Consumer Survey Identifies Direct Correlation Between Online Banking and Online Shopping.MODASolutions announces new industry statistics revealing that 50 percent of consumers who shop online also bank online and spend 117 percent more than the average online shopper WILMINGTON Wilmington. 1 City (1990 pop. 71,529), seat of New Castle co., NE Del., on the Delaware River and tributary streams, the Christina and the Brandywine; settled 1638, inc. as a city 1832. , Del. -- MODASolutions, the leading provider of payment solutions that extend online banking to checkout, today announced the results of a new consumer eCommerce See e-commerce. survey which investigates the relationship between online bill payers and online shoppers. J.C. Williams Group, a global retail consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a , was commissioned by MODASolutions to conduct the survey and analyze the implications for the industry. The survey revealed a compelling connection between heavy eCommerce shoppers and online banking users; heavy online banking users spend an additional 34 percent more when shopping online. This dramatic increase in eCommerce spending validates MODASolutions' online banking payment solution, eBillme[TM], as a key driver to increasing sales and customer acquisition for merchants. Further survey results revealed: * 80 percent of respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. indicated that the availability of "a safe and secure online payment option" was the most important factor when shopping online. * 76 percent expressed interest in alternative payment methods that allow them to pay for eCommerce purchases through their online bank accounts. * The total eCommerce average amount spent among those engaged in online banking in the previous six months was $1,060, approximately double the industry norms ($488) from a previous national survey conducted by J.C. Williams Group. In addition, heavy bill payers spent an additional 34 percent more over the same time period versus the study average ($1,423). * Finally, 50 percent of the U.S. online buyer population made at least one online bill payment in the previous six months at their primary financial institution or bill payment portal. "Consumers are realizing the benefits of online banking--security, convenience, and speed--and are discovering that these benefits can also apply to eCommerce if retailers offer online banking payment alternatives," says Jim Okamura Okamura is a Japanese surname:
intersection a site at which one structure crosses another. to continue growing with profitable results." "The survey reveals two important insights into consumers' eCommerce habits," says Marwan Forzley, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of MODASolutions. "Online bill payers are more likely to be online shoppers, making them a lucrative target for retailers. But while these consumers trust their financial institutions, they're still concerned about their financial security during online retail. This means alternative payment options such as eBillme--which lets consumers pay using their bank accounts--play into an established trust that appeals to consumers. For retailers, offering alternative payment options can attract more customers to their sites, increase average spending, and convert more Web site visitors into sales." Merchants can realize the benefits of eBillme and this lucrative consumer segment immediately after integration. MODASolutions continually con·tin·u·al adj. 1. Recurring regularly or frequently: the continual need to pay the mortgage. 2. conducts its own consumer surveys and research, and has uncovered Uncovered may refer to:
About the Study: The study surveyed 1,077 U.S. eCommerce buyers over 20 years old. The sample is representative of the U.S. online buyer population in apparel, home furnishings furnishings the extra type or quantity of hair on the head, tail, ears or legs, specified for a particular breed. For example, the feathers in setters, the beard in Bearded collies, the eyebrows in Schnauzers. , consumer electronics, and computer hardware and software categories. Seventy seven percent of respondents were 25 to 54 years old, and two-thirds of the respondents reported household incomes over $49,999. ABOUT MODASOLUTIONS MODASolutions is the leading provider of payment solutions that extend online banking to the merchant's checkout. The company is dedicated to increasing merchant sales by leveraging the power of online banking, while reducing the security risks of shopping online for both consumers and retailers. The company's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , eBillme[TM], does not require consumers to release any personal or financial information when placing orders. Consumers can shop online, by catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. , or through call centers, and pay for purchases at their bank, credit union, or bill pay portal, with the security and convenience of online banking. eBillme gives retailers access to over 84 million American users of online banking. More information can be found at http://www.MODASolutions.com and at http://www.eBillme.com. |
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