The Verifone Best Practice Guide to e-Commerce

Setting the Scene In Britain e-Commerce is booming, with more than 70% of the country’s shoppers using online services. On average e-shoppers buy £1,083 worth of goods per head annually. This is three times more than Europe’s next largest market – Germany. This year, Brits will spend over £87 billion over the web, with food (up 27% on 2014) and fashion (up 15%) being the most popular online purchases. This spend is predicted to rise to £113.75 billion in 2016. With 10% of all retail sales now online, the boom has created amazing opportunities for retailers and merchants large or small. But, the continuing speed and complexity of change also presents an incredible challenge, too. As consumers switch their buying patterns to using tablets, mobile devices and even armchair ‘smart television’ purchases, it means retailers must develop ever more sophisticated multi-channel solutions. Now, 5% of all e- Commerce revenue is generated on mobile devices and more than a fifth of adults visit retail sites on their smart phones. The UK is leading Europe in facing the explosion of different payment methods, new types of currency and expanding demands for cross border transactions. Alternative payments account for more than 11% of all on-line transactions and half of these are through PayPal. This eBook offers the latest e-Commerce guidelines to ensure online retail success: