With the rise of mobile commerce, comparison shopping has never been easier. With a few taps on their smartphones, consumers can instantly compare prices and reviews of products from a variety of retailers. This convenience has made comparison shopping a popular activity among mobile users, with nearly half of all shoppers using their phones to compare prices before making a purchase. While this trend is good news for consumers, it has created a challenge for retailers who must now compete not only on price but also on the quality of their mobile shopping experience.
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Data for today’s episode is provided by Mercator Advisory Group’s Report: 2022 North American PaymentsInsights: Navigating Mobile Payment Technology Adoption
Mobile Phone Use for In-Store Comparison Shopping:
- 68% of consumers used a mobile phone to check prices online for items of interest.
- 67% of consumers used a mobile phone to research a product in more detail.
- 60% of consumers used a mobile phone to read user reviews for items of interest.
- 52% of consumers used a mobile phone to search for an electronic coupon.
- 41% of consumers used a mobile app that enabled them to shop for similar items.
About Report
Mercator Advisory Group’s most recent report, 2022 North American PaymentsInsights: Navigating Mobile Payment Technology Adoption, analyzes the informed and savvy shopper’s preferences and influences regarding use of mobile payment technology and digital payment adoption. Purchasing behaviors of consumers are highlighted and compared as they make purchases in stores, in apps, and on the web.
The report is based on the North American PaymentsInsights survey, administered in 2021 to a U.S. nationally representative sample of 3000 consumers, ages 18 years or older.
“User preferences are vital influences on smartphone adoption, which seem to be a low-risk option for most. However, the adoption of digital wallet technology seems to be a concern for some.” says Amy Dunckelmann, VP, Research Operations at Mercator Advisory Group.
