Over 2 in 3 shoppers seek cross-channel store options
Physical stores are still highly preferred with the majority going cashless.
More than two-thirds of Singaporeans expect a unified commerce experience when shopping, with physical stores still high in demand, according to a Wirecard report.
Cross-channel purchasing options like buying online and picking up in-store (BOPIS) is gaining traction in the Lion City, with 77% saying they would not buy from a brand or merchant that doesn’t offer this option. Mobile app usage is on the rise (53%), with nine out of 10 researching products before buying in-store afterwards (95%) or vice versa (94%).
Singaporeans prefer to use store websites through mobile phones (82%) or do research in-store versus other methods like mobile apps, in-store screens or a VR booth.
Physical stores remain the top option for Singaporeans where almost everyone (96%) shop using cashless payment methods. More than three-fifths (64%) use credit/debit swipe cards, followed by contactless cards (59%) and mobile wallets (42%). Almost half (45%) are less likely to go to a brick-and-mortar store if it doesn’t support cashless payment.
Three-quarters (78%) said they are willing to give retailers personal information either online or in-store, in exchange for incentives such as larger discounts. Most (92%) use loyalty programs, with almost two-thirds (62%) using their phones to gather points, whilst 70% are interested in using biometrics for shopping.
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