Young people prefer to pay digitally
Eight out of 10 young consumers choose digital payments when making purchases, regardless of whether they shop online or at brick-and-mortar stores.
The familiarity of young people with these payment methods, perhaps in contrast to older consumers, the fact that it is now mandatory for all merchants and services to provide digital payment methods, but in some cases the fear of carrying cash, explain this massive shift to digital payments. At the same time, data show that cash on delivery remains alive in Greece, even when purchases are made by consumers aged 17-30.
The above findings are included, among others, in a survey conducted by Visa in collaboration with the Institute of Commerce and Services of the Hellenic Confederation of Commerce and Entrepreneurship (INEMY ESEE), on the consumer behavior and payment trends followed by Gen Z. The survey was conducted on a nationwide sample of 600 people, aged 17-30. Contrary to what one might expect, young consumers do not shop almost exclusively online, with the percentage of those who choose physical and online stores being equally divided. Therefore, 22% prefer online shopping, another 22% prefer physical stores, while the remaining 56% shop both online and physical stores.
Still, in contrast to the general population, a notable percentage of young consumers do their grocery shopping online. According to the survey, 9% shop from online supermarkets once or more times a week and 13% once or twice a month. Of course, the largest percentage concerns food delivery, with 37% of the survey participants stating that they order online once a week or more frequently.
When shopping at physical stores, young people prefer to use a card and a digital wallet for payments, mainly at the supermarket (81%), while the use of cash is greater (37%) when buying food.
The trend is similar when they make online purchases in terms of the use of a card and a digital wallet. Yet although one would expect that cash on delivery as a means of payment in online shopping has been significantly reduced, this is not confirmed by the survey.
Kathimerini
