kathimerini.gr
Digital Payments Dominate Among Young Greek Consumers
A Visa-INEEMY ESE study shows that 80% of young Greek consumers (17-30) use digital payments, despite 20-28% still using cash on delivery for online purchases; in-store, card/digital wallets are favored (81% in supermarkets), while cash is more common for food purchases (37%).
- What is the dominant payment method among young Greek consumers (17-30 years old), and what factors contribute to this trend?
- Eight in ten young Greek consumers aged 17-30 use digital payments for both online and in-store purchases, driven by familiarity, mandatory digital payment options for merchants, and a preference to avoid carrying cash. A Visa and INEMY ESE study of 600 individuals reveals this trend.
- To what extent does the preference for digital payments vary between online and in-store purchases among young Greek consumers?
- This preference for digital payments among young Greeks reflects a broader shift towards cashless transactions globally. The study highlights the influence of digital technology and consumer behavior on payment methods, contrasting with older generations.
- What are the long-term implications of this trend for businesses in Greece, considering the persistence of cash on delivery for certain purchases?
- The continued use of cash on delivery, especially for food delivery (23%) and other online purchases, suggests that despite the rise of digital payments, traditional methods persist among young Greek consumers. This presents challenges and opportunities for businesses adapting to evolving consumer preferences.
Cognitive Concepts
Framing Bias
The framing is largely neutral. The article presents findings from a survey on consumer behavior without overtly pushing a specific narrative. While it highlights the popularity of digital payments among young people, it also acknowledges the persistence of cash on delivery. The headline (if there was one) would heavily influence the framing; without it, the current framing appears balanced.
Bias by Omission
The provided text focuses on the payment preferences of young consumers (17-30 years old) in Greece. While it details their digital payment habits and the continued use of cash on delivery, it omits information about the overall economic situation in Greece and how that might influence these trends. Additionally, the study's methodology (telephone interviews) is mentioned but not discussed in terms of its limitations, such as potential biases in the sample or response rates. The lack of comparative data with older age groups beyond a few general observations also restricts the depth of analysis.
Sustainable Development Goals
The increased use of digital payments can promote financial inclusion by providing access to financial services for young people who may not have traditional bank accounts. This can help reduce inequalities in access to financial resources.