eCommerce is anticipated to surpass $3 trillion in global sales by 2019, as Statista and eMarketer report. Are you running an eCommerce business or planning to start? This article will tell you about the current state of eCommerce. Also, you’ll learn about the best way to get cheapest merchant services.
eCommerce and Online Shopping
Online shopping is among the most popular online activities around the globe. According to Statista and eMarketer, this year the world is going to have $2.8 trillion in eCommerce sales. This is up almost $500 billion from 2017.
According to eMarketer, Amazon and Alibaba are the largest players globally. There’s an ongoing increase in mobile browsing and shopping. This suggests consumers will increasingly be keener on making larger value purchases via their mobile devices. By the way, research in the field shows that mobile shoppers tend to spend more.
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eCommerce in the UK
As of 2017, credit cards were the most popular payment method for making purchases online in the UK. Credit cards are used to pay nearly 40% of all online transactions in the UK. Debit cards are used to process over 3 in 10 online transactions.
According to the Daily Mail, 82% of British internet users shop online on a regular basis. This is the highest mark among the 28 EU member states. 47% of British shoppers prefer to use credit cards to make payments when shopping online. 41% like to use PayPal.
Currently, there’re 45.36 million eCommerce users in the UK. An additional 4.06 million users are forecast to be do online shopping by 2021. Four years from now, the mentioned 49.42 million eCommerce users will spend 2,251.82 USD online (on average).
The overall UK eCommerce revenue across all product categories makes up 82.11 billion USD. It’s projected to account for 108.64 billion USD by 2021. Currently, fashion is the top product category in the UK. It accounts for 25.45 billion USD market share. Next come Toys, Hobby and DIY, with 17.46 billion USD in sales.
Author Bio: Electronic payments expert Taylor Cole is a passionate entrepreneur who enjoys to write, produce music, and travel. Bestpaymentproviders is the UK’s best company offering the cheapest merchant services, serving both traditional and high-risk merchants.