Shoppers shift to cash as suggested by eBillme research

eBillme released eBillme Online Spending Index, a quarterly survey examining consumer online spending. The study conducted by Javelin Strategy and Research involved 1,600 respondents so as to measure projected online spending for the quarter and the influencing factors including the economy, available payment options, security, and financial control.

The Online Spending Index reveals that this quarter consumers are impacted by the economy and credit crunch. This has more to do with female shoppers. Thus the research shows:
• 48% of customers delay purchases in view of uncertain economy situation;
• 32% of customers are ready to spend more provided they could make purchases with cash which reflects the common trend of shifting towards cash;
• Credit card use reduced 5% with female customers which also indicates a shift towards cash.

Marwan Forzley, President and CEO of eBillme notes that the shift in behavior of female customers is inspired by their concerns with fraud, identity theft and the economy. Yet 38% of women confessed that they would like to purchase more online if they could control their finances and pay using cash.

Besides, this quarter the Index polled customers about their projected back-to-school spending. The results show that 18% of them are going to shop for back-to-school purchases online with females and 18-24 year olds representing the majority.