As a previous article advanced, the shopping industry is experiencing several changes. This post will
explore more of these trends.
Time-saving services
Consumers of all age groups have revealed that a common reason for them trying
new payment methods is that they allow them to save time. This was advanced by
53% of respondents. Additionally, 47% have disclosed that they wish to avoid
cash. Nonetheless, some clients are still concerned about cybersecurity and data protection issues.
Safe payment services
Speaking about safety issues, 68% think that cash and chip cards are the most
secure forms of payment solutions. 64% advance the same for digital money
transfers, 62% for contactless cards and 59% for mobile wallets. As such, it
seems that consumers are starting to trust emerging settlement services.
Cryptocurrency
This has been coming for quite a while. For the past couple of years, there
have been developments in the world of virtual currency, nonetheless, nothing
concrete happened. It seems that the time has finally come. When it comes to
consumers, millennials are more intrigued about cryptocurrency than
other age groups. 6 in 10 people advance they are more open to using digital
money than they were a year ago.
Age variations
While millennials are more open to alternative payment methods, even Gen-Z are
trying newer ways to process settlements such as via smartwatches,
smartphones or using crypto.
Cryptocurrency is becoming more popular © Royalty-free image
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