The Strawhecker Group and Electronic Transactions Association released a Consumer Holiday Spending Survey report indicating that customers are choosing a variety of payment options this holiday season according to a press release.
For in-store purchases, over 72% of consumers will use electronic payments which includes traditional credit/debit cards, contactless cards, and digital wallets as the top methods. For shopping online, credit/debit cards were cited as the consumer’s number one choice, followed by one-click payment options and digital wallets.
Consumers are choosing payment options that are quick and secure. The survey showed 81% of consumers have used one-click payments and 37% are using one-click frequently. Customers using contactless payments (61%) reported they had a positive experience and many consumers also used “buy online pick-up in-store” and curbside pick-up (27 %), digital wallets (25%), and delivery services for gifts (27 %).
“As we’re all aware, the COVID-19 pandemic has changed the way most consumers work and live,” Jodie Kelley, CEO of ETA said in the release. “Fear of exposure to the virus has led businesses to expand their digital offerings and consumers to rely increasingly on digital, mobile, and online channels to securely conduct day-to-day activities.”.
For the survey TSG and the ETA surveyed 961 consumers in the U.S. from Nov. 9-to-11, 2020 across various U.S. regions and industries.