Geeknet terminates a purchase agreement with Hot Topic and accepts a $20 per share bid by GameStop.
EyeBuyDirect, a retailer of prescription and non-prescription frames, has found that shoppers are more likely to complete a purchase transaction with the site’s new shopper bonding service, which refunds a customer’s purchase in case of merchant fraud.
EyeBuyDirect Inc. a retailer of prescription and non-prescription frames, lenses and other eyewear, reported a 9.6% increase in sales conversion rates after deploying a shopper bonding tool from e-commerce trust and safety company buySafe Inc. on its e-commerce site.
Through its bonding service, buySafe will refund a customer’s purchase price up to $25,000 within 30 days in cases of merchant fraud.
EyeBuyDirect used A/B testing to measure the impact of the buySafe Bonding option and seal of approval at checkout. The test included approximately 367,000 unique visitors to EyeBuyDirect.com who placed nearly 5,000 orders, buySafe says. The retailer notes that visitors who saw buySafe’s seal and bonding option in checkout were more likely to make a purchase than those in the control group that did not see the bonding information.
“We were skeptical about whether an established brand like EyeBuyDirect would see any conversion lift from buySafe, but were amazed that it delivered such a strong increase in our conversion rate,” says Roy Hessel, CEO of EyeBuyDirect.
BuySafe will be exhibiting at the Internet Retailer Conference & Exhibition 2010 June 8- 11 in Chicago.