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Wednesday, 25th January 2012, 14:07:46
Ecommerce merchants 'expect significant growth in 2012'
UK ecommerce businesses expect to see significant growth in 2012, a new report suggests.
Online payment processing company CyberSource's UK Online Fraud Report 2012 showed that 73 per cent of merchants predicted growth in online revenues.
The publication said that there is "little prospect of decline" for the UK's online sellers.
Andrew Naumann, CyberSource senior business leader for fraud management solutions, commented: "The continued growth in ecommerce is a welcome development for merchants and the economy overall.
"The bad news is that fraudsters took in a higher dollar volume."
CyberSource's expert suggested that many online retailers are working harder than ever to keep their levels of fraud in check and to increase their customer satisfaction.
Figures from the report also showed that the travel sector is expecting an 11 per cent growth in revenues, while the digital media industry is expecting to see an even greater increase of 33 per cent over the next 12 months - the highest of all sectors surveyed.
Akif Khan, director of products and services at CyberSource and co-author of the report, said that the mobile channel presents a real opportunity for merchants, with 38 per cent of them now offering a dedicated mobile website and 26 per cent having their own app.
He explained: "With interfaces often streamlined to make mobile commerce simpler for the user, the fraud risks on mobile channels are different and still need to be properly understood."
Overall, the largest businesses have the most conservative forecasts for growth, with companies who turn over more than £25 million from online channels predicting average growth of 18 per cent. Smaller businesses, with turnover of less than £500,000, expect to grow by 35 per cent during the next year.
Ashish Gupta, senior managing director and co-founder of high growth technology investor Helion Ventures, told Forbes India magazine that the success of ecommerce has surged in the past two years and businesses have continued to adapt their services to the online consumer market.
Posted by Phil Williams
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Categories: | Ecommerce |
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