Eight in Ten (83%) PayPal Merchants Say Sales Have Increased Since Offering Popular Payment Method
Among those Able to Track, Businesses Report an 18 Percent Bump in Sales, On Average
Wednesday, March 09, 2011
New York, NY – PayPal is helping to drive sales for most merchants who offer the payment service, according to a new Ipsos Public Affairs poll conducted on behalf of PayPal. Among online merchants who are able to track their sales say sales have increased an average of 18 percent since adding PayPal’s Express Checkout service. Eight in ten (83 percent) merchants have noticed a bump in sales, while just 17 percent say they haven’t noticed an increase.
Eight in ten (84 percent) of those who noticed an increase in sales say it happened within the first 3 months after offering PayPal. Others say it took four to six months (8 percent) or longer (8 percent) before they noticed an increase in sales.
Since offering PayPal, merchants claim that 22 percent of their total revenue comes from PayPal’s Express Checkout. In fact, 25 percent of revenue coming from new customers is channeled through PayPal’s Express Checkout, suggesting that this payment method is helping to secure new business as well as retain existing clients.
Merchants perceive that their clients appreciate the option of paying with PayPal, with almost nine in ten (86 percent) merchants believing that their buyers “appreciate” the option. Very few believe their buyers are “indifferent” (12 percent) or “do not appreciate” (2 percent) the option to use PayPal.
These are some of the findings of an Ipsos poll conducted July 12-26, 2010, on behalf of PayPal. For this survey, a national sample of 805 PayPal Merchants (obtained from PayPal database) was polled online. A survey with an unweighted probability sample of this size and a 100 percent response rate would have an estimated margin of error of +/- 3.5 percentage points 19 times out of 20 of what the results would have been had the entire population of PayPal merchants in the U.S. been polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
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