Why Shoppers/Customers use more debit cards on E-commerce Website?

The debit cards are continued to be the most preferred payment instrument for the customers or the shoppers on every e-commerce website, as per the reports of FSS (Financial software and system). 

As per the reports of Payment trends, around 589 million debit card transactions were reported on the FSS gateway as compared to the 20.14 million credit card transaction done by last year (2018). In terms of value, the credit cards are more ahead at $10 billion higher rate as compared to the slightly less than $8 billion for debit cards.

For the trend report, it has been calculated that the merchant payments done digitally which are being processed by the e-commerce platform are not including peer to peer payments. 

Rajagopalan, who is the president of software products business at FSS, the overall transaction has also been increasing which is a healthy sign, driven by strong growth in debit card transactions. While the cards have been dominated the merchant payments space, more than 900 million transactions were done through Unified payment interface in the year 2018.

Importance of Debit Cards

While buying online or standing in front of the payment terminal at the checkout line, shoppers need to choose the payment method such as debit card, credit card, PayPal check, etc. All these depend entirely on the location and the context of the transaction. 

In the recent study of 1000 consumers who carry both the credit and the debit card, around 50% shoppers prefer to use the debit card and only 31% of the shoppers use the credit card for payment option.

The debit cards are quite useful for the everyday expense when purchasing grocery items, household items from an e-commerce platform. There is a widely-held feeling which should not pay later for the groceries to be eaten today, it may be the habit- it was not long ago we all used cash or wrote a cheque to buy grocery items, but these two sources (cash or cheque) have given the way to debit cards usage. 

The general consensus of the using debit card helps the cardholder to manage their personal budgets for everyday expenses like gas bills, grocery, household bills, etc.

As per the reports, Visa has the highest share of transactions with 47.5% of the card swipes that are being followed by Master card at 35%, and RuPay at less than 16%. 

The average amount for the transactions by debit card is $13.4 as compared to the credit cards which is $54.4. Since past 2 to 4 years, the average ticket size of the debit card transactions has come don that shows the consumers might ensuring the digital payments for even small purchases like online food ordering, grocery items, etc.

For more details regarding e-commerce development services or create an e-commerce website, you can directly get in touch with us at Buyyourkart.com.

How to digitalize and personalize your Retail business?

How to digitalize and personalize your Retail business?

Do you know that online shopping represents less than 12% of the total retail spending? Even though e-commerce is increasing at an exceptional rate, all thanks to the e-commerce development services, still one really gets surprised at this disparity. There are various studies that have shown that over the course of a few years, online sales will surge 3 times faster compared to overall retail business.

In this era of the latest technology trends, it is not all about sales, online shopping has modified the expectation of the consumers.  Nowadays, most people got used to the effects of faster, personalized and convenient means of shopping online. Most importantly, they are able to offer the required experiences which people get from e-commerce sites. For this, you must turn towards the commerce development services and build an e-commerce website.

What digital transformation means for retail?

At its highest level, digital transformation is one of the latest IT technology trends. Here, this means from using digital technologies to create game-changing business innovations and these innovations will disrupt the existing industries or there are chances that it will create some new ones too.

The major drawback that one might have is the difficulty to drive that to specifics. There is one of the technology trends in today’s era and something which people rave about. In both cases, the economics of the impacted industry has changed in a radical manner. Even though in today’s era of IT technology trends, retail still involves transferring the possession of physical goods to the consumer.

Steps to digitalize in-store experience for attracting huge customers

The basic steps to digitalize the in-store experience for attracting huge customers are as follows:

·         Speed

Online shopping has been revolutionized because of various IT technology trends. The customers have become used to getting personalized recommendations while they stop at online stores and marketplaces.

·         Personalization

Now, if you are purchasing the new camera online, then the website will automatically show extra personalized commodities that you might find interested to buy. This could be the camera bag, an extra pack of batteries or even the set of lenses.

·         Convenience

No doubt, when it is related to convenience, there is nothing which can beat online shopping using mobile or smartphones. The best part of one of these IT the technology trend is that you can do it wherever you are or whenever you want to.

Conclusion

For delivering the right kind of experience which modern customers need, it is important for the physical stores to change. Therefore, the digitalization of the retail business is important.

