Online payments survey – 64% of consumers will buy via wearable devices
Online services, which covers an array of services from video and music streaming to renting weekend holiday accommodation, has made customers lives easier. Consumers have high expectations for a smooth transaction with lots of options, free trials and excellent customer service. Any slowdown in the process, which could include removal of certain purchasing models, can end the transaction and the relationship.
To reduce even more friction, Samsung and Apple are trying to arm wearable technology with commerce features. Avangate, whose eCommerce technology is used by businesses such as HP and Kaspersky to sell software online, releases a survey and infographic today on how 1,000 consumers search, select, use and pay for online services. Here is the link to the infographic and key findings below show:
- More consumers are also becoming “power users” – with 15 per cent paying for more than five online services in the last year versus just two per cent of the population in June 2014.
- 97 per cent of consumers prefer flexible purchasing options when selecting premium online services. 6 out of 10 people will only subscribe to a service if it has a freemium option.
- Over half (56 per cent) of consumers have replaced their credit card at least once in the last year.
- Nearly two-thirds (64 per cent) of respondents are willing to make a purchase on a wearable device.
- Excessive checkout processes, manually re-entering payment information and inflexible payment options are three of the most common factors that negatively impact consumer purchasing decisions.