Venmo behavior study: Venmo customers want to use Venmo to shop on merchant’s sites.
A new Venmo behavior study explores valuable insights for small businesses to consider to reach a broader audience, including Venmo customers' financial habits, their purchasing behaviors, and their perceptions of Venmo as a payments tool.
A glimpse into the findings:
- Venmo skews younger and more affluent.
- 65% of Venmo customers have increased their online purchasing behavior while 65% reduced their in-store habits.
- Venmo customers express overwhelming interest to pay with Venmo at merchants if presented the option. 47% of customers are interested in paying with Venmo if offered.
- Venmo is the most preferred tipping method to Venmo customers after cash and cards when paying for a service.
- 89% of consumers prefer to pay with Venmo because they trust the brand, it's ease of use, and because it allows them to split transactions.
For a deeper dive into Venmo users purchasing habits, download the full study.
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