A recent study shows expectations of e-commerce to rise by 10 percent every year until 2014, therefore causing online credit card processing to do the same.
The study expects e-commerce sales to compound by 10 percent annually until 2014. If this occurs, sales will have reached about $250 billion.
In keeping with this amount, the study predicts e-commerce to take up 8 percent of United States retail sales. According to EDL news, “At the end of 2009, e-commerce represented 6 percent of retail purchases. Computers, apparel and other electronics made up nearly 50 percent of all online purchases.”
“Much of the overall retail sector’s growth in both the U.S. and the E.U. over the next five years will come from the internet,” Sucharita Mulpuru of Forrester said. “To maximize that growth, e-business professionals will have to help enable a multichannel strategy that responds to consumers’ increased desire to hop between the offline and online worlds and their increasing mobile and social behaviors.”
The reasons for the increase is in keeping with all the things we’ve written about in this blog, but the main reasons are simple: ease for customers and ease for companies.
Ease For Customers
There is a definitive ease for customers of e-commerce. From the sanctuary of their own homes, anyone can find what they need and have it shipped to their door. With online payment gateways making credit card processing easier and safer everyday, many people find shopping online safer and easier than shopping in a brick and mortar store. And with great deals popping up online that simply don’t exist in brick and mortar stores, the rise of e-commerce seems inevitable.
Ease For Companies
E-commerce certainly offers an increased value over traditional sales for companies. The first and most obvious benefit is the immediate cut cost of needing a store full of employees, but this isn’t the only one. Internet payment processing gateways has made credit card processing from anywhere simple. And by anywhere, we mean anywhere: parks, boats, trains, the house, the office … with smartphones and credit card processors like PayLeap, completing a sale is as easy as pressing a button.
Considering all of this, we agree with Forrester Research’s report. The rise and proliferation of e-commerce seems inevitable, and we look forward to serving any company in need of a fast, safe and reliable credit card processing.
Tags: credit card processing, E-commerce payment gateway, internet payment gateway, Online Payment Gateway
