E-Commerce has gradually worked its way into the fabric of our everyday lives. Many shoppers do not fully comprehend the vast numbers behind E-Commerce, or how it all began. Consumers are able to buy almost anything they desire online. The average U.S. consumer spends roughly $1300 a year purchasing items on the Internet. Industry projections state by the year 2016; Americans will spend an average of more than $1700 a year buying items online with a combined sales total of an estimated $327 billion.
Michael Aldrich created online shopping in 1979. He combined an altered television set with a landline phone, and E-Commerce was launched.
Pizza Hut was the first restaurant to offer online ordering in 1994. A credit card account could be used to pay for orders.
More than 70 percent of all consumers believe they are able to find a better deal online compared to a traditional store.
Online sales exceeded $200 billion in 2012. E-Commerce will increase to 9 percent of all purchases in 2016; up from 7 percent in 2012. The average online shopper spends upwards of $1300 a year on Internet purchases.
Amazon began in 1995, but did not achieve profitability until 2003. The average Amazon order was $47 in 2012. Amazon allows customers to use their personal credit card account for payment, and they offer their own branded credit card.
Online E-Commerce sites that force shoppers to register lose 26 percent of their total sales. An increasing number of E-commerce stores allow a shopper to purchase items without registering with their website. This helps reverse the trend of abandoned shopping carts.
France has the lowest amount of Internet shopping in the world; India has the largest global online shopping market and growth.
In 2004, Blockbuster launched the first DVD rental program online. Netflix and Redbox came later, but the two companies have led many to speculate on their contribution to Blockbuster’s demise.
PayPal transactions occurred at a record $4,423 per second during 2012’s third quarter.
Social media referrals to Zappos’ result in a per order amount of $0.75 from Pinterest, $33.66 from Twitter and $2.08 from Facebook.
More than 45 percent of all online shoppers consult social media websites before making an online purchase. The consulting firm, Booz and Company projects that sales stemming from social media will grow by 93 percent by 2016.
In 2010, Google offered Groupon a six billion dollar buyout offer. Groupon turned the money down and took the company public in 2011.
The five year span from 2011 to 2016 will result in a 15 percent increase in Americans shopping online. The result will bring the number of Americans shopping via E-Commerce to 192 million people.
eMarketer released a report stating that a global explosion in mobile payment acceptance is coming. eMarketer reviewed a number of research findings to project that mobile payments will grow to an estimated $640 million by 2016. The U.S. alone will process more than $62 billion in mobile payments within three years. Mobile payment usage is expected to exceed 48 million users by 2016; an increase from a current user base of 7.9 million in 2012. Merchants who are considering accepting credit cards online first have to figure out how to set up so they have secure access to customer credit card account for payment. The first step is to sign up for merchant account services.
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