How Much Cash Is In Your Wallet? Probably Less Than $20

A report from Visa also finds showrooming is less of a problem as more Americans make purchases online without visiting a physical store.

Visa released a report Thursday that reveals America's online shopping habits. Though the survey focused on e-commerce and mobile shopping, some of the more interesting facts center on cash: 40% of Americans, on average, carry less than $20 in their wallets. Even though women are prone to giant-purse syndrome, 30% of them have less than $10 in cash (compared with 16% of men) while 21% of men carry more than $100 (compared with 5% of women).

The study also finds that showrooming is becoming less of a problem, with only 12% of respondents saying they visited a retail store once a month to check out a product in person with no intention to buy. In contrast, 53% reported never visiting a physical store before making a purchase online.

Here are some other interesting nuggets from the report:

  • The West Coast is considered more tech savvy when it comes to mobile shopping: About 60% of people on the West Coast own smartphones, compared with 46% in the Northeast and Midwest. Of respondents on the West Coast, 37% said they have made purchases using their smartphones compared with 21% in the Midwest and 25% in the South.
  • Overall, 27% of smartphone owners and 24% of tablet owners have shopped using their mobile devices in the last year.
  • The survey found 15% of respondents said they have scanned a QR code to make a purchase in the last year.
  • About 20% to 30% of respondents said they would use their smartphones to pay for public transportation, parking meters, tips, and gas station purchases if they could.

[Image: Flickr user Timothy Boyd]

Add New Comment

0 Comments