More consumers want to shop in stores this year. So, it’s no surprise that the overall retail sales grew by 14% in November 2021 as compared to the same period in 2020. On the other hand, people also want to shop in physical stores. This article is about the busy balance of this year’s holiday shopping season and how you can obtain the best retail merchant account for your eCommerce business.
Busy Balance of Holiday Season 2021: Research Results
Retail sales in November showed that shoppers returned to stores and also made purchases online. The numbers were record high, as the National Retail Federation (NRF) reported. The NRF predicts that retailers should expect record gains of 8.5% – 10.5% from the previous year.
Deloitte reports that 11.5% of Americans aren’t going to buy any gifts this holiday season, and wealthy consumers are going to spend more. Another survey shows that BOPIS (buy online, pick up in-store) and BOPAC (buy online, pick up at curbside) options are getting more popular.
As shoppers love flexibility, they’re more likely to make purchases or pick up orders in-store on weekdays, which can’t be said about the other times of the week.
Online Holiday Shopping: Best Retail Merchant Account
In 2020, more than 2 billion people bought goods or services over the internet, and e-retail sales accounted for more than 4.2 trillion U.S. dollars around the globe. You can’t do without leveraging modern retail technology to meet shoppers where they are and provide them with flexible services.
The last couple of years have proved the fact that online shopping is now the go-for method of commerce. And COVID-19 has accelerated this tendency. When it comes to shopping in brick-and-mortar stores, people choose in-person shopping because they what to see, feel, and handle the product they’re purchasing.
You can obtain the right merchant processing service, including the best retail merchant account, for your eCommerce store by working with a reliable payment comparison specialist. A reputable comparison company that’s focused on terms, complaints, and integration services, can help you get quick access to the latest, safest and cheapest payment processing solutions in the industry.
Holiday Shopping Season 2021: Balancing Out
More people are back to stores during this holiday shopping season. On the other hand, online sales for November revealed growth. A percentage of shoppers won’t buy holiday gifts this year. Wealthy shoppers are willing to spend more. This will create a balance in retail sales this holiday shopping season.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of the best retail merchant account. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie with ice-cream on his backyard porch, as should all right-thinking people.