New Study Finds Majority of Shoppers Plan to Use Mobile Payments This Holiday Season
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Ibotta, the mobile rewards and payments platform, released findings today from its 2019 Holiday Shopping and Mobile Payments Study, reporting two-thirds of shoppers plan to use mobile payments for holiday shopping.
The survey detailed mobile payment solutions and platforms including Apple Pay, Google Pay, Pay With Ibotta, Samsung Pay, Starbucks Rewards, Target Cartwheel and Zelle, among others.
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“The way in which consumers shop this holiday season will be drastically different than how they’ve shopped in the past, signaling a major milestone in user adoption, comfort and trust of mobile payments,” said Bryan Leach, founder and chief executive officer of Ibotta.
Many respondents said they are using multiple programs with mobile payment options. And while 60 percent of shoppers said they had three or more rewards or payment apps installed on a phone, 15 percent of shoppers told Ibotta they have eight or more.
Not all consumers were as comfortable with the abundance of options. In fact, just over half of consumers said they are overwhelmed by the “volume of mobile payments and rewards programs available.”
Meanwhile, according to Ibotta consumers using mobile payments are being highly motivated by incentives to save money. While 63 percent, of respondents who have used mobile payments for an in-store purchase, said they were “motivated by payment methods that offer rewards, rebates and cashback offers,” an additional 55 percent said they would be “inclined to adopt mobile payments if the solutions saved them money.”
“Since we started rolling out Pay With Ibotta earlier this year, we’ve seen firsthand that consumers are interested in and willing to use solutions that provide rewards and maximize their savings,” Leach said. “Heading into 2020, we are focused on growing our payments ecosystem with instant cashback that results in a fun and rewarding shopping experience for consumers.”
Further, the company noted convenience as a key appeal for mobile payments, finding 54 percent of respondents reporting it is a more convenient solution than using card payments in-store. Additionally, shoppers said they are more likely to try a mobile payment app when it is with a well-known brand, with over 65 percent saying they are “most likely to use them at major retailers.”
For More WWD Business News:
Can Online Retailers Confront Their Hidden, Human Costs?
Retail Sales Hold Steady Ahead of Holiday Season
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