Millennials are even more likely to pay more for products that come from a better mobile shopping experience. The overall population keyed in at 37% willing to pay more; Millennials keyed in at 44%. Millennials were also found to be more likely to 'reward' merchants and brands offering a top-notch mobile experience.
All mobile commerce news isn't positive, however. Security continues to be a concern. In fact concerns about browser security are the top reason that mobile shoppers abandon their carts; researchers also found most (77%) mobile shoppers only download shopping apps from brands/stores that they trust.
Other interesting findings from the report include:
• 46% say they would offer 'biometric' responses - retina scans or fingerprints - for a faster payment option
• 59% expect to see mobile security icons or features on merchant homepages when purchasing via an app, 54% expect to see security icons when purchasing from a mobile browser window
• 68% of US consumers prefer making mobile purchases via app, 32% via browser
"Our research reveals that security concerns are the number one reason for smartphone basket abandonment in the US. Merchants can help to mitigate shoppers' security fears by providing a mobile payment experience that's quick, seamless and familiar. This might mean implementing the latest in biometric technology, such as fingerprint scanning and facial recognition, as an extra layer of security, and prioritising healthy user ratings on the app store," said Shane Happach, Executive Vice President & Head of Global Enterprise eCommerce, WorldPay. "Online merchants that can deliver the right experience have much to gain, as shoppers are making bigger, more valuable purchases via their smartphones and are even happy to spend more with merchants that deliver a better experience. The beauty of technology advancements means that there are more opportunities for virtual assistants and connected devices to make consumers' lives easier. Brands that focus on offering consumers a five-star personal shopping service from their pockets, and an increasingly invisible checkout process, will see fewer abandoned baskets, more app downloads, and increased sales of more valuable goods and services."
The report is a collaboration with Opinium. The full report can be found here.
Tags: ecommerce, M:Commerce trends, mobile commerce, mobile marketing, Opinium, WorldPay
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