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Digital Wallets: Sizing the Opportunity

  • May 2013
  • -
  • GlobalData
  • -
  • 26 pages

Summary
Mobile technology is rapidly changing how consumers behave, with an impact on both digital and physical retailing. This briefing and accompanying dashboard provide detailed insight into consumer attitudes to the digital wallets they use now, and where the wider trends in digital commerce highlight future growth opportunities.


Synopsis
- Optimize your product development and marketing strategies by using our unique data to better understand consumer attitudes to digital wallets.
- Target the right products at the right opportunities by seeing exactly which consumers have the biggest appetite for mobile wallets.
- Plan your long-term payments strategy based on a deep understanding of how mobile internet use is changing physical and digital retailing.

Reasons To Buy
- What is the consumer experience with the digital wallets on the market today?
- How big a barrier to take-up and use are concerns about security?
- Just how much do consumers actually pay for digital content, and how do they make these payments?
- Where is the biggest consumer appetite for mobile wallet services?

Key Highlights
Just over 24% of smartphone holders globally have at least one mobile wallet of some kind. Of this figure 14% of consumers stated that they have one and use it, compared to 10% who have one but do not use it. More favorably, over one third of consumers do not have a mobile wallet but would be interested in getting one.

A high proportion of consumers are regularly buying digital content. Around 42% of smartphone holders buy games or other apps once a month, and a similar proportion have at some point paid to download music online. A surprisingly high but nonetheless lower proportion of consumers - 29.7% - say that they have made a purchase in-app at some point.

Card vaulting accounts for 37.9% of apps and game purchases, 38.1% of online music transactions, and 53.2% of in-app currency transactions. The largest distributors of apps and online music tend to be dominated by the likes of Apple and Google, which primarily rely on their own wallet platforms.

Table Of Contents

Digital Wallets: Sizing the Opportunity

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