Ecommerce might be the savior of companies hit by the economic recession, especially the ease of payment gateways and online credit card processing.
On July 1, 2009, Crabtree and Evelyn filed for bankruptcy under Chapter 11. During this time, according to Reuters, Crabtree and Evelyn cut their store number down from 126 across America to 91 locations.
But recently a “U.S. bankruptcy judge on Thursday approved a reorganization plan from U.S. retailer Crabtree & Evelyn Ltd, paving the way for the seller of soaps, fragrances and lotions to exit court protection later this month.” The reorganization plan includes a strong focus on ecommerce, which very well might be the saving grace for companies negatively affected by the economic recession.
In fact, Pierce Mattie New York claims the company will be making a strong push in the world of ecommerce, and they presume this will include a push in the world of social media, which is a common way to make ecommerce sites more profitable.
In the world of the payment gateway reseller and the online credit card processing, this could easily mean a strong upswing in the amount of ecommerce and online trade. As it becomes more common–and more beneficial–for companies to have an ecommerce component to their normal retail locations, it becomes more important for these companies to have safe and reliable ways to process their customers’ credit cards. As may seem at first obvious, the key to doing good business is reliability. If companies like Crabtree and Evelyn are using ecommerce as a means to save themselves from bankruptcy, it is obviously of the utmost importance to also protect their customers.
As we written about before, staying safe while using ecommerce is vital and actually fairly easy so long as you follow a few simple rules.
Ecommerce has a few things that make it a saving grace during the economic downturn. The most obvious of them is, obviously, reduced costs. Without having to pay for a physical space or as much staffing, a company can actually get an increased geographic range of sales. During a time when money is truly not growing on trees, this sort of change for a company can mean the difference between bankruptcy and survival. Just ask Crabtree and Evelyn, who are actually succeeding despite bankruptcy during a very difficult period of economic distress.
Not many companies have been able to reorganize and restructure in such a way that actually proved beneficial enough to pull themselves from bankruptcy. So bravo Crabtree and Evelyn, for seeing the future and not wasting any time using it to your advantage.
Tags: ecommerce payment gateway, internet payment gateway, Online Payment Gateway, preventing shopping cart abandonment, shopping cart, shopping cart provider, shopping cart providers
