Bill Me Later Shares Some 2007 Holiday Results
Bill Me Later has announced its 2007 holiday results - reporting an upsurge in toys, travel and fashion purchases in Q4 2007 as compared to Q4 2006. Toy
purchases grew 131 percent, travel buying increased 67 percent, female
fashion, including shoes and handbags, increased 128 percent. The company also reported that consumers who used Bill Me Later more than doubled their use of deferred billing in Q4 2007 as compared to Q4 2006.
Third party research found that Bill Me Later, which allows consumers to make online and phone purchases at more than 700 retail websites without using a credit card, had the highest merchant adoption rate in the industry and experienced a significant spike in overall traffic.
Merchants offering Bill Me Later reported robust sales especially in the toys, fashion and travel categories. They also saw a growth in consumers’ use of deferred billing options and special promotions.
“Bill Me Later represented a significant percentage of our sales for the 2007 holiday season. The convenient service in conjunction with flexible payment options allowed eToys to offer a variety of pricing promotions during our critical season,” said Michael J. Wagner, CEO of The Parent Company, which owns eToys. “We continue to experience increased sales and higher average order values from consumers who come to us through Bill Me Later, and we look forward to an even more robust merchant network in the future.”
“Bill Me Later has been a key, strategic marketing partner for eBags since 2004," said Jon Nordmark, CEO and co-founder of eBags.com. "Its merchant network continues to attract and deliver loyal customers who often outspend those using other forms of payment.”
As the payment market expands, Bill Me Later continues to lead the industry. A study by Brulant found that Bill Me Later had the highest merchant adoption rates among all the major alternative payment services from the period of February 2007 through December 2007. According to Hitwise.com, visits to billmelater.com grew 300 percent in December 2007 as compared to December 2006.
“Our exceptional 2007 holiday results demonstrate the strong consumer demand for an easier and safer shopping experience,” said Vince Talbert, vice president of marketing for Bill Me Later, Inc. “The consumer-friendly Bill Me Later network helps all our merchant partners grow revenue, increase average order values and more easily connect with loyal customers. In 2008 we will continue to work with our retail partners to further expand the benefits we provide.”
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