National Survey Reveals Online Shoppers Actively Seeking Out Alternative Payment Methods
Seventy-five Percent of Online Shoppers Have Used an Alternative
Payment Method; More than Half Look for Alternative Payment Methods
When Shopping Online
MOUNTAIN VIEW, Calif.--(Business Wire)--
It's no surprise that offering alternative ways to pay online
increases a shopper's willingness to purchase an item. But what
retailers might not know is that more than half of online shoppers (54
percent) actively look for alternative payment methods when shopping
online.
The 2008 Alternative Payments Survey, sponsored by TrialPay and
released today, found that 75 percent of online shoppers have used an
alternative payment method, such as Google Checkout, PayPal, Bill Me
Later and TrialPay, to purchase an item online. And 59 percent of
online shoppers say they are more likely to make a purchase online if
there is an alternative payment method available.
Giving Consumers a Reason to Purchase
Nearly 80 percent agreed that they are more likely to purchase an
item online if there is an incentive associated with that purchase.
And 40 percent admit to having already taken advantage of such offers
that are presented at checkout while shopping online, such as "Get the
item you're buying for free just by trying one of these other offers."
The Way People Purchase Software Online is Changing
The 2008 Alternative Payments Survey found that 61 percent of
online shoppers have downloaded trial or free versions of software. Of
this 61 percent, only 10 percent said they 'often' or 'always' buy the
full version - meaning 90 percent will never pay for the premium
version of the software. However, when asked if they could receive a
free upgrade to a premium or full version by purchasing something else
from another merchant:
-- 11% said 'Yes, without a doubt'
-- 59% said 'Yes, if the "other merchant" had something I needed,
or if it was a store that I shop with regularly'
-- 5% said, 'No, I'd rather pay full price'
-- 25% said 'No, I'd stick with the free version or not purchase
at all'
That means 70% of consumers would purchase a premium version if an
incentive was offered at time of checkout/download.
"There are many ways to increase successfully completed checkouts,
but perhaps the most important one is to try to augment the consumer's
willingness to pay," said Alex Rampell, co-founder and CEO of
TrialPay. "Adding alternative payments is a good place to start
because, as the survey results demonstrate, increasing payment options
and conversion tools can rope in more potential shoppers. A relevant
alternative payment option can slowly but surely chip away at a
consumer's reluctance to pay and will make a lasting effect on a
retailer's business."
About The 2008 Alternative Payments Survey
The 2008 Alternative Payments Survey is a national survey designed
to get a better understanding of how consumers view and use
alternative payment methods to purchase goods online. The survey was
conducted in April 2008 via Zoomerang, an online survey services
provider, and is based on 525 respondents (42% male, 58% female). The
survey is sponsored by Mountain View, Calif.-based TrialPay. A
Research Brief providing detailed information on the findings is
available at the TrialPay Web site, www.trialpay.com or by contacting
trialpay@famapr.com.
About TrialPay
TrialPay unites advertisers, merchants and shoppers to create the
first payment platform that benefits all parties. Using TrialPay,
merchants turn lost and indecisive shoppers into paying customers by
giving away their product for free when a shopper completes an offer
from blue-chip advertisers. Advertisers pay a bounty that equals or
exceeds the merchant's regular price to create a profitable
transaction out of a stalled or abandoned cart. TrialPay ensures that
every shopper finds an offer that compels him or her to purchase by
pairing premium brands with the added value of a free product. With
TrialPay everyone wins: shoppers get a free product, advertisers
acquire new customers and merchants earn significant revenue from lost
or unlikely customers.
TrialPay works with over 4,000 premium merchants, including
industry leaders in software, games, publishing, online services and
retail. TrialPay currently has more than 7 million registered users
and adds 30,000 new users every day.
fama PR
Keri Bertolino, 617-758-4148
trialpay@famapr.com
or
TrialPay
Lisa Contoyannis, 650-318-2637
press@trialpay.com
Copyright Business Wire 2008
