According to a number of reports, global e-commerce spending for 2019 will reach USD 3.6 trillion. This represents an annual growth of around 18 percent.
That makes for a lot of zeroes. Beyond the immediate takeaway, that a lucky few are getting richer, this also means there is an incredible opportunity for businesses. Consumers are waiting out there, with cash to spend on your products and services.
However, you shouldn’t make the assumption they will do so automatically. It all depends on the payment options you present them with.
19 percent of the world’s online shoppers claim they abandoned their shopping carts because there were no suitable or convenient payment methods available.
I abandon the cart because my preferred payment method is missing
Source: Nimdzi Insights
Yes, online shoppers expect convenience. They expect speed. And they most certainly expect choice. With so many payment options currently available for online shopping, and with shoppers purchasing products and services from every corner of the globe, international merchants who pay attention to the payment method preferences in their target market will reap the rewards.
If not, you’re missing out on one fifth of your potential global consumer base.
Nimdzi Finger Food is the bite-sized insight you need to fuel your decision-making today.
