Worldpay: Chinese consumers expect a more comfortable mobile shopping experience

Chinese consumers expect a more comfortable and personalized mobile shopping experience. The better the mobile shopping experience, the more willing consumers are to pay more for products or services. These are the latest findings from a survey by Worldpay, a leading global payment service provider.

Worldpay surveyed 16,000 consumers in 10 global markets, including China, India, Japan, the UK, the US and Brazil, to understand their most recent mobile shopping experience and what prompted them to pay. The survey found that in emerging economies, mobile payment applications are expected to become a must-have for a comfortable shopping experience in the future.

Key findings on the Chinese market include:

• 62% of Chinese consumers are willing to pay more for products, travel or services if they have a better mobile user experience, which is much higher than the global average of 41%;
• 54% of Chinese consumers are more likely to shop via mobile if a nearby merchant sends them a personalized notification, far exceeding the global average of 35%;
• Chinese consumers prefer shopping through apps and mobile browsers (80% apps, 20% browsers), second only to India but higher than the global average (71% apps, 29% browsers);
• On the other hand, Chinese consumers are more open to apps storing their payment information than consumers elsewhere in the world, as it saves them from having to re-enter it the next time they make a purchase (68% of Chinese consumers vs. 57% of the industry average).

In addition, Chinese consumers are also at the forefront of accepting biometric technologies as long as these technologies can save payment time. When using mobile applications to make purchases, the main reason that consumers ultimately cancel is that the application does not support their preferred payment method.

Globally, when asked about their last mobile purchase, the majority of consumers (71%) would prefer to purchase via an app over a mobile website (29%). Speed ​​and ease of use are the main reasons. However, despite the widespread use of apps for mobile shopping, security and usability remain the biggest concerns. Consumers in emerging economies place greater emphasis on user experience, while consumers in Western countries are more concerned about security.

Key global research highlights include:

• Consumers in emerging economies are willing to pay more for products, services and travel if the user experience is better. Consumers in Brazil (53%), China (62%) and India (64%) agree with this, while only 31% of consumers in the UK, 32% in Germany and 37% in the US agree.
• Consumers in Brazil (63%), China (67%) and India (66%) are willing to provide biometric data, such as fingerprint scans or facial recognition information, to an app if it speeds up payments, compared to 46% in the U.S. and 49% in the U.K. Consumers in Japan are more concerned about security than consumers in other markets, with only 32% willing to provide biometric data.
• Indian respondents (60%) were most willing to pay more for products, services and travel if the payment experience was better, followed by Chinese (57%) and Brazilians (51%); while the UK was only 28%, Germany 28% and the US 33%.

Chen Guoshan, General Manager of Worldpay China, said: "Consumers in emerging economies, especially China, India and Brazil, are very active mobile users. They have surpassed the traditional online shopping model and now expect mobile terminals to provide personalized, comfortable and convenient shopping experiences. These consumers use smartphones to purchase high-value bulk goods, and if the shopping experience provided by merchants is good enough, they are even willing to spend more. Therefore, online merchants who can provide the right consumption experience will benefit a lot. At the same time, in order to fully utilize the mobile shopping opportunity, merchants must consider the security needs of smartphone users when shopping."

Chen Guoshan added: "Merchants can help alleviate consumers' security concerns by providing a fast, seamless and familiar mobile payment experience. One way is to store payment information so that consumers don't have to enter it again the next time they make a purchase; or simply provide a range of payment options so that consumers can choose their preferred payment method. For example, in China, the number one reason consumers ultimately cancel orders when shopping on smartphones is the lack of their preferred payment option. This also reminds us that merchants must be able to provide a comfortable and convenient mobile payment experience if they want to capture this emerging group of shoppers who seek comfortable mobile consumption experiences."

Worldpay’s research also covers some specific industries around the world:

• More than 40% of shoppers would switch to a competitor if a retailer doesn’t offer a good mobile shopping experience. In China, that number is as high as 68%.
• When it comes to online travel, 57% of travelers say they store personal and payment information to allow for faster processing of rebookings. In China, 66% of travelers say they would do so.
• Consumers in Brazil and China have the most digital content (e.g., movies for streaming or downloading, movies, TV, music, games) apps installed, at an average of five.