Global ecommerce platforms to see sales of $1.915 trillion in 2016

New research has shown that total sales made worldwide on ecommerce platforms will reach $1.915 trillion this year.

The research, carried out by E Marketer, shows that total global sales will rise 6% from last year’s figures, increasing to $22.049 trillion over the year. Sales received through ecommerce platforms will make up 8.7% of total retail spend across the globe.

The findings show that the growth of overall retail sales is slowing, however the number of purchases made online is rapidly increasing. In 2016 alone, online sales are expected to increase by a huge 23.7%.

This rapid expansion in digital sales is set to continue, with forecasts that purchases made via ecommerce platforms will increase to $4.058 trillion in as little as four years. It is expected that consumers around the world will make use of online shopping opportunities more frequently, with predictions showing that online sales will make up 14.6% of all retail income in 2020.

Having an online presence, and allowing customers to make purchases over the internet is becoming increasingly important for independent businesses. Consumer expectations are growing, and advancements in technology mean that they now expect to be able to shop on demand, 24 hours a day. If independent businesses make use of a website, their customer base can widen and lead to a massive increase in sales.

Handepay provide ecommerce platforms designed with independent businesses in mind. With free integration and technical support from a dedicated UK team, we provide a cost effective and simple way to take payments online.

If your business is already using ecommerce on your website, why not see if you could reduce costs by switching to Handepay? Have a chat with one of our friendly advisors, and find out how our ecommerce platforms could help your business.

Financial disclaimer:

Terminal hire contracts are provided by Merchant Rentals Limited, who is authorised and regulated in the UK by the Financial Conduct Authority (FCA) for Consumer Hire under FRN 720500. Terminal hire can be for consumer hire and non-regulated hire contracts. Please check your contract carefully for details. Regulation of all consumer hire fall under the control of the FCA.

Handepay Ltd is authorised and regulated by the FCA for Consumer Credit under FRN 673564. Handepay is a credit broker for consumer hire not a lender.

Handepay acts as an introducer of card acquiring services on behalf of EVO Payments UK, the card acquiring service provider. EVO Payments UK is the trading name of EVO Payments UK Ltd, a payment institution that is authorised and regulated by the Financial Conduct Authority (FRN number 959332).

Existing Cards Businesses- The one-month rolling terminal hire contract from Merchant Rentals is only available to businesses that are switching from their current acquirer to EVO Payments UK arranged through Handepay.

New to Cards Businesses- The 12-month terminal hire contract from Merchant Rentals is only available to businesses that are new to card payments and wish to receive acquiring services from EVO Payments UK, arranged through Handepay.

The Next Day Banking Settlement service provided by EVO Payments UK incurs an additional fee of £4 a month on top of your acquiring service charges and fees. Provided your card machine performs a reconciliation before 12am (midnight), you’ll receive settlement of funds the next banking day.

Editorial disclaimer:

The information we provide does not constitute financial advice and might not apply to your business. Always carry out research into your business’ needs when choosing a new merchant services provider.

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