The use of mobile wallet by the brands as well as consumers will rise in 2019 due to its ability to create personalised experiences. In the retail environment, delivering the right messages on the right platform plays a vital role in improving a customer’s overall shopping experience. Vibes, a mobile marketing leader, predicts that, in 2019, consumers across all industries will demand that messages are tailored directly to their own needs.
“In recent years, we’ve seen mobile wallet as an entry point for brands to connect with mobile consumers, beyond the app. Mobile wallet via Google Pay and Apple Wallet allows you to do more than ever, and 2019 will be the year we see greater adoption by both brands and consumers,” says Jack Philbin, co-founder and CEO of Vibes. “Adoption of mobile wallet among our customers increases dramatically each year. In fact, looking back four years, on average, Vibes has seen mobile wallet installs increase 10 times from the previous year, or an average of 976 per cent year-over-year growth. Given this increase, we expect this to translate to the industry at large.”
According to Forrester, mobile wallet marketing is expected to double between 2018 and 2020. Consumers will opt to save their loyalty cards on mobile wallets as it offers convenience, drives loyalty and reduces costs for companies. They are a lightweight option for direct-to-consumer (D2C) marketers who want to reach audiences at scale.
Mobile wallets offer a call-to-action that is simple to track, redeem and drive engagement. Vibes data shows that in the first 15 weeks of implementing a mobile wallet and email campaign, the opt-in confirmation rate is greater than 85 per cent.
“Our annual U.S Mobile Consumer Report showed that nearly all consumers would use mobile wallets if the content is personalised,” Philbin said. “This demonstrates the massive opportunity for brands to engage with target audiences and customers, and ultimately drive loyalty and more conversions.”