A new term coined by Aite Group and ACI Worldwide, “Smartphonatics” are consumers who are aggressively changing the way they shop based on ownership of a smartphone. For clarification, not all smartphone owners are Smartphonatics. “Many use their smartphone to browse the web but don’t change – or give up – the channels and methods they previously used to shop…,” noted Aite Group in the study titled: The Global Rise of Smartphonatics: Driving Mobile Payment and Banking Adoption.
To examine the impact of Smartphonatics, Aite and ACI conducted a survey of 4,200 consumers in 14 countries across the Americas, EMEA and Asia Pacific. The resulting report analyzes the differences in Smartphonatic behavior globally, and the continued development of mobile payment and mobile banking.
Some key findings include:
- India has the greatest percentage of Smartphonatics (60%), while the U.S. lags behind (20%)
- The majority of Smartphonatics (36%) are Gen Yers (ages 20 to 31); Gen Xers (ages 32 to 46) comprise 32% of the group; In the U.S. the combined total is slightly higher: Gen Yers, 47% and Gen Xers, 30%
- Globally, 70% of Smartphonatics have used their smartphone to make a payment in the last 6 months; and 80% have used their device for banking
U.S. Smartphonatics Embrace Mobile Payment
Although the total percentage of Smartphonatics is lower in the U.S., adoption of mobile payment and mobile banking is higher than the global average: 81% have used their mobile phone to make a payment in the last 6 months and 84% have used their phone for banking.
The majority of Smartphonatics are using the phone’s web browser for payment, but 51% have accessed PayPal or another application. If they have not used their phone for mobile payments, it’s most likely because their phone isn’t set up properly (64%).
ACI Worldwide and Aite Group announced the study during a recent event in New York. During the event, Ron Shevlin, Senior Analyst for Aite and Ralph Dangelmaier, President, Global Markets and Services for ACI shared the results and discussed issues around mobile payment adoption.
To access a copy of the full report, click here.