The expansion of eCommerce towards new companies, customers and new types of products got accelerated because of COVID-19. eCommerce online sales worldwide reached 71% YoY (year-over-year) for the 2nd quarter, as Salesforce reported. This article sheds light on the topic and the best merchant services in the U.S.
eCommerce Expanding: Best Merchant Services U.S.
The number of people making purchases over the internet instead of going to brick-and-mortar stores has grown to an unprecedented extent. Why? Well, because of COVID-19. And this is quite logical: stay-at-home orders amid COVID-19 resulted in an incredible rise in eCommerce sales almost everywhere in the world.
During Q2 this year, global revenue from online sales reached a record high number in the U.S. and not only. In the U.S., the eCommerce total retail share slowly grew between Q1 of 2018 and Q1 of 2020. More specifically, it increased from 9.6% to 11.8% and jumped to 16.1% between Q1 and Q2 this year.
With that being said, you can’t ignore the importance of using the best merchant services in the U.S. to get out of the current situation and move your business forward with success. For this, you just need to work with a respectable merchant processor in the U.S. dedicated to offering the safest, most advanced and cheapest credit card processing solutions.
To figure out what processor is the right choice for you, turn to an expert payments comparison company in the country. Make sure the comparison specialist gives special attention to rates, terms, and integration requirements of merchant processing companies.
COVID-19 Resulting in eCommerce Sales Boom
eCommerce, B2B, B2C, as well as brick-and-mortar companies are facing the impact caused by COVID-19. According to about 9 in 10 decision makers, new commercial and go-to-market sales practices are expected to be present throughout 2021 and not only.
As experts forecast, the rise in eCommerce sales won’t stop after the lockdown is over. Moreover, they predict that it won’t be easy to meet such demand. Based on a recent survey in the field, 39% of consumers plan to purchase the things they used to buy in stores over the internet.
So, the COVID-19-related crisis is making eCommerce expand faster towards new companies, customers, and types of products. This process is going to involve a long-term shift of eCommerce transactions.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of the best merchant services. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie with ice-cream on his backyard porch, as should all right-thinking people.