A new GoDaddy study shows that 54% of Gen Z and 41% of Millennials have skipped completing a purchase due to a business not accepting digital wallets, such as Apple Pay or Google Pay.
This compared to Gen X or Boomers (17%). One-in-10 (10%) of Gen Z only use their phone to pay for items when shopping in-person, with 5% of Gen Z reporting they don’t even carry a physical wallet anymore. In contrast, more than one-in-four (27%) Gen X and Boomers have never used digital wallets.
“Gen Z and Millennials want to shop online from their phones and be left alone, which makes providing an automated, personalized, yet hands-off experience for consumers all the more vital,” says Alex Avramenko, head of commerce growth at GoDaddy. “Is your online store truly mobile-friendly? Is it easy to find options for digital wallet payments or in-store pickup? These aren’t just trends. Consumers have consistently shown their desire for simple, convenient ways to shop and pay will make or break a sale, and small businesses need to adopt this new vision of what doing business looks like.”
By the way, Generation Z (Gen Z) refers to individuals born between 1997 and 2012. Millennials, also known as Generation Y, are a demographic cohort typically defined as those born between 1981 and 1996.
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