Advances in technology over the last decade have transformed mobile devices from simple phones into powerful computing tools. Today, owners of these devices can use them for everything from locating a nearby restaurant to paying for their gas and groceries. In order to understand current and future mobile commerce and payments behavior, Thrive Analytics surveyed a representative panel of 2,000+ U.S. consumers, matching the demographic profile of the U.S. adult population.
What we found was a surprisingly high number of U.S. consumers recognize digital wallets as an alternative to cash-based transactions however usage remains at less than one-third. Security concerns remain the main barrier to adoption, followed by lack of usability vs. credit cards/cash (37 percent) and not being top of mind as a form of payment at the time of purchase (32 percent). This report also provides a glimpse into what digital wallets consumers use, the products they are purchasing and what they are typically spending.
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Do you want to know how consumers are searching for local products and services? What media they are using prior to making a purchase decision? What mobile devices they are using? How they are paying for the services? Or what they doing on their mobile devices?
Thrive Analytics addresses these questions and more with our Local Search and Mobile Commerce research. We draw real-time insights from our panel of 11 million consumers in 50 countries to stay informed on the latest trends.
This research is great for any company. These insights can help you:
We surveyed 1,058 smartphone owners on their use of mobile devices when looking for information on local products and services. Top line results are as follows:
Two out of three Millennials (ages 18-29) prefer to use mobile devices first to search for local products or services.
They are two times more likely to look for local business information on their mobile device versus older generations.
Interestingly, when we asked consumers where they were when they first looked for local products or services it was an equal split between being at home or on-the-go. However, in the local store or mall is a different story. Millennials are three times more likely than older generations to use their mobile device while shopping “often” or “every time”. The main reason they use it is to compare prices of items (62%), look for coupons or offers (56%), just use them for shopping lists (51%) and look at product rating and reviews (45%).
While there are a plethora of apps to use on mobile devices, the top apps used while shopping include mobile search (61%), amazon (52%) and Facebook (50%). Other apps used include barcode scanner apps, shopkick, cartwheel, and store specific apps.
Millennials are two times more likely than older generations to have the information they discover in-store influence their decision to purchase a product and they are four times more likely to purchase an item online from a competitor. When probed further we found that finding a better price online, product reviews or peer recommendations via social media posts were the main drivers of the decision making process. This speaks volumes to the changes in technology and the impact it has on this particular segment.
Sixty percent of Millennials have “checked in” to a location and half of them do it on a daily or weekly basis. The main reason for the “check in” is to provide a social update or tell friends where they are. When asked what a local business could do to get them to “check in” seven out of ten stated they would do it if they received some sort of deal or offer.
Stay up to date on the latest consumer trending data.