Report: Chat Commerce on the Way for Banks, Retailers

Report: Chat Commerce on the Way for Banks, Retailers

April 8, 2021

As retailers and banks look for new digital channels to grow sales, a new report finds 77 percent of consumers polled are open to making purchases via chat, according to a new report. In its Chat Commerce Trends Report, mobile communications company Clickatell found more than half of consumers already use chat apps including What’s App, Twitter, Instagram Chat and Facebook Messenger to communicate with businesses and they want banks involved too.

"Consumers have moved to chat in mass, and it is fast becoming the number one preferred digital engagement platform. This research reveals that they're now ready to do business with the brands they love on their favorite chat apps," said Pieter de Villiers, CEO and co-founder of Clickatell. "Banks and other brands need to meet consumers where they are, which is on chat, or risk losing mindshare."

"Consumers have moved to chat in mass, and it is fast becoming the number one preferred digital engagement platform. This research reveals that they're now ready to do business with the brands they love on their favorite chat apps..."

While half of all banking consumers have used chat to talk to a business, 68% of millennials have done the same. Millennials are also most likely to use chat for banking if it was offered. Experts predict chat commerce via mobile in the U.S. will gain significant adoption first in customer service and then move on to transactions and payments around goods and services.

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