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Posts Tagged ‘sales’

Clearly, the more payment alternatives an online merchant offers buyers, the greater opportunity for increased sales.  Credit cards still remain the most popular form of payments to ecommerce merchants.  But, electronic checks are the fastest growing additional payment option for internet merchants. Ecommerce merchants of all types, including high risk merchants, can establish an merchant account for electronic checks.  A merchant must be located in the US or Canada for an electronic checks merchant account to be approved.

The vast majority of electronic check merchant accounts include the ability to do multi-channel payment processing.  Merchants can accept electronic checks on the web, by phone, fax, or mail. Adding electronic checks to a website is easy.  Integration is accomplished using an application program interface (API) and takes only a few hours to implement and test.

Internet Retailers Embrace Electronic Checks

Electronic checks are first choice for the next payment option medium and large online sellers plan to add (Cybersource.)

Online merchants with electronic checks as a payment option report 3-8% of their sales come from electronic checks, with at least half of that representing sales that would have otherwise lost (Cybersource)

23% of households do not have a credit card and 45% of consumers with credit cards are within 5% of their credit limit.  (Federal Reserve)

Over 200 million consumers write checks while only 80 million carry credit cards.  84% use personal checks as their primary method of payment (Federal Reserve)  Read more...

As a mobile phone retailer, your business involves promoting, marketing and selling the latest and greatest products released by telecommunication equipment manufacturers.  These products aren’t cheap and many of your consumers know it.  They are also quite handy and useful, which makes them a prime target for thieves and shoplifters.  Learn the ways you can secure your products, boost your sales and improve your bottomline.  Here’s how:

Use electronic security systems
There are many different types of electronic anti-theft systems that can help secure handy gadgets such as mobile phones.  These systems are especially designed for retail use, allowing consumers to experience the product without exposing it to unnecessary risks such as theft or damage.  

A good example of an electronic security system that mobile phone retailers can use is the EAS or Electronic Article Surveillance.  It is a type of security system that’s meant to secure small or portable electronic products.  It uses a radio transmitter to keep shop items secure within the parameters of the store.  

If any customer attempts to bring the mobile phone outside the store, the electronic device attached to the phone will trigger an alarm.  The device can only be deactivated upon payment, when the cashier or salesperson removes the security tag using especially designed equipment.  

An EAS system can also come with a light alarm, signaling the salesperson that a product was tampered with.  Read more...

The retail sector plays a key role in the U.S economy, not only because consumer demand is an indication of a healthy financial system, but also because retailers serve as large employers. Nearly 10 percent of the national workforce in the U.S. is employed in the retail sector, which provides both long-term career opportunities for young people and seniors. Retailing serves also as a side job when people look to switch between career objectives.

No surprises then why the retail sector is greatly affected by consumer spending. Retail sales are highly sensitive to liquidity and preservation of capital. However, the recent real estate slowdown, the increase in energy prices, the tight credit lines and the general market uncertainty, all have led to a general slowdown of consumer-driven economic growth.

Generally, consumer spending is the driving force of U.S. economic growth and consequently of the retail sector. How much consumers afford to spend determines the profitability of firms and the viability of economy. The factors that affect consumer spending in the context of retail sector are numerous. Some are related to long-term changes in consumer habits and some are a confluence of an economy in recession and depressed consumer confidence.  Read more...