In this day and age e-Commerce shopping has worked its way into the lives of most consumers around the world.
Phoenix, Arizona (PRWEB) June 27, 2013
Instamerchant, the leader in online merchant accounts and credit card processing, advises businesses that don’t yet have a credit card account through which their customers can submit payment via the Internet, to implement the means to do so.
Instamerchant owner, David Standage, stated, “In this day and age, e-Commerce shopping has worked its way into the lives of most consumers around the world. Many merchants don’t realize the vast numbers of shoppers that will pass them up if they are not equipped with the ability to accept credit cards.”
On an annual basis, the average American consumer spends approximately $1,300 dollars on items paid for via the Internet. According to industry forecasts, the same group will be spending more than $1,700 a year per person by the year 2016. That figure may not seem consequential, but the annual amount spent as a whole comes to approximately $327 billion. This is a substantial figure for merchants who are failing to serve their customers’ needs by not yet accepting credit cards.
Merchants that own brick and mortar establishments are finding that there is a decline in cash purchases, and that as much as 70 percent of all shoppers tend to seek out better deals online rather than make purchases in the traditional store. Projections indicate that by the year 2016 the amount of e-Commerce will have increased to 9 percent from 7 percent in 2012. A 15 percent increase of Americans shopping online will take place during the span from 2011 to 2016. This will bring the total number of Americans alone that are shopping via e-Commerce to 192 million people.
Social media also plays a major role in the e-Commerce boom. Statistics show that over 45 percent of all online consumers investigate social media websites before purchasing goods or services. According to Booz and Company, consultants on the growth of electronic payment, sales as a result of social media will increase by 93 percent by 2016.
In order for merchants to take advantage of the staggering growth of the number of shoppers paying electronically, they must establish a merchant account or bring their current merchant services and credit card processing up to date, making it as easy as possible for their customers to make purchases electronically.