For more details regarding e-commerce development services or to create an e-commerce website, you can directly reach us at Buyyourkart.com.

The growing importance of business intelligence in retail analytics

The retail market is a dynamic one and with the improvement of web and the development of multi-channel operation and evolution of intelligence retail analytic solutions. The organizations must have the capacity to change their plans of action and so that they can gather constant business data and drive the proficient of their everyday operations. The organizations must have to be adaptable and receptive so that they might be rapidly reacting to the progressive advanced client request.

As per the reports, during the financial year 2010-2015, the composite compound annual growth rate in retail revenue was around 5.0% and while the average size of the top 250 retail revenue was $17.2 billion. The retailers depend on recorded examination for illuminating the future basic leadership that frequently forms a left considerable measure to be fancied. To adopt retail mobility solutions that provide retail analytic is a powerful way to work towards your retail goals.

 Importance of business intelligence in retail analytics

Let us look at some major points that highlight the importance of business intelligence in retail analytics as:

·         Client encounter choices

To make compelling, the client-driven choices retailers and brands utilize the retail investigation to envision the needs of the customers and give them a consistent client encounter. The client investigation in the retail industry can likewise enable you to enhance the experience and unwavering by knowing unequivocally that purchasers are purchasing.

·         Key choices

Retail organizations have the capacities frequently work in the storehouse that implies their information bits of knowledge and are divided caught in the pockets over the association. Topics up an exhaustive perspective of the business results, your organization need to bring together and incorporate every one of its information.

·         Operational choices

To enhance the operational excellence over the channel, the retail information examination can enable the retailers and providers to screen store level request and continuously guarantees the smash hit things to stay up in the stock.

·         Web Retailer

This web-based business knowledge asset the reports for more retailers that will soon depend upon the cutting edge innovation and become more astute with the time and follow up on the travel to understand the most astounding return.

Conclusion

By having the retail analytic app, it can indeed be the greatest and the biggest solutions for your business. Therefore, users can even unleash better results by studying the scene aspect of those growing e-commerce or retail industry.

For more details regarding e-commerce development services, or create an e-commerce website, you can directly reach us at Buyyourkart.com.

How to Start an E-commerce Marketplace in India?

India’s e-commerce market is increasing at a wider range and at a very rapid pace. And, letting sellers sell their products and services online without any requirement of owning any physical store. But, do you have any idea what is actually needed to begin with the e-commerce marketplace? The major aspects that are needed to begin the e-commerce marketplace are hosting, SSL, domain, inventory management, payment, shipping, and many more things.

These are all the common considerations before we need to start the e-commerce marketplace no matter in which geolocation you are going to start it out. Buyyourkart is catering the clients all around the globe and provide best e-commerce development services to its customers and for their businesses. Before giving the actual picture to your e-commerce marketplace business, you must need to consider the other factors which are based on the country to start an e-commerce marketplace.

An important consideration for the e-commerce marketplace

There are some major factors that one must consider while starting the e-commerce marketplace in India as described below as:

·         Payment processing

E-commerce the marketplace is all about the multiple vendors and transactions that are different from the typical e-commerce business model. All this makes the payment processing as one of the most complex and crucial section of the e-commerce the marketplace which must be planned appropriately.

·         Shipping

By providing convenient shipping service to your customers is equally crucial as providing the payment option to them. Therefore, you must have to choose the logistic option which charges the reasonable price to ship the product that depends on the size and weight of the product.

·         Taxation: GST

As far The Indian government is quite focusing upon the digital transformation. Therefore, the commerce industry will be increasing the maximum benefit under Goods and service tax called GST. For your e-commerce business, you need to register for GST another taxes under the government of India.

·         Government selling norms

The Indian government has tightened the e-commerce norms for the online marketplace as the companies or entities are restricted from buying more than 25% of the inventory from the single merchant. The e-commerce companies must have the equity participation or control on the inventory or any other entity. Online marketplace the entity will not give direct or indirect discounts or manipulate the product prices.

Conclusion

For the Indian e-commerce marketplace, there are many options available in the market that users can opt for and start their e-commerce platform.

For more details regarding e-commerce development solutions or to create e-commerce websites, you can directly reach us at Buyyourkart.com.

Android or iOS: How to choose the best Platform for E-commerce App?

