NEW DATA: Two-Thirds Of Consumers Now Window Shop From Home

Brick-and-mortar is a no-go —literally. Consumers simply don’t visit physical stores to discover new products anymore. In fact, there is about a 58 percent chance that a consumer knew what they were going to buy before they even walked into the store to make their most recent purchase.

So, where are modern shoppers going for new, exciting products to purchase? Simply put, they are going everywhere. Consumers are shopping in their homes, in the car, at the store, on the bus and even at work — all using their smartphones.

More than one-third (35 percent) of consumers between the ages of 25 and 34 say they typically find new products by browsing on their smartphones. What’s more, 44 percent of consumers who bought goods from a mass merchant did so remotely, via their smartphone.

More importantly, they are doing it because they like to — and because they can.

In the Remote Payments Playbook, the PYMNTS team collected and analyzed survey data from nearly 5,000 American shoppers to learn how connected devices have shaped every step of their shopping journeys — how they browse selections online and in-store, how they discover new products and, finally, how they pay for those products.

Before conducting this research, we knew that computers, smartphones and tablets had changed retail forever, but we had no way of knowing exactly how, or how much. Modern consumers take out their phones and start browsing whenever they have a spare moment, with two-thirds of the people who pay remotely via mobile doing so at home, 15 percent in their car and 6 percent at work.

Moreover, 73 percent of shoppers who paid remotely via smartphone first found the item they purchased online.

Other key findings explored in the report include:

  • 58.9 percent of consumers who made a purchase via smartphone were women
  • 63.8 percent of shoppers who bought something via smartphone first discovered that item online
  • 25.7 percent of consumers say they typically pay for purchases via smartphone

To learn more about how central the smartphone has become to the modern shopping experience, download the report.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.