Gen Z's preference to use smartwatches for payments in the United Kingdom was about twice as high as that of Millennials. This according to a survey held among consumers ages 18 to 75 - with "Gen Z" here being defined as the age group 18 to 24 years old. The source claims the use of smartwatches is "on the rise", and could threaten the future use of cash or credit cards. The market share of digital wallets in the UK nearly rivalled that of cash in 2021, although debit cards remained popular in POS payments.
Share of respondents in the United Kingdom who prefer to pay with a smartwatch over cash, card, mobile phone, or biometric payment method from 2nd quarter of 2022 to 2nd quarter of 2023
Physical means of payment consumers prefer to pay with if all payment methods were available
Supplementary notes
The source adds a total of 14,114 consumers were surveyed and this includes both Klarna users and users who did not use Klarna. It also adds that sample sizes were nationally representative.
The source does not specify the survey method used.
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Klarna. (September 14, 2023). Share of respondents in the United Kingdom who prefer to pay with a smartwatch over cash, card, mobile phone, or biometric payment method from 2nd quarter of 2022 to 2nd quarter of 2023 [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1333868/smartwatch-payment-preferences-uk/
Klarna. "Share of respondents in the United Kingdom who prefer to pay with a smartwatch over cash, card, mobile phone, or biometric payment method from 2nd quarter of 2022 to 2nd quarter of 2023." Chart. September 14, 2023. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1333868/smartwatch-payment-preferences-uk/
Klarna. (2023). Share of respondents in the United Kingdom who prefer to pay with a smartwatch over cash, card, mobile phone, or biometric payment method from 2nd quarter of 2022 to 2nd quarter of 2023. Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1333868/smartwatch-payment-preferences-uk/
Klarna. "Share of Respondents in The United Kingdom Who Prefer to Pay with a Smartwatch over Cash, Card, Mobile Phone, or Biometric Payment Method from 2nd Quarter of 2022 to 2nd Quarter of 2023." Statista, Statista Inc., 14 Sep 2023, https://www.statista.com/statistics/1333868/smartwatch-payment-preferences-uk/
Klarna, Share of respondents in the United Kingdom who prefer to pay with a smartwatch over cash, card, mobile phone, or biometric payment method from 2nd quarter of 2022 to 2nd quarter of 2023 Statista, https://www.statista.com/statistics/1333868/smartwatch-payment-preferences-uk/ (last visited December 21, 2024)
Share of respondents in the United Kingdom who prefer to pay with a smartwatch over cash, card, mobile phone, or biometric payment method from 2nd quarter of 2022 to 2nd quarter of 2023 [Graph], Klarna, September 14, 2023. [Online]. Available: https://www.statista.com/statistics/1333868/smartwatch-payment-preferences-uk/
