Restaurant Delivery Among Fastest Growing Purchase Category Made Worldwide: Study
Nearly three quarters (74%) of online purchases worldwide are for digital goods and services, according to the study, “The Global Rise of Digital Goods and Services.”
On-demand services, including ridesharing, restaurant delivery, business services and home-sharing, are the fastest growing purchase category among all age groups.
The study, cpmmissioned by Fiserv, Inc., a provider of payments and financial services technology solutions, evaluated the digital goods and services market and how purchase rates differ by region and demographic group, querying more than 6,000 consumers across 15 countries and four different age groups – Linksters (18-23), Socializers (24-34), MTV Generation (34-54) and Maturists (55+). Within the study, digital goods and services are defined as on-demand services, digital subscriptions, digital media, computer software and mobile apps.
On-demand services, including ridesharing, restaurant delivery, business services and home-sharing, are the fastest growing purchase category among all age groups. The average consumer made 31 on-demand services purchases in the last 12 months, and 71% of consumers who made on-demand service purchases this year spent the same or more on on-demand services compared to the previous year.
The study also found that 57% of consumers will stop shopping at an online merchant or cancel a digital service entirely after a negative purchasing experience.
Restaurant delivery is the second most popular on-demand service, and despite the growing convergence with ridesharing services, the regional and demographic trends do not mirror those of ridesharing. Brazil led all countries in the average number of times consumers utilized restaurant delivery services (10.2) over the last 12 months, while Malaysia ranked sixth (8.26) and North America came in tenth (4.73). The MTV Generation used restaurant delivery more frequently than ridesharing in the previous year, and the inverse is true for Linksters.
Ridesharing is the most commonly purchased on-demand service, although with a high degree of variation by country.
Other Facts: At a Glance
- Socializers are number one when it comes to purchasing digital goods, with 57% having made a purchase in the previous year, followed by Linksters at 49%. Socializers are key purchasers of home-sharing and travel rental services, business services, and all things gaming-related.
- Common payment methods for Linksters include debit cards (46%) and online/mobile pay (45%); Linksters are also the demographic most likely to use cash. Socializers’ common payment methods include: online/mobile pay (58%), debit cards (53%) and credit cards (46%).
- MTV Generation is the fastest growing demographic in India, Mexico and Argentina. The fastest growing purchase category among the MTV Generation is on-demand, and the most purchased non-physical goods include online gaming, online news and magazine subscriptions, meal or grocery delivery services, paid podcast subscriptions and music or video streaming subscriptions.
- Maturists might be the least frequent purchasers of digital goods overall, but they are the most frequent purchasers in rural and urban areas, especially in India (39%) and Poland (41%). They care the most about the safety and security of payments, with 77% saying it was important or very important. Despite these security concerns Maturists are the most likely to store their payment information online.
In May 2019, First Data, now Fiserv, commissioned Forrester Consulting to evaluate the nonphysical/digital goods and services market and how purchase rates differ by region and demographic. Forrester conducted an online survey of 6,115 online adults ages 18+ to explore this topic. In this study, Forrester looked at online segments from 12 countries/ regions: Australia, Argentina, Brazil, India, Mexico, Malaysia, North America (US and Canada), the Philippines, Scandinavia (Denmark, Norway, and Sweden), and the United Kingdom. The organization also examined four different age groups: Linksters (ages 18 to 23), Socializers (ages 24 to 37), the MTV Generation (ages 38 to 53), and Maturists (ages 54+).