● Covered by 1 source · 1 reportMedium impact1 neutral
Study: Gen Z abandons online carts if digital wallet options are unavailable
Key points
- 36% of Gen Z shoppers abandoned carts due to payment option absence.
- This rate is 1.7 times the overall average for cart abandonment.
- Gen Z's spending power is expected to reach $12 trillion by 2030.
- Digital wallets were used in 40% of online purchases in 2025.
Gen Z's Payment Preferences Drive Cart Abandonment
A recent study by PYMNTS Intelligence revealed that Gen Z consumers are particularly selective about online payment options. Over one-third (36%) of Gen Z shoppers abandoned an online purchase in the past 30 days because their preferred digital wallet was not available at checkout. This rate is 1.7 times higher than the overall average across all demographics.
Impact on Retailers and Future Spending
The study indicated that 40 million consumers from Gen Z and Millennials collectively abandoned intended purchases in one month, leading to substantial profit losses for online retailers. With Gen Z's spending power projected to grow to $12 trillion by 2030, retailers who do not expand their online payment options risk missing out on a significant market segment.
Rising Adoption of Digital Wallets
Digital wallets, such as Apple Pay and Google Pay, are increasingly popular for both online and in-store transactions. A Global Payments study noted that digital wallets accounted for 40% of online purchases in 2025. The PYMNTS study found that 87 million consumers, or one-third of US shoppers, used a digital wallet online in the prior 30 days, with Gen Z being the most frequent users at 47%.
Future Consumer Trends
Gen Z's behavior is signaling a broader shift towards digital wallet usage. By 2030, total spending via digital wallets in the US is expected to reach $4.1 trillion, a 64% increase from 2025. Companies that fail to adapt to these evolving payment preferences risk being left behind as these consumer trends continue to develop.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
A PYMNTS Intelligence study found that 36% of Gen Z shoppers abandoned online purchases in the last 30 days due to a lack of preferred digital wallet payment options. This trend, 1.7 times the overall average, indicates retailers risk significant profit loss and alienating a demographic whose spending power is projected to reach $12 trillion by 2030.