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ECommerce now makes up more than 20 percent of the global retail market. For eCommerce merchants, success lies in building a strong brand presence that brings users to your website and encourages them to purchase. Choosing the right merchantservices provider is crucial for smooth business operations and customer satisfaction.
In 2020, consumers spent approximately $630 billion on online shopping, and merchants lost $12 billion to fraud. However, by understanding how fraudsters target different age groups, merchants can tailor their fraud prevention programs to fit the risk profiles for their customer demographics.
Taking a hybrid automated/live approach to service is already a popular solution. In fact, about 85% of customer interactions online. will be conducted without a human service provider by 2020. It might sound a little strange, but the key to customer comfort and accelerated growth with the conversational approach is automation.
The use of cryptocurrencies for online shopping has shown parallel expansion. Major brands such as Home Depot and Microsoft have begun accepting crypto as part of their eCommerce payment options. Even for small onlineretailers, it’s important that you’re not too late to the game. What Is Cryptocurrency?
Store management and paymentprocessing – the two functions that pretty sum up what you should expect from a POS system. Therefore, while the numerous options trigger increased competition among providers, your selection process can be a bit overwhelming. The secret is using a structured selection process.
Abandoned carts are one of the most painful and costly issues for onlineretailers, and they are scarily common. With open and click rates also performing impressively at 30% and 21%, it’s no wonder that merchants are turning to them in their droves. Optimize your checkout process. Reading Time: 9 minutes.
These Yearly Overviews of the UK Retail Sector is crucial for merchants. . There’d be catastrophic financial repercussions if these four retailers were to sustain supply chain disruptions. For example, cryptocurrencies are being considered as an accepted form of payment. The Future.
Save the date for the “Make it Big” Conference, to connect with thought leaders, ecommerce industry experts, and other merchants interested in growing their online businesses. Web3 Cryptocurrency Omnichannel selling B2B selling Reaching Gen Z with your online store NFTs The Metaverse.
Finally, it’s expected that ecommerce will make up 25% of total global retail sales by 2026, up from 19% last year. Though onlineretail sales have been increasing steadily in the USA for years to $768 billion in 2021, ecommerce statistics show that brick-and-mortar sales still make up the majority of retail sales in the country.
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