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The Mobile Wallet is Making Holiday Shopping More Jolly
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The Mobile Wallet is Making Holiday Shopping More Jolly

It’s the holiday season, and that means it’s shopping season. And as friends and family members prepare to exchange gifts and good tidings this season, the mobile wallet plays an indispensable role as consumers choose and buy their gifts. It also provides far more shopping agility than a traditional billfold or money clip while providing a plethora of opportunities for advertisers and marketers to reach consumers looking for ease and efficiency as they go about their holiday shopping.

But consumers aren’t just using their mobile wallets to buy for others. Rather, they’re using them throughout their journeys, whether it be to gas up on the way to the mall, pay for a latte in the food court, or feed the parking meters along their journeys. In fact, the abundance of places where consumers use mobile payments are as varied as the gifts they plan to give. To better understand how consumers are using their mobile wallets, Nielsen’s second-quarter 2016 Mobile Wallet Report looked at how often mobile wallets are used by merchant category. In looking at the results, 8% of consumers use them every day at cafés and bakeries, followed by quick-service restaurants (7%). Grocery stores, gas stations, department stores, book stores and parking meters all tied at 6%.

When it comes to frequency of usage, 28% of consumers use mobile payments at a grocery store or supermarket once a week, while 22% of consumers use them at café/bakery, quick-service restaurants and gas stations. Fourteen percent of consumers use mobile payments at fine dining restaurants.

When searching for the perfect gift, consumers appreciate the convenience and security of peer-to-peer payments when on the go. In fact, 60% of mobile peer-to-peer payment users said that account safety was the most important attribute, followed by ease of cash outs (45%) and ease of account setup (42%).

Among peer to peer users, 63% said transferring money to friends and family is the primary reason they use peer-to-peer payment apps, with 27% of them using peer-to-peer payment apps to transfer money overseas. Entertainment was cited as the second-most popular reason (33%), followed by dining and purchasing merchandise (31%).

Methodology

The insights from Nielsen’s Q2 2016  Mobile Wallet Report were gathered from 3,787 respondents who are U.S. adults and have used their smartphone or tablet for mobile buying, paying or banking in the past 30 days. The respondents completed an online, self-administered survey in English.