Eight years ago, Starbucks developed its own app for mobile payments. Today, it’s still held up as the gold standard in the United States.
In Asia’s rapidly developing market, where mobile payment is eight to nine years ahead of the West, things are quite different.
In China, you can mobile pay for everything from a cab to a mojito or utility bill. In 2015, WeChat registered more financial transactions in one day than PayPal did during the entire 12 months.
But it’s not just China that’s adopting the trend. Mobile payment is also making massive inroads in Southeast Asia as shopping apps are gaining popularity. In Singapore alone, there are 30,000 retail points accepting contactless payment methods such as Apple Pay, Android and Samsung Pay.
In Indonesia, the most populous country in the region with 250 million people, most of the big traditional retailers are unveiling e-commerce plans of their own. In a recent GfK study: The Connected Asian Consumer, consumers in Singapore and Indonesia also reported fairly high usage incidence of shopping apps (37 and 35 percent respectively). This growth is fuelled by affordable smartphones, a massive young and tech-savvy population and efforts by governments and telco operators to expand and improve high-speed wireless networks.
The future has never been clearer. It’s only a matter of time before mobile payment goes mainstream.
The Connected Consumer
Unfortunately for traditional retailers, the age of e-commerce has also produced a new consumer – we like to call them the ‘Connected Consumer’ – and their behaviors are shaping the future of retail.
In the GfK 2016 FutureBuy survey of 20,000 consumers in 20 markets, it was found that shoppers are becoming less loyal to any one retailer. Almost half (46%) of all consumers (14-65 year olds) stated they were less loyal when shopping. This figure rises among the youngest consumers to

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