We officially launched our wallet feature in ShopSavvy 5.0 on November 21st, 2011, but unofficially we released the feature on September 19th. The first non-employee user created their wallet and immediately bought an item for $30.90 from Buy.com.
For those of you who haven’t heard about our wallet here is a quick explanation: The wallet feature allows consumers to convert their local purchases to online purchases without leaving the application to visit an online retailer’s website. Simple, fast, low inertia purchasing from any retailer. I thought it was time to share some of the stats since launch:
Q. Which retailers are affected the most by offline to online conversion enabled by ShopSavvy Wallet?
A. 1. Barnes & Noble* ~ 13%
2. Target ~ 6%
3. OfficeMax ~ 3%
4. Macy’s ~ 1%
5. Walmart ~ 1%
* While B&N saw a LOT of offline to online purchase conversion, the majority of their conversion was to B&N.com (their web property).
** No other retailer saw 1% or more conversion, i.e. very long tail.
Q. Who uses ShopSavvy Wallet more, men or women?
A. 71% of ShopSavvy Wallet users are men, while 50% of ShopSavvy users (generally) are women.
Q. Who uses ShopSavvy Wallet more, iOS or Android users?
A. Surprisingly iOS users are 10X more likely to create and use a Wallet than Android users. Android users report much higher levels of fear and lower levels of trust than iOS users.
Q. How old are ShopSavvy Wallet users?
A. Almost half of ShopSavvy Wallet users are between 26 and 36 (48%).
Q. How many ShopSavy Wallet purchases were made in retail stores?
A. 87% of purchases were made by users located in retail stores.
Q. How much did the average ShopSavvy Wallet user save by converting to online from the local store they were standing in?
A. 32% on average.
Q. What is the average price of products purchased by ShopSavvy Wallet users?
Q. What is the average shipping costs of items purchased by ShopSavvy Wallet users?
Q. What is the cheapest price for products purchased by ShopSavvy Wallet users?
A. Several books sold for .01 each including The Millionaire Next Door, Pokemon Ultimate Handbook, God Still Don’t Like Ugly.
Q. What were the most expensive products purchased by ShopSavvy Wallet users?
A. Apple Thunderbolt Display ($889), iPhone 4S ($819) and Alesis DM10 Studio Drum Kit ($799).
Q. What percentage of products purchases were new versus used?
A. 72% of products purchased were new.
Q. Which credit card did users use in their ShopSavvy Wallet?
A. 56% Visa, 25% Mastercard, 15% Amex, 4% Other
Q. What did users buy with their ShopSavvy Wallet?
A. 32% Consumer Electronics, 19% Books, 11% Office Supplies, 8% Movies, 8% Video Games.
Q. How many wallets have been created to date?
A. While ShopSavvy Wallet was in beta (between September 19th and November 21st) we were adding approximately 2500 wallets each week. The growth rate has increased, but we are not publicly releasing this data at this time.