Fast Facts | ShopTalk | Geolocation
More Millennials have experienced geolocation-based offers and discounts compared to other generations.
Vantiv and Socratic Technologies conducted an online survey with 500 consumers about their experience with geolocation and seamless rewards.
Summary of findings
- Using a mobile phone to save money while shopping is becoming widely used. 47% of consumers use a phone to redeem coupons or get discounts while shopping in-store while 46% use their phone while in-store to compare prices
- While 40% of consumers have bought online and picked up an item in-store, an additional 39% indicated they would likely do this activity in the future
- 50% of consumers believe that retailers using geolocation to offer promotions is OK as long as they can opt in/out. 25% however believe that this would never be acceptable to them
- Geolocation-based offers from grocers (50%), national restaurants (47%) and national retailers (46%) garner the highest level of interest from consumers
- 31% of consumers have experienced seamless rewards automatically applied to their purchase based on their account information
Millennials are more likely to use geolocation offers
72% of Millennials are OK with retailers' geolocation-based offers and 40% of them have used these offers and discounts compared to 26% of Gen Xers and 6% of Boomers. Millennials are significantly more interested compared to other generations in geolocation-based offers featuring events such as concerts and festivals.
Nearly half of millennials have experienced seamless rewards
Only one-third of Gen Xers and less than one-quarter of Boomers have had experience with seamless rewards.
Online to in-store behaviors will grow
While a minority of consumers buy online and then either pick up or return to a store, these activities are expected to grow to the majority. Nearly 40% of consumers indicated they are likely to adopt this behavior if available from more retailers.