US Mobile Payments Market Report 2021 - Lifestyle Commerce Sets the Pace for Retail Sales Growth

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Jul 13, 2021, 11:00 ET

DUBLIN, July 13, 2021 /PRNewswire/ -- The "US Mobile Payments Market Report 2021 - Lifestyle Commerce Drives Expanding Mobile Sales Channel for Merchants" report has been added to ResearchAndMarkets.com's offering.

This research report assesses how mobile shopping amplifies the customer experience.

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.

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.

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

Key Topics Covered:

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

Companies Mentioned

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

For more information about this report visit https://www.researchandmarkets.com/r/t828ew

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

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SOURCE Research and Markets