ATLANTA–Not surprisingly, a new survey has found nearly three-quarters of Americans have turned to digital solutions as a result of social distancing rules stemming from the coronavirus—although usage numbers are affected by income and education levels.
William Mills Agency said it commissioned and online survey by The Harris Poll from March 23-24, 2020 among 1,043 U.S. adults ages 18 and older and asked, “During social distancing, how much more or less likely are you to leverage digital banking and digital payments?”
Overall, 73% of Americans said they would be more or much more likely to leverage digital banking and digital payments during social distancing.
“However, when looking at income levels, only 64% of Americans in households with less than $50,000 said they were more or much more likely to use digital channels, which is significantly less than those households with incomes of $50,000 or more (78%),” Williams Mills reported.
The survey also found education levels show a marked difference with 62% of those with high school education or less reporting they’re more or much more likely to leverage digital banking and digital payments during social distancing, compared to 78% of college graduates.
Findings ‘Interesting’
“While the results are somewhat expected, it is the different responses that make the study interesting,” said Amber Bush of William Mills Agency. “For example, 18 to 34-year-olds are less likely than those ages 45-64 to say they will be more or much more likely to use digital banking and payments during social distancing (68% vs. 82%), but we have seen enough studies on digital banking to suggest the younger group is more inclined to already be using these channels.”