TRENDS AND SIZE OF THE ECOMMERCE
ECIGARETTE MERCHANT ACCOUNT MARKET
Today, the internet is viewed as a
market that covers the whole world’s
population. This is the primary reason
why ecommerce or electronic commerce is
attractive for most of the traditional
Electronic commerce is nothing but
selling and buying of service or
products using electronic systems like
internet or other networks. The number
of transactions done electronically has
grown exponentially over the past few
years. A large variety of ecommerce
products exist such as automated data
collection systems, automatic inventory
management systems, electronic data
interchange, online transaction
processing, online marketing,
e-marketing, supply chain management and
electronic funds transfer.
Today, there are more products available
to buy on the internet that in the real
world ranging from flowers to a truck.
The ecommerce market of today is large
and is still growing.
One main advantage of this market is
that it is completely democratic. The
only rule that applies here is “if you
sell, you can win else you will loose”.
It is all about how effective you are
marketing strategies are and rules about
demand and supply. The ecommerce market
has matured so much that there are a few
products which can be sold only on the
internet. Certain products can be sold
in both ways but are more suitable for
the net like financial transactions,
photography, software, communication,
education, movies, music and digital
products. PayPal e-bay, Google and
amazon.com are few of the biggest
ecommerce traders today. However,
products such as clothing and
automobiles are more suitable for the
traditional sales because they should be
tried before purchasing. Even so, the
online clothing market is a huge
business in the United States.
According to official reports the size
of the ecommerce market in Europe in
2006 was 106 billion dollars. According
to analysts it will increase at a rate
of 25% per year for the next few years.
At this rate the online trade will reach
to 323 billion dollars by the end of
2011. Germany, France and Britain are
some of the biggest players in the
European market. These countries account
for over 72% of the above given figures.
The European ecommerce business is going
to expand rapidly due to the emergence
of countries such Spain, Holland and
Italy in this trade.
A large variety of services and goods
can be sold on the internet. The largest
piece of this pie is held by the IT
sector. The share of niches like
finance, travelling and instance is also
unexpectedly high. Financial services,
tourism, software and hardware,
computers and real estate are on the top
of this list.
One of the most important factor's that
is very conveniently overlooked by most
ecommerce managers is: Payment Options.
Your customers will not put any extra
effort to pay their bills. Therefore,
you need to have convenient options for
them to pay. Also, having more than one
payment option is more advantageous.
Some of the payment options that should
be made available are credit card
payments and echecks.
Contact one of our helpful account
representatives to assist you in the
setup of a
high risk merchant account or
offshore merchant account for a
high risk merchant.