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BizReport : Ecommerce archives : November 17, 2014

Avangate: Survey highlights changing ideas about payments

Turns out consumers don't want to be bothered with reminders about products, and in some cases simply want the books, movies, clothing or software to arrive regularly on a subscription bases.

by Kristina Knight

New data out from Avangate highlights consumers' changing ideas about brands and shopping. According to their data most (60%) of those surveyed have set up at least one recurring payment option and 71% 'want' recurring subscriptions without monthly reminders. Some other interesting findings from the report include:

• 46% say they won't purchase subscriptions without a freemium option attached
• 40% don't use mobile payments because of security fears
• 23% of 18-29 year olds 'know about' mobile payments but don't use because merchants haven't made it available to them
• 37% feel 'somewhat secure' about online payments, 24% feel 'very secure'

Meanwhile, Of those who do use mobile payment options nearly one-third (28%) of 18-29 year old do so on a monthly basis while about 30% of 30-44 years olds do the same.

The one place consumers agree they would prefer to pay online - bills. From mobile and cable bills to electric and water, nearly 40% say they prefer paying bills online. As for recurring payments:

• 53% have set up recurring payments
• 67% 'prefer recurring payments' for subscriptions and bills
• 57% of 18-29 year olds haven't set up recurring payments
• 57% of 60+ year olds have set up recurring payments

Meanwhile, the survey found that nearly half (45%) of shoppers prefer comparing products and pricing on 3 to 4 different channels before making a purchase decisions.

Image via Shutterstock

Tags: Avangate, ecommerce trends, m:commerce, mobile marketing, online payments

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