E-commerce is the fastest growing retail market in Europe and North America. Forecasts suggest online sales in 2016-17 will increase a further 16% in key markets in Europe, totalling 215billion Euros. Now, this not only opens the opportunity for new markets but also to increase sales significantly. So how do you set up for online purchasing?
Be Card Ready
It goes without saying, any business looking to succeed online need to be in a position to accept card payments at all times. Setting up e-commerce pay points and checkouts online, which are automatically hooked up to physical stores, locations and inventories is a major step in getting a business to where it needs to be online.
Think About Promotion
Once a site is ready it needs to be promoted. This can be done on things like Facebook and Instagram, with voucher codes offered for new sales. Locally targeted campaigns can also be a great way to capture a targeted audience – ideas for this would include donating products to charity events, sponsoring local teams or building contacts in the local papers. If you’re thinking of spending a little more money on advertising, consider advertising options on all of the above.
Think About Budgets
It goes without saying that a budget needs to be considered, and if needed where external investment will come from. A merchant cash advances are an option for those taking over £5,000 in card payments already. External investors willing to put cash into a business for a percentage of ownership are also a consideration worth noting if you are happy with external parties being part of your business.