When shopping, Americans prefer to pick up their products in-store, while Australians prefer to buy now and pay later

BigCommerce and PayPal released a new survey report. They obtained this survey report by interviewing 3,000 consumers from the United States, the United Kingdom, and Australia. According to the survey results, the way and place of consumers' purchase of products have changed significantly after the epidemic.

Online shopping is more popular

In the survey, 95.2% of respondents said they had made at least one online purchase since March 2020. 62.5% of respondents said they shopped online most of the time. 32.6% of American respondents, 29.9% of British respondents and 29.7% of Australian respondents said that the convenience of online shopping still outweighs any disadvantages.

Consumers prefer digital payments

According to the survey, more and more consumers prefer to use digital wallets. Before March 2020, 28.3% of people preferred digital wallets for payment, and one year later, the number of people who preferred digital wallets for payment rose to 35.2%, an increase of 24.5%. In physical stores, this trend is even more obvious. Within a year, this figure rose from 12.1% to 22.8%, an increase of 88.7%. The vast majority of respondents said that they prefer merchants to provide more digital payment options.

“70% of consumers are willing to spend more at stores that offer their preferred payment methods,” said Mark Rosales, vice president of BigCommerce. This means that stores that can offer more payment methods that customers prefer can achieve significant sales growth.

Consumer preferences in different regions

The reason why consumers like online shopping is not only because it is more convenient, but also because there are various purchasing methods, such as buy online and pick up in store (BOPIS), buy now pay later (BNPL), etc. However, consumers in different regions have different attitudes towards them.

After March 2020, there has been a significant increase in the number of people using BOPIS, especially in the United States, where the number of people using the service soared by 373%.

More and more e-commerce companies are offering buy now, pay later services to consumers. Nearly half of consumers said they have used this service, but only 10.1% of respondents use it frequently, with Australia, which is in the leading position, only 15.5%. Most consumers said that buy now, pay later would incur additional fees (such as interest) or they were simply not familiar with this consumption method.

If merchants can explain to consumers the benefits of buy now, pay later, or provide interest-free payment options, it will be more likely to motivate consumers to make purchases.

E-commerce

American Consumers

PayPal