Online Retailers That Don't Support Digital Wallets Are Losing Gen Z Customers
A study suggests younger people are more likely to walk away if their preferred payment option isn't supported.
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Gen Z, the generation widely considered to be digital natives, is particularly choosy when it comes to online purchasing, a new study has found. Online shoppers frequently browse sites, fill their carts and head to checkout — only to abandon the purchase if their preferred digital wallet is not available for check out, according to a recent study from global data and analytics platform PYMNTS Intelligence. And this phenomenon is particularly pronounced in the Gen Z demographic.
More than one-third (36 percent) of Gen Z shoppers abandoned a cart in the last 30 days because they couldn't pay the way they wanted, 1.7 times the overall average, followed closely by millennials at 31 percent. Collectively, 40 million consumers in those two age groups walked away from intended purchases in a single...
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