The coronavirus outbreak has resulted in the accelerated growth of the global eCommerce sales. On the other hand, it’s hurting already struggling brick-and-mortar businesses. If need more information about the sector, just follow the lines below.
eCommerce Sales on the Rise
Covid-19 has create an unprecedented situation all over the world and continues to bring about immense changes in the global eCommerce field. Only 14% of UK marketing campaigns are working as planned.
As of 31st March, about 86%) of the marketers in the UK are now delaying or reviewing their marketing campaigns. This percentage was 55% on 16th March.
Let’s look at some figures. According to the UK’s online retail association IMRG, during 22-28 March, the number of shoppers making purchases online showed an upsurge Specifically, For the week starting March 22, the overall a YoY (year-on-year) online sales increased by 0.6%, as compared to -0.2% in the previous week.
The rise in sales during the crisis is mainly in the so-called “essential” and DIY (do-it-yourself) areas. Thus, the sales of fashion, clothing, and luxury products have declined.
What about your own business? Are you searching for reliable and affordable merchant services to grow your eCommerce business or take to the next level without major challenges? Just work with a trustworthy merchant-processor comparison specialist in the UK that’s dedicated to offering the most advanced and cheapest merchant processing services to grow eCommerce sales.
Consumers & Retailers During the COVID-19 Crisis
Amazon hired 100.000 new employees in March to be able to meet the increased demand of orders. Now, the eCommerce giant is hiring 75.000 additional temporary workers.
On the other hand, fraud is also growing as fraudsters are taking advantage of the growing number of people entering the online space. Merchants are already reporting dramatic surge in the coronavirus-related phishing activities. Stolen credentials are being released into the eCommerce payments chain. What’s more, friendly fraud is also growing these days.
As you see, the pandemic is making eCommerce sales grow all over the world. It’s no surprise as the quarantine has locked millions of consumers worldwide, thus forcing them to purchase goods, services, and entertainment over the internet.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of merchant accounts. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie on his backyard porch, as should all right-thinking people.