Offline SMEs to lose out on £88bn this Christmas
With record amounts of Christmas shopping expected to be done online this year, small retailers that lack an e-commerce site could be missing out on billions of pounds’ worth of sales.
According to Sage Pay, 90% of UK SMEs do not have an online presence, preventing them from capitalising on this growing trend, especially in the run-up to Christmas.
In particular, they miss out on the growing popularity of Cyber Monday, a marketing concept imported from the US in which retailers offer internet deals on the first Monday after Thanksgiving (the official start of the “holiday season”). Cyber Monday is planned for 1st December this year.
“With record online spending predicted for Christmas 2014, it’s never been more important for small businesses to be online,” said Simon Black, CEO of Sage Pay.
“Most larger retailers are already preparing themselves for Christmas, and if independent merchants want to capitalise on consumers’ confidence, they need to follow suit and begin preparing too.”
He added: “That starts with making sure your website and payments systems are optimised for the high volumes of traffic experienced on Cyber Monday.”
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