Festival goers in favour of cashless payments, survey reveals
Three-quarters fans prefer to use a cashless method of payment at festivals
London, UK. 6th September Cashless expert, tappit, has released the results from its consumer survey into the fan festival experience, which reveals exactly what festival goers expect from event organisers.
Key research findings:
Regardless of age, there are two major concerns and pain points for customers; security and queuing!
- 84% feel theft is their biggest worry when attending a festival
- 68% consider security to be the most important factor when making purchases at a festival
- 84% stated that standing in a long queue was the worst part of their festival experience
- 73% of respondents prefer to go cashless because of the speed and security of the transactions
- 57% of festival goers consider the overall expense to be their main concern
The survey explores just how the classic festival experience can be improved. This includes dealing with concerns linked to fraud, theft, extensive queuing, missed moments and even sanitation.
Jason Thomas, Global CEO of tappit, said: “Our survey of more than 800 festival goers shows high demand for cashless methods of payments at festivals. The study indicates that 84% of festival goers don’t want the hassle of waiting in line alongside with their ongoing concerns about carrying cash – it’s all about enjoying the live experience with friends and family.”
Findings show that festival goers have an appetite to move away from cash and are becoming more aware of emerging payments technology in the form of wristbands and prepaid cards.
“If festivals don’t keep up with the changes in technology, there is a risk of potentially losing out to festivals that offer a better consumer experience,” continued Thomas. “With the benefits cashless systems bring to both event organisers and the festival goers, the transition to cashless should be an easy one.”
This survey is the first in a series from tappit and will be an important item of research for anyone looking to understand the dynamics around cashless events and consumer expectations.Download the full report here