Latest Data Reveals eCommerce Sales Jump 87% In July
COVID-19 has affected both eCommerce and brick-and-mortar companies, as well as B2B and B2C brands. Consumers making purchases in July chose more home-based products, as well as items related to outdoor activities. As a result, there was an 87% YoY (year-over-year) rise in sales for the mentioned month. This article will tell you more about the increase in sales and help you with the best merchant account in the UK.
eCommerce Sales On The Rise: Best Merchant Account UK
Consumers went on making purchases online in August. The sales were significantly higher as compared to the same period in 2019. Recent research in the field reveals that the consumer journey will no longer be the same.
Signifyd data shows that global eCommerce sales rose by 46% in March as compared to 2019 and reached their peak at a 126% YoY (year-over-year) increase in May before getting back to 87% YoY growth in July.
Given the recent changes and developments in the eCommerce industry, you should pay special attention to the strategy you’re applying for growing your eCommerce sales. First of all, you need to use reliable, secure, and cheap merchant processing services, including the best merchant account for your own business needs.
This can be more than possible if you turn to a reputable merchant services comparison expert in the UK. Make sure to get the most reliable review of merchant account providers at the time of writing.
UK eCommerce Sales
The UK, the 3rd biggest eCommerce market around the globe, witnessed over 108% rise in food-related online sales in stores as compared to July 2019, according to the Office for National Statistics. Household goods stores saw a 79.3% increase.
Did you know that 15% of the UK companies have introduced new roles to meet the increased demand in online sales, as Barclays Corporate Banking reports? By the way, over 26% leaders believe COVID-19 has made the technological revolution in retail faster.
The Edge Retail Insight analyses show that the growth in online shopping because of COVID-19 is anticipated to add £5.3 billion to the UK eCommerce sales in 2020. This will account for a total of £78.9 billion.
As you see, online shopping activity has significantly grown during the last months because of COVID-19. This trend isn’t going to disappear. So, choose a reliable merchant processor to work with.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of merchant accounts and can help you with the best merchant account in the UK. 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.