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US Mobile Payments Market Report 2021 - Lifestyle Commerce Drives Expanding Mobile Sales Channel for Merchants

  • ID: 5359510
  • Report
  • July 2021
  • Region: United States
  • 16 Pages
  • Mercator Advisory Group
Lifestyle Commerce Sets the Pace for Retail Sales Growth

FEATURED COMPANIES

  • Ahold Delhaize
  • Burger King
  • Domino’s
  • FutureProof Retail
  • Panera Bread
  • Subway

This research report assesses how mobile shopping amplifies the customer experience. The report is 16 pages long and has 6 exhibits.

Lifestyle commerce is a prime mover of the customer experience journey that includes using mobile apps and payments as a key channel for retail shopping. It’s not only that e-commerce has grown, but more significantly, that mobile technology plays a larger role in the checkout process both for remote and proximity payments. Mobile use for pre-buy research and payments is a greater part of retail sales than much of the conventional wisdom now believes. This research report focuses on how retailers can leverage consumer mobile usage.

“Mobile is increasingly the go-to choice for shopping, ordering, and paying for many consumers. Mobile devices enhance the customer experience and provide merchants more opportunities to connect with consumers whether in-store or online.” commented the report's analyst.

Highlights of this research report include:

  • Sizing of the U.S. mobile payments market
  • Mobile device use across a wide variety of shopping activities
  • Consumer behavior patterns in mobile payments
  • Demographics of consumers using mobile phones
  • Leveraging of mobile solutions for retail sales growth

Companies and other organizations mentioned in this report: Ahold Delhaize, Albertsons, Amazon, Best Buy, Burger King, Caviar, Chick-fil-A, Chipotle, Domino’s, DoorDash, Dunkin’, FreshDirect, FutureProof Retail, Grubhub, Kroger, Mercatus, National Retail Federation, Panera Bread, Postmates, Shipt, Starbucks, Subway, Taco Bell, Target, Uber Eats, Walmart, Wegmans, and Whole Foods.

Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Ahold Delhaize
  • Burger King
  • Domino’s
  • FutureProof Retail
  • Panera Bread
  • Subway
  1. Executive Summary
  2. Introduction
  3. Mobile Channel Preference for Lifestyle Commerce Facilitates Increase in Mobile Usage
  4. U.S. Mobile Commerce Contribution to Retail Sales Trending Higher
  5. Mobile’s Convenience and Immediacy Ring True for Consumers
  6. Consumers Gravitate to Mobile Commerce
  7. Shoppers Use Mobile Devices for a Variety of Activities
  8. Younger Demographics Will Play a Larger Purchasing Role in Mobile
  9. Merchants Leverage Mobile Solutions for Sales Growth
  10. Conclusions and Key Takeaways

List of Tables and Figures
Table 1: U.S. mobile payments grow share of total retail sales
Figure 1: Mobile online shopping has doubled since 2018
Figure 2: Mobile phones have many shopping-related uses in stores
Figure 3: Mobile purchases skew towards younger consumers
Figure 4: Mobile order and pay nearly doubled for QSRs from 2018-2020
Figure 5: Gamification of mobile apps leads to expanded customer engagement and revenue optimization

Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Ahold Delhaize
  • Burger King
  • Domino’s
  • FutureProof Retail
  • Panera Bread
  • Subway

They’re here, there, and everywhere - by our sides day and night. Almost nothing happens without interaction with them. They’ve become more powerful, engaging, and expansive in features and functions. It is probably no surprise to many that we are talking about mobile phones. These devices are not new, but adoption is now ubiquitous. Current bandwidth technology makes mobile the channel of choice for many consumers.

The age of “lifestyle commerce” is upon us and represents a key driver of mobile shopping and payments. The analyst defines lifestyle commerce as the channel preference shift from consumer shopping and buying in person to online and on their smartphones. With lifestyle commerce, on-the-go consumers have the power, through the ubiquity of digital commerce, to decide when, where, and how to shop and pay. Mobile phones are a 24/7 companion for most people, which means that merchants must address customer preferences to buy online anytime seamlessly.

While most merchants and payments vendors have pivoted to mobile as a key sales channel, the power of mobile commerce and payments is arguably underestimated by retailers and payments providers alike. Data from the analyst's 'Worldwide Payments Model' and related 'Primary Payments Insights' surveys reveal that mobile use and payments are playing a larger role in retail sales than many think. The analyst's data shows that mobile commerce now comprises about 12% of total U.S. retail sales, representing a highly addressable market opportunity for merchants, payments vendors, and tech developers.

In this report, the analyst provides their latest data on mobile and consumer shopping behavior, plus market forecasts for mobile payments that demonstrate the continued importance of mobile technology and investments for payment systems stakeholders.

Note: Product cover images may vary from those shown
  • Ahold Delhaize
  • Albertsons
  • Amazon
  • Best Buy
  • Burger King
  • Caviar
  • Chick-fil-A
  • Chipotle
  • Domino’s
  • DoorDash
  • Dunkin’
  • FreshDirect
  • FutureProof Retail
  • Grubhub
  • Kroger
  • Mercatus
  • National Retail Federation
  • Panera Bread
  • Postmates
  • Shipt
  • Starbucks
  • Subway
  • Taco Bell
  • Target
  • Uber Eats
  • Walmart
  • Wegmans
  • Whole Foods
Note: Product cover images may vary from those shown
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