Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
ToyWiz.com utilized a split A/B testing methodology to objectively measure the conversion, sales and profit impact of the program.
Arlington, VA and Suffern, NY (March 01, 2012) – buySAFE, Inc., a leading provider of third party guarantees for internet retailers to increase profitability and customer satisfaction and ToyWiz.com, the most complete selection of the hottest toys, cards and games anywhere in the world, determined during an A/B test that buySAFE materially increased website conversion and sales while also improving the overall customer purchase experience.
ToyWiz.com utilized a split A/B testing methodology to objectively measure the conversion, sales and profit impact of using the buySAFE program. The results were convincing. By utilizing buySAFE, ToyWiz.com increased its order conversion rate by 6.0%. The test was conducted over a multi-week period. The results were highly statistically significant with hundreds of thousands of unique visitors included in the test.
"The bottom-line is buySAFE Guaranteed works. Our buyers appreciate it and the A/B testing proved it." said Kenny Shamus, CEO of ToyWiz.com. "Adding buySAFE Guaranteed to our site provides us a competitive advantage and is bringing in more sales. We are very pleased with the decision.”
"We are thrilled with the conversion lift ToyWiz.com experienced and excited to partner with Kenny and the ToyWiz.com team" said Joshua Nodell, Director, Account Management at buySAFE. "We value this opportunity to play such an important role in helping ToyWiz continue to grow their sales and profits. The added success to our customers is always a top priority for buySAFE.”
buySAFE, Inc. provides a transactional guarantee program for online retailers to increase profits and customer satisfaction. buySAFE is partnered with Liberty Mutual, Travelers and Assurant Specialty Property. With over 5 billion online impressions of buySAFE each year, 25 million guaranteed purchases and over 5,000 buySAFE Merchant websites, buySAFE is widely recognized as an industry leader in providing its unique guaranteed shopping programs. buySAFE's investors include Grotech Ventures, Core Capital Partners, Symantec Corporation and The Hartford Financial Services Group. For more information, visit: http://www.buysafe.com
Headquartered in Nanuet, NY, ToyWiz has been in business for almost 20 years selling a complete selection of the hottest toys, cards and games, over 50,000 products worldwide. Its online store has been steadily growing over the last 8 years and has now become the industry leader in collectible cards and toys. For more information, visit: http://www.toywiz.com