Despite the fact we are coming back to normal and in-person stores are opening, the majority of British consumers plan to continue to do all their Christmas shopping online
Worldpay from FIS has found that 68% of Gen Z shoppers remain most attracted to the convenience of shopping online and via mobile, while 48% of Boomers are more likely to return to shopping in-store.
With consumers now used to the convenience of online shopping, retailers are responding by offering a variety of payment methods at checkout.
The survey reveals 70% of Millennials cited this as a key preference when shopping in comparison to 46% of Boomers.
In fact, 28% of those surveyed stated that they are planning to use BNPL to make their festive purchases this year, with this rising to 43% of millennials. Shopping via social media is also becoming more popular with over a quarter preferring to do their Christmas shop via social media.
In addition, the research shows alternative payment methods could help to reduce returns.
Interestingly, almost 1 in 4 of every purchase during the festive season in the UK is returned – a number which rises to nearly 40 percent for millennials. But returns have dropped by almost 15% when bought through BNPL, with responding Gen Z and millennials saying they return 1 in every 5 purchases bought through BNPL.
We’ve reported that eBay teamed up with InPost in the UK.