Although statistics show that online sales grew 24% since 2010, this number hasn’t been felt in every country. Canadian internet users only saw a 4% growth. Why the gap? Yahoo Finance explains that Canadian websites often lack the necessary online payment processing options that would enable consumers to buy items through their website.
They point out that addressing the e-commerce problem isn’t just about sales. “E-commerce in Canada should not be about making the cash register ring more often, but creating the kinds of relationships with consumers that extend well past the [purchase].” Has the time come to get your company in line with others that are working the eCommerce market? Here are three more reasons you should re-consider how easy it is for customers to use your site to make purchases.
1. Consumer Preference
Did you know that, according to Comscore statistics, 56% of customers would like to see multiple payment options when they get to an online checkout page? It’s important to keep customer preference in mind, because a comfortable customer is one that completes a purchase. According to statistics by WorldPay, 22% of global e-commerce transactions are alternative payments. When customers can’t pay with their preferred payment method, they often leave rather than switching.
2. Security
Especially after recent scares by companies like Target, consumers are worried about the safety and security of their payment information. Having a secure payment processing solution can help re-assure them that their data is not going to be lost or stolen. Reiterate during the checkout process that their payment will be both private and secure.
3. New Model of Retail
If you have a real store in addition to your online storefront, you might assume that this is where the bulk of your sales will be, so why bother with online options to accept credit cards that only cater to a small percentage of your customers? The truth is that you are ascribing to the old model of business, even though many customers are engaging in what is known as the “omni-channel” of shopping, in which consumers approach the store through a variety of ways, and might engage in finding information through multiple channels. Someone might check a website before going to a store, or contact the store through social media first.
Do you accept credit cards online? Let us know in the comments. Find out more here: www.bnasmartpayment.com
