New research commissioned by mobile consultancy, Veoo and its US partner Vibes, highlights that there is a big opportunity for Mobile Wallets (m-wallets) here in the UK..
The survey shows that the value proposition for mobile wallets is definitely understood and could accelerate as there is still a big appetite for physical loyalty cards and reward programmes. This research was commissioned in the UK and US and show comparisons between the two markets, over 2000 adult loyalty card holders were surveyed.
The research found that one in four respondents in the UK are already using mobile wallet solutions to store offers/coupons, airline boarding passes, loyalty cards and tickets.
Additionally 95% of respondents have anywhere between 1 to 10 physical loyalty and reward cards and 90% of them use these cards on a monthly basis.
However, retailers be aware, nearly half of those surveyed (43%) would stop signing up for new loyalty cards if they could not fit them into their physical wallet.
Survey results are illuminating and show what the future holds for mobile wallet adoption. It shows how awareness, perceptions, and adoption of mobile wallet solutions has grown. In particular the research looks at consumer expectations around plastic loyalty cards, influencing factors, and explored the question of whether consumers really want more cards in their physical wallets.
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