The COVID-19 crisis has resulted in record-high numbers of eCommerce sales not only in the UK. While the world is faced with the COVID-19 economic crisis, some retail companies have had record sales. If you’re interested in the eCommerce sales increase in the UK and want to get fast and easy access to a high risk merchant account UK, you’re at the right place.
UK eCommerce Boom During the Pandemic
The lockdown has created an unprecedented situation for consumers and businesses worldwide. Purchasing behavior is changing all over the world, and brands are looking for ways to stay alive or continue to grow.
eCommerce witnessed an 83% year-over-year increase during the 1st 2 weeks of April 2020, which has been the most substantial growth since the outbreak of COVID-19. The 1st week of March saw moderate growth in online sales. Revenues rose during the 2nd half of March when people were ordered to stay at home.
Overall, the sales revenue in the online retail sector rose in March 2020, with the following categories seeing the highest increase:
- Toys and games, which have had the largest growth (by 341%,)
- Next, come food and drinks (by more than 200%)
- Tobacco and vaping (by more than 200%)
COVID-19 Economic Crisis: High Risk Merchant Account UK
Given the current situation all over the world, online retailers can’t do without building the right strategy for growth. So, working with a trustworthy and experienced merchant-services provider has become even more vital.
To find a reliable provider, turn to a respectable comparison expert of merchant services. Make sure the comparison company pays special attention to terms, complaints, and integration, as well as guarantees the most unbiased review of merchant-services providers at the time of writing.
To reach success, you need to have the right marketing tactics in place that can help you deliver ROI (return on investment). In addition, it’ll help you enhance customer experience and build loyalty in the world that’ll follow the pandemic.
Emarketer reported that global eCommerce sales were forecast to account for $6.54 trillion in 2023. Now, when the world is facing a new reality caused by the pandemic, the growth will increase with more rapid advances. To keep up with the latest trends in eCommerce, find a reliable merchant-services comparison specialist to work with.
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 UK. 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.