It has been almost a year since the World Health Organization (WHO) declared the COVID-19 pandemic, which has brought great challenges for the economy, but opportunities can also be created. E-commerce is a strategy that can no longer go unnoticed by companies, since it is the basis of sales in this health contingency.
PayPal, the digital payments platform, shares that e-commerce grows around the world, so today cross-border sales represent a market opportunity estimated at 412,000 million dollars, according to the Ipsos MORI PayPal Insights 2018 study.
Worldwide, online sales have increased 17%, according to Ipsos MORI PayPal Insights 2018, a figure that is exceeded in Mexico by reaching 21% annually. Also, in this country it is estimated that 91% of consumers who make purchases online, spend $ 1,504 per capita per year, on average, according to Ipsos MORI PayPal Insights 2019.
This clear trend towards online shopping can be taken advantage of by companies, but there are four key points they should consider:
-Decreases the risk of external impacts.
You can offset the risk of your physical store by boosting online sales, so you can also reach further out of your city and state. PayPal can help you at this point, as it has more than 377 million active users around the world.
In Mexico, 48% of people who buy online do so on social networks such as Facebook and WhatsApp, the Ipsos MORI PayPal Insights 2019 report exposes. It is also important to highlight that more than 75% of online consumers buy with their cell phone states the Ipsos MORI PayPal Insights 2019 study. With this data you can further define your strategy.
-Optimize online sales channels.
This will facilitate purchases in your online store. For this, PayPal offers credit and debit card payment schemes, and you can accept payments in more than 100 currencies.
When consumers are comfortable with the benefits of e-commerce platforms, they tend to buy and spend more.
On the other hand, 45% of online consumers in Mexico like to pay with a card, while 17% use digital wallets, according to JP Morgan 2019 Payments Trends – Global Insights Report. This reflects that the market is increasingly digital.
– Protect yourself against online fraud.
In addition to the preferences and ease that consumers can have when buying, there is the issue of security in their transactions.
Cybersecurity Ventures estimates that online scammers could steal $ 6 billion during 2021, worldwide.
You can learn more about how an online store can help you grow your business in this one.
