Mobile Wallet Users Spend More Per Month at Retailers

Accepting mobile wallets can boost the bottom line for retailers, a new analysis from Auriemma Consulting Group has found.

In an analysis of spending trends at Walmart, Target and Kohl’s, Auriemma Consulting Group’s Mobile Pay Tracker found that shoppers with two mobile wallets – Walmart Pay and Apple Pay – spent significantly more per month than shoppers who have never used the Walmart Pay app.

On average, Walmart Pay users spent an average of $319 with the merchant, compared to $291 for Apple Pay users, the analysis found. According to a press release from the research group, both sums represented significant gains over shoppers without the retailer’s mobile payment app.

The tracker also found that Walmart shoppers who can use Apple Pay and have a mobile payment preference are twice as likely to choose Apple Pay over Walmart Pay, signaling the possible popularity of the ‘Pays’ over mobile wallets from retailers.

The analysis, which surveyed 921 American adults who made a purchase from Walmart, Target or Kohl’s within the past six months, found who do not have the Walmart Pay app would be most interested in using the app to find coupons, view sales and exclusive offers, rewards and other money-saving incentives.

“Satisfaction with a merchant’s app is an indicator of wider mobile payment adoption,” says Jaclyn Holmes, Director of Auriemma’s Payment Insights practice, said in the release. “A seamless merchant app/payment experience that leverages the features shoppers love, such as coupons or rewards, could be the tipping point needed to get them excited about downloading and using a merchant’s app and payment functionality over the competition.”