More consumers than ever are purchasing products and spending their income at online credit card payment processing pages – illustrating to small businesses how important it is to sell items via e-commerce websites.
Very few e-commerce websites, however, are likely finding the same success that Wal-Mart is. That company recently announced that its global online sales increased by roughly 30 percent during the last fiscal year alone – accounting for approximately $10 billion in revenue. Further, the company expects that the sales will continue to increase, and projects that as much as $13 billion in revenue will come from online sales during the coming year.
“We will continue to grow our global business by focusing on customers and serving them how they want to be served,” said Doug McMillion, CEO of Wal-Mart, according to USA Today. “And we’ll focus on being even stronger item and category merchants, delivering value and improving our service levels. We’ll remain focused on our expense structure, and innovate to improve productivity and aid our ability to deliver everyday low prices.”
McMillion emphasized global online sales as one of the company’s strongest sectors currently, according to USA Today. Additionally, Internet Retailer reported that Wal-Mart’s U.S. same-store sales declined by 0.4 percent during the same fiscal year. This suggests that retail sales are trending downward in a generalized sense – but that the growing profit potential offered by online payment processing pages to retailers could offset the losses experienced at brick-and-mortar locations.
Wal-Mart isn’t the only retailer finding success online
Another recent report, however, suggests that it’s much more than just Wal-Mart selling products to consumers online. The latest Custora Pulse Report noted that e-commerce sales had increased by 8 percent year-over-year during January 2014. The same report also noted that overall retail sales were down by 0.4 percent during the timeframe – further bolstering the belief that online credit card payment processing equipment is necessary for small businesses hoping to fight off an overall decrease in consumer spending.
Custora also reported that traffic to e-commerce websites trended upward during the same timeframe, increasing by roughly 6 percent year-over-year. Average order value increased as well, as did both conversion rates and sales made to consumers accessing payment processing pages via mobile phones. Overall, Custora reported that there was a 7 percent growth in orders made online by consumers year-over-year.Back To Blog