Online Sales due to explode like a cracker this Christmas
Last week we wrote about the need for ecommerce businesses to prepare now for the Christmas shopping bonanza on its way. The size of online spending over Christmas won’t be known until after the event, of course, but if the latest forecasts are anything to go by it will only be disappointing for those ecommerce businesses who haven’t prepared well.
Through the whole of 2013 consumers spent £91 billion online. £11 billion of this came in the Christmas period. IMRG has forecast 2014 sales will grow by 17% overall, while SagePay has predicted online Christmas sales will rise by nearly 20% to top £13 billion.
In August, eBay is expected to have received around 2.7 billion searches using the term ‘Chirstmas’.
SagePay’s CEO has said, “With record online spending predicted for Christmas 2014, it’s never been more important for small businesses to be online,” said Simon Black, chief executive of Sage Pay. “Most larger retailers are already preparing themselves for Christmas, and if independent merchants want to capitalise on consumers’ confidence, they need to follow suit and begin preparing too.”
Flipkart Closes Payment Gateway
In India, Flipkart has become the latest victim in a highly competitive payment gateway market. Saying it has failed to attract enough customers, it is closing its PayZippy payment gateway, though it has simultaneously made an investment in ngpay, a payment service which concentrates on business through mobile apps.