A new report from mobile marketing company Vibes reveals that a majority of US are interested in mobile wallets like Apple Wallet and Android Pay, and that the ability to participate in loyalty programmes and download coupons are primary reasons consumers engage with brands via mobile. The key takeaway: mobile wallet technology will become a critical necessity to the future of customer loyalty.
The survey, Vibes' "2016 Mobile Consumer Report," captured consumer data from over 1,000 US consumers. Here are a few highlights from the report:
- About a third (32%) of smartphone users currently use a mobile wallet like Apple Wallet and Android Pay.
- Over nine in 10 (94%) mobile wallet users are likely to save personalised mobile wallet offers and coupons.
- Approximately eight in 10 (82%) smartphone users report that digital coupons are convenient when compared to printing out coupons and bringing them to the store.
- The majority of consumers (59%) say their opinion of a retailer would become more positive if they started to receive coupons and offers that could be saved on their smartphones.
- Two-thirds of respondents (66%) would have a more positive opinion of a loyalty programme if the programme allowed them to store and access their information on their smartphone in a mobile wallet app.
- Almost six in ten respondents (59%) want to receive text alerts (SMS / MMS) with updates on their orders from retailers and brands.
- Seventy-seven percent (77%) of smartphone users say receiving surprise points or rewards, exclusive content and special birthday or anniversary mobile messages would have a positive impact on their brand loyalty.
Our take: Mobile wallets will continue to gain traction with consumers, but the potential balkanization of mobile payment�with device manufacturers, technology start-ups, payment providers and retailers all vying for a piece of the mobile payments pie with competing proprietary wallets and payment apps�will make it difficult for any payment option to achieve critical mass with consumers. Look for a loyalty arms race as mobile wallet providers search for the right combination of incentives to drive adoption.
You can download the full report here.