Geeknet terminates a purchase agreement with Hot Topic and accepts a $20 per share bid by GameStop.
The seal reassures shoppers the site is safe, the retailer says.
Online retailer of cell phone, iPod and iPad accessories AccessoryGeeks.com says an A/B test showed that consumers are more willing to buy online when they are reassured their transactions are protected.
The retailer ran a test that compared shoppers who saw the BuySafe Inc. seal on the site against a control group that was not shown that the seal. Clicking on the seal shows that BuySafe guarantees the delivery of purchases up to $500, offers up to $10,000 of protection if a consumer’s identity is stolen via the site and ensures that if the retailer drops the price of the item BuySafe will pay the difference up to $100. The guarantees are valid for 30 days.
After weeks of testing last month, the retailer says visitors who saw BuySafe’s seal were 5.2% more likely to make a purchase than other consumers. Moreover, the average order value for those who saw the seal was 16.7% more than for consumers who did not see the seal.
“BuySafe seems to give shoppers the extra confidence they need to make a purchase,” says K.C. Nakaki, Internet marketing director for Accessory Geeks, which is No. 698 in the Internet Retailer Second 500 Guide.
Because of the boost to the site’s conversion rate, adding the seal to its site was an easy decision, she says.
BuySafe says more than 5,000 merchants offer its bonds.