with 25%.
3. Biometric pays
Wirecard's research indicates that it pays for retailers to
implement biometric payment methods. Three in five would be
interested in using biometric data to purchase products online
(66%) and in-store (68%). Comparatively, 89% of Thai consumers
would be interested in using biometric data to purchase online
compared to 53% of German consumers. When using biometric data to
authorise payments, consumers are, on average, willing to spend
$56. This drops to $43 when authorization isn't required.
4. Voice-assisted shopping – not as far-fetched
as one might think
Despite often being dismissed as a gimmick, 57% either strongly
or somewhat agreed that using voice-assisted devices such as Amazon
Alexa and Google Home Hub would make shopping easier, and 44%
either strongly or somewhat agreed that they would trust
voice-assisted payments to do their weekly shopping. Once again,
Thai consumers were the most open to new technologies with 92%
either strongly or somewhat agreeing that voice-assisted devices
would make shopping easier, compared to 38% of Australians.
5. Customers do their homework online – while
in-store
Consumers are interested in using technology to research
products while they are in-store before they purchase. 74% are at
least somewhat interested in using an app on their phone or the
store's website on their phone to find out more about the product
they are looking at, while at least 72% have some interest in using
in-store screens such as tablets and 60% are at least interested in
using VR.
"A long way from being far-fetched gimmicks, our research shows
that there's a definite appetite for Virtual Reality,
voice-assisted shopping, and cashier-less stores. Something needs
to change if retail wants to revive footfall in physical stores.
The research is there – greater integration of technology is what
customers want. Retailers should instead embrace technology, in the
same way the modern shopper has," continued Markus Eichinger.
The independent survey was carried out by Vanson Bourne on behalf of Wirecard in Q4 2019.
A total of 6,000 consumers over the age of 18 in select countries
in Europe, APAC and the Americas
provided answers. For further insight and more information about
consumers' shopping behavior, download the full e-book.
About Wirecard:
Wirecard (GER:WDI) is one of the world's fastest growing digital
platforms in the area of financial commerce. We provide both
business customers and consumers with a constantly expanding
ecosystem of real-time value-added services built around innovative
digital payments by using an integrated B2B2C approach. This
ecosystem concentrates on the areas payment & risk, retail
& transaction banking, loyalty & couponing, data analytics
& conversion rate enhancement in all sales channels (online,
mobile, ePOS). Wirecard operates regulated financial institutions
in several key markets and holds issuing and acquiring licenses
from all major payment and card networks. Wirecard AG is listed on
the Frankfurt Stock Exchange (DAX and TecDAX, ISIN DE0007472060).
Visit us on www.wirecard.com , follow us on Twitter @wirecard and
on Facebook @wirecardgroup.
Wirecard media contact:
Wirecard AG
Jana Tilz
Tel.: +49(0)-89-4424-1363
Email: jana.tilz@wirecard.com