According to Response Source, a recent survey has shown that the largest demographic of online shoppers are 18–24-year-olds with more than half preferring to use the internet to make purchases rather than visiting shops. In addition to this, a third of online shoppers would prefer to be able to pay with cash when making purchases from websites. 52% of respondents were in the 18–24-year-old age group – again the largest group to state a preference for cash.
A study researcher added, “It’s clear from our researcher that a significant number of online shoppers would prefer to be able to use a traditional cash payment, and this is particularly evident in the younger consumer groups who possibly don’t have access to credit or debit cards.”
The findings are something of a surprise to SmartDebit, the UK Direct Debit service provider. Over recent years the company has experienced high levels of interest for Direct Debit transactions from small to corporate-sized businesses. The company has been facilitating electronic payments since since 1998 and as a representative explained, “Recent reports have always suggested that we are moving towards electronic and automated payments, yet this suggests that the younger generation who are often regarded as tech savvy – are most reluctant. This does come as a surprise, however if you study the findings in more detail, these are the demographic group that are least likely to have credit cards which are the most commonly used payment online.”
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