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Over half of online shoppers would use wearables for purchases

As many as three quarters of shoppers are making mobile purchases each month and 64% say they would be willing to make purchases on wearables if they had one, research by e-commerce provider Avangate has found.

Despite this – and the fact that around 26% of consumers are spending at least a third of their disposable income on recurring online purchases, the study warns that businesses are still losing out on billions of dollars thanks to revenue leakage and missed opportunities.

Mobile is now a crucial part of retailer’s fundamentals. So in order to stay one step ahead of the competition, retailers are still looking for solutions and practices to maximise the opportunities and including specialized professionals in their teams.

Avangate said two of the greatest weaknesses in mcommerce are Credit card failure and clumsy payments processes. As a result of them, customers don’t get the services they want online and so don’t spend where they would.

In fact, 38% say payment experiences directly impact their willingness to make repeat purchases. Mobile services that require data entry are most inconvenient, with a quarter of consumers saying this would put them off using them.

However, the rise of Apple Pay and Samsung Pay are likely to make using mobile to pay for things even easier and could well propel mobile payments into being the payment mechanism of choice for most consumers.

The convenience and ease they potentially offer could cure most of the ills associated with payments online, on mobile and in store.

This is likely to extend in spades to wearables which could make payments even easier with NFC or simple one click payment online.