Payments 'deciding factor' for Britons in overall shopping experience, report

By

Nigel TAYLOR

Published
Sep 22, 2023

What’s the most important thing for UK consumers shopping online? Finding retailers that accept their preferred method of paying (53%), it seems, because it leads “to a great shopping experience”. That’s according to research by global software payments firm Planet.

It’s the conclusion of a shopper sentiment poll of over 7,500 consumers across 19 nations, comparing UK consumer preferences to those across Europe and other countries, most notably China and the US.

In fact the findings show consumers rate payment acceptance methods as more important than a simple exchange and return (47%) process and having the visibility of shop stock on the website (32%).

As the poll is international, it also shows that a key driver for shopping abroad is the availability of new and different products (ie the 'made in...' experience) is important for 50% of them. This is followed by lower prices abroad (46%) and the ability to save money with tax-free shopping (41%).

Payments are also the main factor for Britons shopping in-store too with over half saying that it’s very important that their payment method of choice is accepted. This comes ahead of features such as the ability for staff to check stock availability in real time (37%) and home delivery where the item is not available in-store (34%). 

When it comes to making a payment, UK shoppers remain tied to plastic, with 74% saying that credit and debit cards are their preferred payment method for online shopping.

But the data also provides further evidence that digital wallets are becoming increasingly popular among UK consumers, with 29% of respondents saying they prefer to use Apple Pay and Google Pay to make a payment. 

For in-store payments, international tourists prefer a variation in payment preferences. While Saudis, Emiratis and Americans all favour cards (71%, 77% and 75%), the leading payment method for Chinese shoppers in-store is Alipay and WeChat Pay (84% and 85%). American shoppers also strongly favour Paypal (61%), and Google Pay and Apple Pay (44%) for in-store payments, showing that despite the dominance of cards domestically in the US, digital wallets are increasingly popular when shopping abroad.   

According to Planet, with tourists typically spending over four times more per transaction than domestic shoppers, it’s important to “create great shopping experiences and maximise revenue from international customers”.
 
Commenting on the findings, Luca Cassina, President of Retail at Planet said: “Nobody actually ‘enjoys’ making a payment, so the job of the retailer is to make it as easy and painless as possible to pay. 
 
“What’s more, British retailers can stand to leverage their payments data to better understand their customers and drive loyalty. Our ambition is to take the unified commerce approach one step further with a connected commerce platform that empowers retailers to deliver shoppers more choice, convenience and customisation, and to ultimately create a more enjoyable shopping experience.”