COVID-19 has forced us to change the way we pay for things. There’s been a big push on contactless and many people have swapped to shop online as opposed to in-store. Blackhawk Network has looked at how Covid-19 has changed our payment habits, revealing:
- Nearly half of shoppers have replaced shopping in retail stores with online purchases, with older shoppers (over 55’s) being the biggest converts
- Overall, online purchases are up 45% on the previous year, with over half (51%) of the over 55’s making more online purchases than ever before
- 32% of online shoppers use a digital or physical gift card at least once a week
- 16% of online shoppers use PayPal once a week
- 7% of online shoppers still use a cheque weekly
- 39% of people describe themselves as a ‘deal seeker and bargain hunter’, with 31% of online shoppers wanting a discount on a product more than any other special offer
- Almost a quarter of shoppers (22%) have received a digital gift card that can be used in multiple retailers or brands, but 35% are interested in receiving one
- 44% of shoppers want to buy gift cards to support businesses
Matt Howe, Managing Director of EMEA, at Blackhawk Network, said: “The payment solution space was fast evolving long before COVID-19, but the encouragement from stores to use contactless methods, along with a spike in online shopping, has accelerated the adoption of previously emerging payment methods. It’s clear that COVID-19 is going to have a huge impact on the way people shop and that in turn is going to permanently influence the payments sector. The brands that get ahead are going to be the ones that are adapting quickly.”
Find the full report here.
Blackhawk Network delivers branded payment solutions through the prepaid products, technologies and network that connect brands and people. We collaborate with our partners to innovate, translating market trends in branded payments to increase reach, loyalty and revenue. Serving 26 countries, we reliably execute security-minded solutions worldwide.
Blackhawk is headquartered in Pleasanton, California. For more information, please visit blackhawknetwork.com.