Payments Options Could Up Big-Ticket Online Retail

The latest data released by FuturePay finds that 92% of people are shopping online at least a few times a month. Among people who shop online daily, 75% have turned to the web for their big-ticket purchases, too, compared to just 33% of occasional online shoppers.  The study, “The Big Ticket, What’s Stopping Shoppers,” is based on responses from 1,500 online shoppers, with an eye toward how non-card payment options and financing can drive retail sales on high-value items such as appliances and furniture.

The report says that daily online shoppers have an increased comfortably and familiarity with non-card payments, and would like more payment options, with 40% reporting lack of payment options as a common frustration. In fact, increased options seem to appeal to everyone; more than 70% of total respondents said they felt that offering more ways to pay than only by card was “somewhat important” or “very important.” When it comes to big-ticket items, 68% of all online shoppers, and 79% of daily online shoppers, said they would be more likely to take their shopping online if installment-payment options were available.

Read the whole report from FuturePay here.