Florida-based online high-tech retailer TigerDirect passed $1m in total bitcoin sales on 13th March, less than two months after it began accepting the digital currency.
Steven Leeds, director of marketing at Tiger Direct, told CoinDesk that his company has been very pleased with its decision so far.
“The overwhelming response from our customers validates our decision.”
In addition to the sales increase, Leeds indicates that customers have benefitted from the arrangement as well, saving money on transaction fees when compared to other forms of online payment such as credit cards.
TigerDirect joins Overstock as the second merchant to pass the $1m bitcoin sales mark. Overstock announced that it reached the milestone on 4th March.
I love seeing bitcoin spread like wildfire. There are no real reasons for any retailer not to accept bitcoins. Payment processors are willing to absorb the exchange risk, and the retailers don’t have to hold the coins for extended periods of time if they are nervous about rate fluctuations.
Now with these proven sales figures, it should be a no-brainer. Companies that don’t take bitcoin are needlessly cutting themselves out of a lucrative market.