If you ever got to work and suffered a mild anxiety attack after realizing that you grabbed everything—wallet, keys and lunch—but somehow forgot your cell phone in the chaotic morning rush, you’re not alone.
It’s no surprise that people of all ages place significant value on their mobile devices. The Bank of America Trends in Consumer Mobility Report reveals that of 1,000 people age 18 and older who were surveyed regarding mobile trends, 85% check their smartphones multiple times a day and 47% admitted to not being able to last longer than 24 hours without their phones.
The report indicates that nearly 80% of people are willing to forgo vices like chocolate and alcohol if it means they can be reconnected with their beloved devices. Participants were asked to rank a number of items, like a toothbrush, Internet, coffee and their phones, according to daily life importance. Ninety-one percent gave their mobile phones the number one spot, only 4% less
than a toothbrush. Within the youngest group of millennials, specifically, 96% ranked mobile phones as most important to their daily lives. A toothbrush (93%), deodorant (90%), and the Internet (88%) all proved to be less essential for this group.If their phone was lost or stolen, 44% of respondents would be concerned about boredom because they do so much with their phones. Roughly 79% said they would be concerned about identity and security information, and the same number was reported regarding lost contact information. Seventy-two percent would worry over lost photos and video.
When asked to rank other people’s “mobile manners,” only 7% said checking your phone during meal times was annoying. On the contrary, 38% (highest ranking) said the same for checking your phone while driving.
As it relates specifically to banking, 47% said that online banking was their preferred method, but 87% also visited a bank in the past six months. Approximately 60% surveyed were not comfortable with the idea of replacing their wallets with their smartphones. Men (43%) were more comfortable than women (33%)Â with this new concept.
Other findings include:
- Of the participants who use a mobile banking app, 82% said they access it at least once a week.
- Nearly half (47%) of participants use mobile or online banking as their primary source of banking.
- Fifty-eight percent of participants have used mobile check depositing, 49% of participants 35 and up have used the feature.