Many Americans have begun to use their smartphones as more than just phones. Companies like Starbucks have developed apps that allow customers to pay for their order from the convenience of their mobile phone. And other apps even serve as general payment systems that customers can use at a variety of businesses. How many smartphone users have downloaded these apps? And how are these new payment methods affecting more traditional payment methods?
In Ask Your Target Market’s latest survey, 47% of consumers said they currently own smartphones. 8% said that they definitely plan to buy a smartphone in the near future. 16% said they will probably buy a smartphone at some point. 17% said they have no plans to buy a smartphone. And 13% said they will definitely never buy a smartphone. 59% of respondents under 35 said they currently own smartphones. 63% of respondents with an income of at least $75,000 own smartphones.
42% of smartphone owners said they use apps that allow them to make purchases specifically from their favorite businesses, such as the Starbucks app. However, just 19% of smartphone users said they use general payment apps such as Bitcoin. Many, however, use both types of apps. Of those who use apps similar to the Starbucks app, 35% also use general payment apps like Bitcoin.
Although many have not begun to use payment apps yet, some consumers may have already stopped using some traditional payment methods. 70% of survey takers said they regularly use cash as a method of payment. 61% regularly use debit cards. 44% regularly use credit cards. 43% regularly pay for things online. 24% use checks. And 7% use apps or mobile payments regularly.
You can view the complete survey results in the widget below and be sure to click “Open Full Report” to take advantage of all the chart and filter options.
What do you want to know? If you need some consumer insights on a particular topic, let us know in the comments below and we’ll consider it for an upcoming survey post.
Results were collected on July 11 via AYTM’s online survey panel.