Global online sales to reach GBP 283 trln in 2017

According to Total Processing, retail sales worldwide are going to rise from GBP 1,007.49 trillion in 2015 to GBP 1,905.51 trillion in 2019. In 2017, retailers are forecasted to see GBP 1,445.40 trillion. For 2017, ecommerce is predicted to reach GBP 107.18 trillion (7.4%), as for 2019, online sales will amount to GBP 167.66 trillion (8.8%).

The ten most popular shopping sites are Amazon, eBay, Walmart, Target, Flipkart, Alibaba, Best Buy, Groupon, Shop.com, IKEA.

The average rate of shopping cart abandonment is 68.63%. A quarter of this percentage is due to concerns about payment security and long confusing checkout  forms.

Another seminal issue on gaining more revenues from ecommerce is related to an improved payment gateway. For FY 2015, the total online retail sales worldwide would have increased by GBP 5.5 million if a better payment gateway had been integrated with the shopping websites.

A performant payment gateway should give customers a wide array of payment options, provides many transactions enhancing tools so that merchants could expnad their business, offers strong risk management and fraud containment activities, and lets the merchants keep up with the changing online transaction environment.