Does e-commerce really matter to businesses?
If you own and operate a business yourself, you’ve probably asked yourself this question at least once before. Many small business owners aren’t so sure about adopting an online store where consumers can make purchases simply because there are so many risks involved — from purchasing secure payment processing solutions to figuring out a plan for card not present fraud prevention, it can get expensive and time-consuming if you manage a business and you’re trying to migrate into the world of e-commerce.
Nevertheless, it really is important to allow your customers to make purchases online and to protect your own business by making sure that you’re doing everything possible to catch fraudulent charges before they happen in your payment processing system.
But just why is e-commerce so important? Take a look at the following numbers, and then see what you think about bringing your own business into the exciting online shopping world:
- Two-thirds: The amount of American consumers, ages 50 and up, who have made at least one purchase online since 2014.
- 72%: The percentage of Millennials who do research online before buying a product, whether they intend to buy the product online or in-store.
- Three: The average number of online stores that a consumer will visit before actually purchasing an item or service.
- 200 million: The estimated number of consumers in the U.S. who will browse online stores by the end of 2015 to research a product and/or to make a purchase.
- 60%: Of consumers are concerned about security threats regarding their personal and financial information when they choose to make an online purchase using a credit or debit card.
Not only is it easier for consumers to find a lot of information in a short amount of time, but it’s possible to lose a customer within a matter of seconds simply because your competitors are so accessible. Even a small detail can make a difference, especially when it comes to convenience and security. More on this.