Mastercard has revealed that the Covid-19 pandemic has fast-tracked consumer’s transition consumers to digital transaction across the Asia Pacific (APAC).
The study revealed that everything from grocery shopping to buying movie tickets at home or in-store, consumers increasingly shift towards online purchases.
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This shift, according to the payments giant, is set to become a permanent habit post the pandemic.
The study surveyed 6,750 adults between 27 April and 17 May, across Australia, Brazil, China, Colombia, France, Germany, India, Italy, Spain, Japan, Mexico, Russia, UAE, UK and the US.
Key findings
30% of people in Australia, 49% in India, 55% in China and 34% in Japan said they would more purchases online while shopping at e-commerce platforms.
At the same time, 38% of consumers in Australia, 68% in India, 57% in China and 40% in Japan think there will be less in-store shopping going forward.
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By GlobalData46% of consumers in the entire APAC region plan to use cash less, including 52% in Australia, 49% in India, 43% in China and 41% in Japan.
71% in Australia, 77% in India, 73% in China and 62% in Japan believe that the shift to contactless payments is permanent.
Globally, 60% of consumers said that the shift to digital payments could be permanent, while nearly half of them plan to reduce cash usage after Covid-19 ends.
Mastercard APAC EVP of products & innovation Sandeep Malhotra said: “Our shift to digital commerce is here to stay as people embrace the benefits of safety, security and convenience.
“Consumers now want on-demand products and services – whether it’s food delivery, groceries, fitness courses, telemedicine, conferencing, learning or entertainment.
“This demand and these expectations will continue to drive e-commerce long after Covid-19 subsides.”
Other notable findings
According to Mastercard’s study in April, 79% of people worldwide and 91% in APAC were using tap-and-go payments, citing safety and cleanliness amid the Covid-19 pandemic.
At the same time, 74% of consumers globally and 75% in APAC said they will continue to use contactless payment options even after the pandemic ends.
