Wal-Mart sees sales lift from Pay with Cash, search
By Alistair Barr
SAN FRANCISCO (Reuters) - Wal-Mart Stores Inc (WMT.N: Quote) is seeing a sales lift from new efforts to get more shoppers buying online while still visiting physical stores, Joel Anderson, chief executive of Walmart.com, the ecommerce arm of the world's largest retailer, said on Wednesday.
Wal-Mart launched Pay with Cash in late April, allowing customers to order on its website and pay at a store within 48 hours.
The program, aimed at getting more Wal-Mart shoppers with limited access to credit online, has had a strong start, Anderson said at the Internet Retailer Conference & Exhibition in Chicago.
Pay with Cash now accounts for almost two percent of all online orders and 30 percent of these customers are new to Walmart.com, Anderson said.
The size of Pay with Cash orders is 50 percent larger than the average online order, according to Wal-Mart.
When Pay with Cash customers come into a Wal-Mart store, about 40 percent of them end up paying with a card or some other form of non-cash payment, Anderson also noted. That suggests a lot of Wal-Mart customers are still concerned about using credit and debit cards online, Anderson said.
Wal-Mart also launched a new search engine on its website earlier this year. Since then, the company has seen a "double digit" increase in conversion - a measure of how many shoppers end up buying something after searching for a product, Anderson said.