eToys’ gets new customers, higher ticket with alternative payment
EToys Direct Inc. has attracted customers and boosted its average order size since it began accepting I4 Commerce Inc.’s Bill Me Later a year ago, Jim Scherman, eToys’ vice president of business development and customer service, tells Internet Retailer.
7% of eToys’ customers pay with Bill Me Later and 30% of them are new to eToys, Scherman reports. “We didn’t know what to expect going into it, so we are pleased that it has reached a significant level,” Scherman says. “It’s an indication that customers wanted it.”
Bill Me Later customers spend 5-10% more than other customers, he says. “That’s a significant increase,” he says “Given the state of the toy market today, any increase in sales is important.”
Bill Me Later provides instant, non-card credit to consumers. Bill Me Later settles with the merchant, then bills the customer, who has a non-interest grace period to pay off the charge, just as with a credit card. The payment option has proven popular with consumers who are uneasy about putting their credit card numbers online or who are maxed out on their credit cards but are still creditworthy.
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