Walmart shoppers more likely to pick Apple Pay over Walmart Pay, claims study
Walmart shoppers who use Apple Pay, and have a mobile payment preference, are twice as likely to choose Apple Pay over Walmart Pay, according to research from Auriemma Consulting Group's Mobile Pay Tracker.
Auriemma noted in a press release that discount and shopping-focused app features could give Walmart and other merchants a competitive edge over Apple Pay. The study examined Walmart, Target, and Kohl's shoppers' use of merchant apps and mobile payments.
The study also revealed how merchants can migrate more customers to proprietary mobile payment options embedded in commerce apps — and that there is a compelling reason to do so. Walmart Pay shoppers spent an average of $319 in the past month with the merchant compared to $291 for Apple Pay users, both representing a significantly higher spend than shoppers who have never used the Walmart app.
Auriemma suggested three ways merchants can leverage app features to increase engagement and differentiate their mobile payment offering from Apple Pay:
- Emphasize features that offer savings or promotions.
- Focus on features that elevate the shopping experience for customers.
- Create a sticky shopping experience that smoothly transitions to checkout.
“The desire for a universally accepted wallet poses a threat to single-merchant wallets,” said Jaclyn Holmes, director of Auriemma's Payment Insights practice, in the release. "Finding opportunities to drive value, customize the shopping experience, and positively influence each aspect of the customer journey — from discovering new items and deals, to reserving items, to applying coupons and building loyalty through rewards — is a key differentiator."
Topics: Mobile Payments