CHICAGO | In a Study Released Today at IRCE by ShopVisible of 23,000 Transactions, 67% of Mobile Buyers Used PayPal - Implying Alternative Payment Options Open the Door to the $31B Mobile Commerce Marketplace.
Over the past 60 days, ShopVisible, selected by the SIIA CODiE Awards as Best Ecommerce Solution 2012, conducted research spanning 23,000 web and mobile transactions. In thousands of mobile transactions, 67% of customers used PayPal or an alternative payment method while only 33% chose to pay by credit card. In web-only transactions over the same period, the results were reversed: 62% of buyers choosing to pay by credit card, 12.9% by Amazon Payments, 8.1% by Google Checkout, and just 16.8% with PayPal.
To the company's knowledge, this is the first study revealing that alternative payments overcome part of the barrier to unlocking mobile commerce, which is projected at $31 billion by 2016 according to Forrester Research. The research is in line with recent news at CES that PayPal's $4B share of the mobile commerce market far outpaces even PayPal's predictions.
"These results decipher some of the code to unlocking the potential of mobile commerce," says Sean Cook, CEO of ShopVisible and author of Evolving Commerce, set for release in July 2012. "Mobile is a different animal, as this research shows. Lacking a simple alternative payment method could crush any retailer implementing a mobile commerce strategy. Even if alternative payment methods don't constitute a large percentage of your existing web business, you should reconsider the relative importance when it comes to your mobile strategy."
Join Sean Cook in press room 475 A at the Internet Retailer Conference and Exhibition (IRCE) today at 3:30 to discuss these findings, and their impact on the future of mobile commerce. ShopVisible's award-winning ecommerce platform supports web, mobile and social commerce and is relied on by leading brands such as Office Depot Canada, London Fog, Movie Mars, Tempur-Pedic, and Loehman's. About ShopVisible
ShopVisible, the 2012 SIIA CODiE award winner of Best Electronic Commerce Solution, delivers evolving commerce solutions for companies seeking better experiences and relationships with their customers wherever they shop - on the web, a mobile device, or a social network. For ShopVisible, commerce is more than a well-facilitated transaction; it's an entire ecosystem of people, processes and technologies. Our on-demand SaaS commerce platform provides the innovation and adaptive structure to help companies and their communities thrive everywhere. The result: innovation and agility for industry leadership. Our commitment to innovation and continuous enhancement to the platform is why ShopVisible is the chosen commerce partner for companies like Loehmann's, London Fog, Tempur-Pedic, Office Depot Canada, and Case Mate. Learn more at www.ShopVisible.com . Source: ShopVisible