Gen Z is abandoning carts if they can’t pay digitally. Research from PYMNTS and PayPal (so…not unbiased sources, but we still believe them) found that 28% of Gen Z have or would have abandoned an online cart in the last month if the site didn’t accept digital wallets—compared to 18% of Millennials and 10% of Xers. Of respondents who made their last purchase with a digital wallet, half of Gen Z would have abandoned the purchase if that wallet had not been offered, also higher than other groups. At this point, not integrating their preferred digital payments will lose a Gen Z customer even if they’ve found their way to your site and want to buy your products. YPulse data also shows that 31% of 18-24-year-olds use mobile wallets most often to pay for things in-person, versus 23% who use cash. (PYMNTS)
👀 Read more from YPulse: Is Using Cash Cringe to Gen Z?
