Nearly 100 million consumers apparently have their credit or debit card information stored on a website or mobile app for future purchases. It is estimated more than 14 million always save their information. The Silent Generation is the most inclined to do so, and is more than twice as likely to consistently store this data online.
According to new survey by Princeton Survey Research Associates when it comes time to check out, Gen Xers and Baby Boomers are the most guarded with their payment information; 2 in 5 indicate they never save their credit or debit card information for future purchases.
Online shopping, in general, is more popular amongst younger generations and higher earners. While 62% of consumers report making online purchases, just 26% of the Silent Generation shops online, compared to 76% of Millennials. Families earning $75,000 or more per year are almost twice as likely to shop online as those making less than $30,000.
Consumers turn to the internet more often to purchase personal electronics than clothing, groceries and furniture. Thirty-three percent of online shoppers always or mostly make electronics purchases online, compared to 22% for clothing, shoes and accessories, 6% for furniture and 4% for groceries.