Our fondness for the wallet continues
We live in a digital age where smart payment providers are competing to move us further away from hard cash and into a cashless society.
Apple pay, amazon pay, paypal and Klarna are all cashless, digital payment solutions for those who want to lose their connection with hard currency.
Big brands and retailers are anticipating a change in behaviour too. There has been an explosion of smaller, slimmer credit card cases in recent years as they expect consumers to carry less cards and no cash.
This might well be the expected behaviour of Millennials, after all they are born into the digital age. Card cases are more affordable too, so they can buy into Luxury brands at an entry price level.
But, according to our recent poles on Twitter, not all of you are ready to give up wallets just yet and it seems that our fondness of the traditional billfold wallet may continue for a while yet.
When given the choice of a wallet or a card case, a staggering 76% responded in favour of carrying a wallet and 46% preferred to carry one in black.
For many accessories brands, the wallets category and personalised wallets, will be one of their highest grossing categories this Christmas, but could this have more to do with style, than the unwillingness to move with the times.
It’s about style
Style and a distinctive appearance transcends clothing, and accessories allow another layer of individuality. A key fob, wallet, belt buckle, pocket square or lapel pin all set you apart and tell a story of who you are.
You tap your phone to pay for flowers, to settle the bill of a romantic candle lit dinner or to buy a bottle of Delamain de Voyage. It’s all over very quickly. Is that stylish?
You open your jacket and remove your beautifully crafted billfold wallet, open it slowly to remove your credit card or cash, you pay, take your receipt and thoughtfully tuck it back inside your jacket pocket. WOW! Smooth, stylish and gentlemanly.
We know which scenario we prefer, so let’s hope the humble wallet sticks around for many more years to come.