In a fast-paced world, hurtling even closer to becoming a cashless society, GoDonate has reported that nearly 4 in 10 donations are now made using the Digital Wallet. That’s almost 40% and even those who give regularly are starting to use this method with more frequency.
This data has been based on the Online Donations Insight Report of 2022 which was put together after analysing anonymous donation data from £25 million of income generated by GoDonate over the last 12 months on behalf of charities based in the UK.
Looking back at Christmas 2022, the data shows that the most popular day for one-off donations is Christmas Eve with a sharp fall after this date; no doubt whilst people are busier and caught up in other activities over the festive season. The build-up to the Christmas holidays is usually quite a steady one and therefore charities should be looking to tap into the public’s generosity during this time. The report shows that during this time period, donations for the whole month were at 24.47% in week two and 27.33% in week 3. It’s also worth noting that the 22nd of the month actually had the highest value of donations being made. Therefore, taking this information into account, pushing a promotion around this date could be beneficial for driving more funds towards the charity.
As far as regular giving donations are concerned, the pattern is slightly more irregular, compared to one-off donations. The first three weeks of December are all relatively equal (around the 22% mark) and, unlike the one-off donations, have a small increase after Christmas and Boxing Day.
Whilst the Digital Wallet is now accounting for 16% of overall regular donations, direct debit is still the preferred method at 60%, with credit cards coming in at 24%.
So, why should charities offer digital wallets? With the increase in technological advances, it’s imperative that charities diversify and offer an array of payment options, making the journey easier for the donor, whilst at the same time increasing their chances of growing their money pool. It’s also important to realise that whilst this also gives more options to the payee, the Digital Wallet button is essentially equal to the Donate Now button, but more powerful. This is because it prompts form submissions and bypasses any need for required fields to be completed, thus making the donation process even easier and quicker.
In conclusion, the tech is there to help and if it makes life easier for both parties involved then it needs to be harnessed and appreciated for what it does, leaving you all more time to get other things done!