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 businesses.

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.