A new report being published by Transaction Network Services (TNS) suggests that the majority of consumers are open to new experiences when they pay-at-the-pump which could provide significant revenue opportunities for retailers.
The report, The Market Opportunity for Secure Commerce at the Pump, explores the findings of a survey* TNS commissioned among US, UK and Australian adults. It asked consumers about their current usage of pay-at-the-pump facilities and their willingness to engage with new technologies and services at the fuel dispenser, which could see them order food items or watch advertisements to gain discounts, for example.
Key findings include:
- Globally 61% of respondents said they prefer to pay-at-the-pump instead of paying the cashier.
- 73% of 25-to-34 year-olds are interested in buying other items at the pump.
- 73% of respondents globally would be interested in being given a discount on their fuel price if they watch an advertisement at the pump.
- In the US, 67% of men between 25-to-44 years old would like to order and pay for prepared food at the pump.
- 62% of Australians between 25-to-34 years old would like to receive prepared food like pizza, burgers and coffee delivered to their vehicle while they are filling it up.
- UK respondents were the most keen (76%) to make instore purchases which gave them instant discounts on fuel.
The full report is available to download from the TNS website.
“In a world where technology and convenience have turned customer demand into customer expectation, our survey uncovered evidence that suggests consumers are looking to securely engage in more commerce opportunities at the pump,” says TNS’ Chief Executive Officer, Mike Keegan. “We appear to be at the crossroads of a new shift in consumer behaviour, and forward-looking merchants that adopt and implement new technologies and provide broader services will benefit the most.”
“Pay-at-the-pump facilities are rolling out across the UK and Australia at an increasing pace,” added Bill Versen, TNS’ Chief Product Officer. “Combine this with the significant EMV terminal upgrade in the US and we find ourselves looking at a buoyant market filled with potential. As a result, we expect to see many exciting new technologies brought to market and we look forward to collaborating with these new players to ensure that the payments elements of commerce at the pump remain secure.”
[*] Kantar commissioned a survey on behalf of Transaction Network Services. The survey interviewed 1,029 US adults, 1,045 UK adults and 1,052 Australian adults, and was conducted by online self-completion interviews between 5-9September 2019 by Kantar. The survey is designed to be nationally representative of adults interviewed per country. The survey uses a quota sample based on age interlocked within gender and a regional quota. Post fieldwork correctional weighting within age, gender and region has been used to ensure the representativeness of the survey.