Customers Are Looking for New Ways to Pay

According to a MasterCard analysis of 1.6 million unprompted online conversations around shopping and retail, conducted in partnership with PRIME Research, we want convenience, reward and increased acceptance of new technologies when it comes to payment methods.

The global social listening study identified some of the key trends within the shopping and retail space, in order to provide retailers with stronger insights and understanding of their audience. Key findings from the study indicated retailers are experiencing a shift in consumer expectations, requiring new and richer experiences, which will enable consumers around the world to shop at the ‘speed of life’.

The MasterCard Retail Social Listening Study reports that more than one in two conversations in Australia (53%) around overall convenience were positive, along with approximately 44% of conversations around rewards.

Carlos Menendez, Executive Director for International Markets at MasterCard said;

“The wave of social engagement we see every time new payment innovations are rolled out truly reflects the demand and desire for new and more convenient ways to pay. It also shows that payments have really moved into the heart of the shopping experience – causing frustration when not accepted and engagement when fast, easy and personal.”

Interestingly, the Retail Social Listening Study uncovered, across 61 markets, more than 1.6 million social media posts from July 2014 to June 2015 on the subject of shopping and retail conversations, in the context of MasterCard and its industry peers. The social media channels included within the study were Twitter, Facebook, Instagram, Forums, Weibo (CN), Google+ and YouTube.

It is a good reminder that anything you post online is useful for someone, no matter what it is!

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