Report

High-value consumers’ payment preferences unpacked

There has been a global culture shift, from working patterns to attitudes towards the way we want to spend free time. In the retail sector, change is everywhere: the way in which consumers are shopping online; what they are purchasing; the methods they are choosing to pay with; and even the expectations they have of their favourite brands.

“It would be an understatement to say that the pandemic has changed the priorities of the modern luxury consumer.”
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“19% of high-value households have abandoned a basket in the last week alone”

“31% of respondents found the process of requesting a refund time consuming and frustrating”

“77% of respondents in higher income households would be more likely to shop with a luxury brand if they offered instant refunds.”