SAN JOSE, Calif.--Please replace the release dated August 4, 2008 with the following corrected version due to multiple revisions.
The corrected release reads:
PAYPAL ANNOUNCES BACK-TO-SCHOOL DEALS TO HELP SAVE TIME AND MONEY
PayPal Survey Reveals Tighter Budgets for Back-to-School Shopping Season
This year, as the leaves start to change colors, parents will be exercising tighter control over the back-to-school budget, according to a recent PayPal survey. More than half of the parents surveyed said they will wait for sales before buying for their teens this fall. Forty percent will give their teens a budget and let them decide how to spend the money while only eight percent of parents said they will buy their teens whatever they want.
In order to help parents and kids find clothing and supplies that fit their budgets, PayPal has launched a back-to-school Web site with the season's hottest deals and styles: www.paypal.com/backtoschool. Starting today, parents can use their PayPal accounts and receive discounts, cash-back offers and other promotions at some of the most popular sites on the Web, such as American Eagle, eBags, eBay, Guess, OfficeMax and Shoebuy.com.
As parents and teens stock up for school this fall, many will disagree over how the back-to-school budget is managed. The PayPal survey, conducted by Ipsos North America, found some disparity over who controls the purse strings. Eighty-two percent of parents said they are involved in deciding what their teens buy. However, 62 percent of teens disagreed and said they decide what to buy on their own. Teens with jobs claim to have the most independence, with 45 percent saying they not only make the final decisions on what to get but they also use their personal money to facilitate the purchases.
"While parents and kids disagree about who is really in control of back-to-school purchasing decisions, online shopping is something everyone can agree on," said Don Fotsch, Vice President of User Experience and Design. "PayPal is helping parents and kids save time and money by offering great online deals on everything from trendy apparel to back-to-school basics that don't require a trip to the crowded mall."
Additional findings from PayPal's survey include:
-- Computers or clothing? While most teens concede they need basic school supplies, 52 percent of boys said they wanted a laptop for the back-to-school season; 41 percent of girls listed clothing as the number one item on their shopping lists.
-- Chain reaction: Sixty-four percent of teens shop at chain stores. The majority of girls surveyed (81 percent) said they shopped at chains, while less than half of boys reported shopping at chain stores (48 percent).
-- In style: Friends are still the biggest style influencers for teens (78 percent). Magazines (29 percent), television (27 percent) and family (27 percent) are also factors.
-- If mom says no, ask dad: While moms seek sales and bargains, dads are more likely to assign their kids a budget (43 percent) and let them spend it how they see fit. Dads are also more likely than moms to buy their kids whatever they want (12 percent versus 7 percent).
About the survey
The PayPal back-to-school survey was conducted by Ipsos North America, among the most trusted research brands in North America, from February 26 to March 2, 2008. The total sample size was 2,002 respondents, divided evenly between teens and parents, with quotas to ensure sample distribution by age and gender according to the online population.
About PayPal
PayPal is the safer, easier way to pay and get paid online. The service allows users to pay without sharing financial information and gives consumers the flexibility to pay in any way they prefer, including through credit cards, bank accounts or account balances. With 63 million active accounts in 190 markets and 19 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company (Nasdaq:EBAY). More information about the company can be found at www.paypal.com.
About Ipsos in North America
Ipsos is one of the fastest growing market research companies in the U.S., market leader in Canada, and among the most trusted research brands in North America. With more than 1,500 professionals and support staff in the U.S. and Canada, Ipsos offers a suite of survey-based services — guided by industry experts and bolstered by advanced analytics and methodologies — in advertising, customer loyalty, marketing, media and public affairs research, as well as forecasting, modeling, and consulting. Ipsos companies offer a complete line of custom, syndicated, omnibus, panel, and online research products and services.