News
Stay up to date with CommerceGate news through our RSS Newsfeed
You can also follow CommerceGate on Twitter
Dont forget to sign up to our newsletter!
2010-07-28
Small businesses 'vital to stoke economy'
Small firms, many of which rely on an internet merchant account and direct debit payment processing, will prove "hugely important" in dragging the UK economy out of recession, it has been claimed.
Small firms, many of which rely on an internet merchant account and direct debit payment processing, will prove "hugely important" in dragging the UK economy out of recession, it has been claimed.
This is the view of Bytestart.co.uk director Emyr Williams, who claims that while there may be tricky times ahead for small businesses, the outlook is positive.
He said that cuts to the public sector will be "a drag" on the economy in the short-term, but this will result in a "healthier economy in the long-run".
"Small businesses are hugely important in driving the UK economy," Mr Williams said.
"As the bloated public sector is shrunk it's vital that small businesses are there to provide employment and stoke the engine of the economic recovery," the business website director explained.
He added that the early indications are that the new government is encouragingly pro-business.
The comments come after the Business Factors Index published by Bibby Financial Services found that most small firms (72 per cent) are positive about their situation, despite business output falling by 12.4 percentage points during the second quarter of 2010.
read more 2010-07-28
Shoppers start search online
The scope for retailers that accept credit cards online has been shown by new research that found two-thirds of shoppers begin their search online.
The scope for retailers that accept credit cards online has been shown by new research that found two-thirds of shoppers begin their search online.
Half of these consumers convert on the internet, using online payment processing to order their product without having to leave their home, according to research from comScore.
For most shoppers, the "path to purchase" starts by looking on search engines and retail websites.
On average, consumers consult an average of 4.1 information sources whilst looking for a product.
The ranking on a search engine listing is important, with shoppers associating relevance and quality with items at the top of search results.
For retail sites, the research found that shoppers believe that pop-ups and advertising is a minus, while pricing and product information should be displayed prominently and product comparison tools should be provided.
John Federman, president and chief executive officer of Searchandise Commerce, which commissioned the survey, claimed that retailers are getting providing better on-site search tools.
"Attaining top position in search results is key to winning a higher share of clicks and sales," he explained.
Online advertising is bucking the general marketing trend, growing by two per cent last year, according to eMarketer.
read more 2010-07-27
IMRG launch new service to boost online sales
Firms that accept credit cards online are the target of a new service launched to help boost online sales.
Firms that accept credit cards online are the target of a new service launched to help boost online sales.
The new IMRG programme will measure customer experience throughout the entire purchase process.
Called the Index of Customer Experience (ICE), the new service is designed to provide information from customers on how online retailers can make changes that will encourage consumers to repurchase and recommend then retailer to friends.
ICE, which is managed by IMRG partners Rebelati, will also feature an awards programme and newspaper supplement to help raise awareness of internet sales and online payment processing.
IMRG managing director David Smith commented: "This bold and original initiative supports our aims of helping individual performers raise their game and also boosting consumer confidence in online retailing."
He added that ICE will provide a "unique and consistent" yardstick to allow firms to develop their customers' experience.
IMRG and partner Capgemini recently released figures showing online retail is on the rise in the UK, with 20 per cent year-on-year growth reported in June.
read more 2010-07-27
Online payment processing sees Amazon profits rise
Online payment processing has seen Amazon report a strong second quarter to the year.
Online payment processing has seen Amazon report a strong second quarter to the year.
The online retailer reported sales during the second three months of 2010 were up on the same period last year by 41 per cent to $6.57 billion (£4.2 billion).
Included in this figure is the effect of "unfavourable" exchange rates, that knocked about one per cent of the total increase on last year.
Net income was also well up on the second quarter of 2009 - a 45 per cent rise taking the figure to $207 million (£133 million).
Amazon founder and chief executive officer Jeff Bezos said: "We're seeing rapid growth in Kindle, Amazon Web Services, third-party sales, and retail."
"We're also encouraged by what we see in mobile. In the last twelve months, customers around the world have ordered more than $1 billion [£650 million] of products from Amazon using a mobile device."
His comments chime with figures from IE Market Research that show online transactions from mobile devices will hit the $1 trillion (£650 billion) mark by 2014.
read more 2010-07-26
iPhones 'key to m-commerce'
Firms reliant on online payment processing may wish to take note of new survey that suggests iPhone users could be better customers than people with other smartphones.
Firms reliant on online payment processing may wish to take note of new survey that suggests iPhone users could be better customers than people with other smartphones.
Apple iPhone users tend to shop and buy more online than users of other devices, according to a new report from Yankee Group entitled Why iPhones Matter.
The report, based on research carried out in the US, found that the average iPhone user is 32-years-old and has household income of $100,000 (£65,000).
Owners of other smartphones have an average age of 34 and household income of $85,000 (£55,000).
"iPhone owners download more apps, are more interested in mobile transactions and conduct more mobile e-commerce," the report states.
The news comes after a recent study from IE Market Research suggested that m-commerce transactions will be carried out by 500 million people by the end of the year, rising to one billion by 2014.
