Forrester on PayPal Usage
I've been trying out a few shopping carts lately in advance of revamping the DianeV e-book section which currently uses the PayPal shopping cart. The idea was to convert over to our merchant account, and to get rid of the incessant deluge of spam that utilizing PayPal's shopping cart brings (because it requires an email address to be embedded into the HTML code).
Forrester tapped into its own data from the first quarter to show that while in the previous three months, 79% of consumers reported paying for online purchases with credit cards, the percentage of those who reported using PayPal was up to 43%. 39% of consumers surveyed said they used debit cards to pay for online purchases, while 10% used Bill Me Later. 8% reported using gift cards, while 7% sent a check in the mail, according to Forrester's data.
Frankly, this shocked me. First, I'm hard pressed to imagine myself using a debit card for online purchases since debit cards tie right into your bank account. But more surprising was the PayPal data: forty-three percent?
The smart advice has long held that using the PayPal shopping cart made a website look less professional. Forty-three percent?
Without having read Forrester's research, I can't know who all these shoppers were. However, one can make seeming sense of the data: putting the findings together, it sounds as if people are moving away from using credit cards to straight cash, or the electronic equivalent of cash:
- 43% — PayPal: one can add money from a bank account to one's PayPal account.
- 39% — Debit cards: from a bank account.
- 7% — Checks: from a bank account.
That adds up to a whopping 89%. I'm not sure who these shoppers might be, or what they were buying. Shopping at eBay, maybe? In which case, the findings may not be so earth-shattering.
Alright. Back to my post as doorman and waitress to a cat. :)
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