June 16, 2017
Snake River Farms, producer of American Wagyu beef for the nation’s top restaurants, struggled to meet rising consumer demand. The AgriBeef subsidiary launched a homegrown eCommerce site—and ran into usability problems. To turn things around, Snake River enlisted Magento Commerce and technology and business consultants Gorilla Group, and PayPal. The resulting payment experience, featuring the Magento platform with PayPal Express Checkout, spurred 100 percent year-over-year growth.
“From day one,” says Snake River eCommerce president Shane Vaughan, “We saw 15 to 20 percent of transactions coming through PayPal.” In 2015, 30 percent of the company’s revenue came from PayPal sales—boosting average order value and significantly reducing pressure on its internal support team.
Universally, online shoppers want a simple and secure method to pay online, and adding the PayPal Express Checkout button to a Magento store connects a business with +200M active PayPal account holders who look for the PayPal way to pay. It gives customers a one-touch checkout experience that encourages repeat visits.
With PayPal Express Checkout, merchants get:
Real-time implementation. Installing the PayPal button is incredibly easy and doesn’t require a full shopping cart. PayPal is a Magento Premier Partner, so PayPal Express Checkout is pre-integrated into Magento 1 and Magento 2.
A conversion boost. Adding PayPal can give merchants up to a 44 percent boost in checkout conversion. One TouchTM converts online buyers at a rate of 87.5 percent, outpacing all competitors with the next closest checkout option scoring 36.4 percent lower than PayPal on average.
Incremental customers. Offering PayPal gives merchants access to +200M active users who enjoy the security and convenience of PayPal. And PayPal can help attract up to 3.3 percent more new buyers—plus, up to 82 percent of PayPal buyers are new to the merchant.
The power of PayPal Credit. PayPal Credit gives customers more time to pay while providing immediate payment to merchants, encouraging higher order values and more sales.
Because Express Checkout is integrated into the Magento platform, it’s incredibly easy to add to any Magento store, so merchants can get up and running quickly. And it includes the power of PayPal Credit which lets buyers take advantage of extended payment terms—while ensuring merchants immediate payment, encouraging larger order value, and enabling consumers with more buying power.
Here’s how setup works:
Set up a PayPal Business account (if you haven’t already).
Log in to your Magento account and go to your Magento Admin Panel.
Click through Payment Methods.
Go to PayPal Express Checkout and select Configure.
Complete Required Settings.
Check your Website for confirmation. The PayPal Express Checkout button should now be live.
For any questions on adding PayPal Express Checkout to your Magento Store, call 866-745-4025.
Forrester Total Economic Impact Study (TEI) of 4 Large Enterprise Merchants, Sept. 2014
Study commissioned by PayPal and conducted by comScore Research. Sources: comScore 1M person US desktop panel of online shoppers, transactions completed in Q3 2015
PayPal Fast Facts 2017
Nielsen’s Online Panel research for activity occurring from July-November 2015 compared PayPal that offer PayPal as a payment option. Nielsen measured 125,000 households’ online behavior across 10 SMB merchants. Copyright 2016 Nielsen.
Nielsen’s Online Buyer Insights measured online and mobile purchasing behavior 52 weeks pre-/post-PayPal integration to calculate lift in net new customers who completed a purchase using PayPal. Weighted average results across a group of 15 small and medium-sized merchants; findings are based on actual transactions, measured among ~39MM US Zip11 Households. Study completed January 2016.