By that date, mobile online payment processing and online direct debit payment processing is due to hit the $1 trillion (£650 billion) mark.
read more 2010-07-26
Courier firm's profits 'soar' as online retail grows
UPS, a courier service used by firms that accept credit cards online to deliver packages to customers, has announced strong quarterly figures.
UPS, a courier service used by firms that accept credit cards online to deliver packages to customers, has announced strong quarterly figures.
The firm announced quarterly operating profit for the second three months of 2010 of $1.4 billion (£900 million), up 57 per cent on the same period in 2009.
Adjusted earnings soared by 71 per cent on 2009 figures, driven by a 13 per cent rise in global revenue.
Much of the growth came from outside the US, with non-US domestic volume increasing by 24 per cent, driven by an acquisition in Turkey in 2009 as well as strong performances in core European countries and Canada.
UPS chairman and chief executive officer Scott Davis said the company had "fired on all cylinders" in the second quarter of 2010 in the face of a tricky economic situation.
"Substantial growth in our international segment continues to outpace the market. It's clear the strategic direction we've set for the company is proving successful," he explained.
The news comes as online retailers in the UK reported a record June, with sales up by 20 per cent on the same month in 2009.
read more 2010-07-26
AmEx profits soar
Profits from credit card processing carried out by American Express rose in the second quarter of 2010 to over $1 billion (£650 million), the firm has announced.
Profits from credit card processing carried out by American Express rose in the second quarter of 2010 to over $1 billion (£650 million), the firm has announced.
Cardmember spending was up 16 per cent in the quarter, contributing to the soaring profit take, which was well up on the $337 (£217 million) net income from the second quarter of 2009.
US Card Services reported second quarter net income of $522 million (£337 million), up from a $153 million (£99 million) loss made in the same period of 2009.
"Spending rose across all segments with the largest increases coming from corporate cards, cards issued by our bank partners, charge cards and premium co-brand products where many cardmembers tend to pay in full each month," explained American Express chairman and chief executive officer Kenneth I Chenault.
He added that the firm remains cautious over the economy and the "challenging" regulatory environment.
The news comes after Visa reported that the value of plastic transactions, such as online credit card processing or debit card purchases, was up by ten per cent in the UK in the second quarter of 2010 compared to the same period in 2009.
read more 2010-07-23
Online clothes sales 'boosted by sunny days'
Online payment processing is helped by sunny weather, it has been claimed, after online clothes sales were up 22 per cent year-on-year in June.
Online payment processing is helped by sunny weather, it has been claimed, after online clothes sales were up 22 per cent year-on-year in June.
This is the view of Verdict Research retail analyst Sarah Peters, who said that the good weather meant people wanted to update their wardrobes for the summer.
She said that this, coupled with a desire to not spend sunny days trudging through shops, resulted in the bumper June for online retailers.
"We saw some really good weather in June as well, so while people obviously need to go out and buy summer clothing, they probably want to spend less time out there actually shopping," she said.
Ms Peters added that buying online is a quick and easy way of getting summer clothing without having to spend any precious free time in shops.
Online clothes sales rise of 22 per cent on last June was slightly above the average e-retail increase of 20 per cent, according to the latest IMRG/Capgemini figures.
read more 2010-07-23
Online video advertising 'should be targeted'
Online video advertising, an increasingly important element for firms that accept credit cards online, needs to be targeted at a particular audience, it has been claimed.
Online video advertising, an increasingly important element for firms that accept credit cards online, needs to be targeted at a particular audience, it has been claimed.
This is the view of Web TV Enterprise managing director Jamie Estrin, who says that the online video advertising sector "is going on an upward curve".
He was commenting on the latest figures from eMarketer that showed unprecedented growth in the industry.
Online advertising as a whole grew by two per cent last year to $55.2 billion (£36.2 billion), going against the general trend seen in the mainstream media.
"Targeting has got a lot better; young people engaging with linear TV are still seeing advertising and brands that are not relevant to them," explained Mr Estrin.
"Because the web has so many niche content areas, the targeting opportunities are greater than there are in other mediums."
According to eMarketer, online advertising is expected to resume double-digit growth and reach $61.8 billion (£40.5 billion).
read more 2010-07-23
Couples 'have more disposable income'
Retailers with internet merchant accounts may want to target couples with their advertising, after research shows single people tend to have money to spend.
Retailers with internet merchant accounts may want to target couples with their advertising, after research shows single people tend to have money to spend.
Over an entire lifetime, single people end up paying more than £250,000 extra on essential living costs than somebody who lives as part of a couple, according to new research from uSwitch.com.
The report found that singletons in the UK have an average of £4,794 less money to spend on goods online after things like housing costs, essential bills and food are taken out of the equation.
Mark Bower, managing director of price comparison website moneymaxim.co.uk, is in no doubt that single people have less disposable cash for buying things online.
"There are more costs upon items such as their homes and their mortgage. They probably have their own car, rather than a car [shared with] the family, and they can end up spending a bigger proportion of their income as a result," he explained.
read more Back to top
View all
