After the UK faced on-trade closure, the retail sector appeared in a difficult situation. And this isn’t only about the UK. This article will tell you about the surge in eCommerce and on-trade losses. Besides, you’ll know who can help you with a reliable and cheap high-risk merchant account in the country.
eCommerce Surge & Retail Fall
Thanks to the eCommerce channels, so many businesses are able to maintain their potential for growth. However, the dip in eCommerce sales, alongside with some other factors associated with the retail channel, didn’t allow the eCommerce sector to fill the gap caused by major losses in the on-trade.
In addition, eCommerce is becoming more and more associated with the ‘direct-to-consumer’ factor in the UK. When it comes to one of the hot-button topics, the alcohol, and beverage market, consumers in the UK are getting more conscious of over-indulging in alcohol at home. So, they’re expected to limit consumption.
A lot of physical stores haven’t yet opened their doors in the UK, and digital commerce helps retailers cover the losses to some extent. As of 6 May, there was a 27% surge in online sales in the country from the same period year-over-year. Besides, there was a 23% rise from the previous week.
According to Lovethesales, the world’s leading online sales marketplace, the highest sales numbers were found in the following categories during the 1st week of May:
- Kids clothes
- Luxury fashion
- Activewear
- Rainbow patterned clothes in honor of the NHS
- Snazzy face masks
- Dog jumpers
Surviving the Crisis: Getting a High-Risk Merchant Account UK
The 4 weeks ending April 18 witnessed a 10% rise in online sales in the UK. What about your own business in the UK? Have you been able to keep it afloat?
One thing is certain in these challenging times: you can’t do without a trustworthy merchant-services provider. To find one, turn to a reputable comparison company in the country. Make sure the comparison specialist is focused on how providers organize the integration process. Besides, see whether the comparison company pays special attention to terms and complaints.
So, eCommerce sales go on rising in the UK and just elsewhere in the world. And that’s with good reason: people are locked at homes and keep physical distancing, so they’re still ordering goods online. Even after the world overcomes the virus crisis, the trend is likely to be actual.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of merchant accounts, including a high risk merchant account. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie on his backyard porch, as should all right-thinking people.