Are you at the crossroad between Android or iOS platforms for e-commerce app development? Then, not to worry about, you are at the right place, this guide will help you to get better assistance about which platform is good for developing the e-commerce app. 

Building an e-commerce application is the strategic business direction from the perspective of technology as well as cost. There are many factors that are involved not only for the impact of the e-commerce app development process but also the ROI which your business receives from the e-commerce app.

Therefore, it is significant for the business to consider all the major factors carefully and only then decide to choose between both the platforms. But, if you are aware of what your audience needs, which features and functionalities are important for shopping the app, how much you can spend on the maintenance of your e-commerce app and finally, the most crucial factor, what are your precise revenue goal, then you can quickly end this conflict of Android or iOS for your e-commerce mobile application development.

5 Crucial Factors to decide between the platforms

To decide whether android or iOS the platform is a better option to choose for your e-commerce app, you must consider these 5 crucial factors as:

·         Target audience

E-commerce application is always evolving into the system of the technologies and the people open new space for innovation. Android has a larger market share and around 88% of the smartphones sold to the users where the Android operating system. But if your target audience lies in USA, UK, Japan, etc then you should go with iOS development.

·         Project timeline

For iOS the programming language involved is swift, there is less scope for customization and creativity,  and launches on apple store, whereas android needs java and is the open source, lack of customization, and is available for Google play store.

·         Functionality & Features

Android is open source and thus gives more scope to Android developers to create shopping apps with more unique functionality and features. A closed ecosystem of iOS does not let the iOS developers do much experiment with the e-commerce app.

·         App Maintenance Budget

As per the reports, 50% of the android users have not updated the operating system, but iOS holds generate user extent in it. Apps need maintenance for many reasons like a new mobile operating system, bugs tracking and fixing, security updates, etc. 

·         Revenue goal

Every person handles technology differently and has a different set of unique preferences that is loosely based upon the budget and technology ecosystem in the region. This means an android user behavior is different from iOS user behavior.

Conclusion

If you want to build a shopping application faster and cheaper then the iOS platform is the best option for you. But, if you want to target the global audience and emerging market as well, then you should opt for an android e-commerce application.

For more details regarding e-commerce development services or create an e-commerce website, you can directly reach us at Buyyourkart.com.

How to develop E-commerce Development project?

The e-commerce development industry has seen enormous growth in the last few years and this increasing trend is expected to grow even more in coming years. To begin with an e-commerce business, it is not just having a good idea or being at the right place at the right time, it entails more like a business plan and focused hard work to go along with all this. Below we have discussed the major steps that we should take to develop e-commerce development the project so that they can help you get your business started effectively as:

·         Identify product or service

The first and foremost step is to identify the product or services which you plan to sell online as one can find the e-commerce portals for almost any the product that ranges from pin to construction material. For this, you need to consider the demand of the product along with its price, neither very low nor too high.

·         Purchasing domain name

Getting a domain name is quite a simple procedure. All you have to do is to think a domain name that identifies your organization or brand and finds a good hosting provider to buy a domain name for your business.

·         Select the best e-commerce platform

An e-commerce development platform is where you can make your products or services available to the customers so that they can conduct the transactions. There are several platforms available in the market like Buyyourkart, Magneto, etc so purchase from any of them.

·         Hosting a platform for your website

An e-commerce business can be made or broken with the right choice of the server or the hosting as this will determine the accessibility and the efficiency of your website. The basic parameter to be considered for the same is the speed, uptime, reliability, security and many more.

·         E-commerce development partner

This can be very confusing for some time to differentiate between the best e-commerce vendors and the e-commerce tech development partners. Several points must be considered as selecting them as the location of the vendor should be in the same time zone, best e-commerce vendor must work according to the needs of your business.

·         E-commerce website testing

Once the website development has been finished, you are now required to test the e-commerce website as this will help you to check the usability and the customer's convenience that ensures the good shopping experience.

·         Efficient marketing

Once your website is live all you need to do is to focus on effective marketing plan so that it reaches the audience at the right time. As the online market is highly crowded with the business owners, all the competing to attract the attention of the customers it becomes daunting tasks to get noticed.

Conclusion

We have outlined the major steps to start your e-commerce development a project that will help you to enhance your e-commerce business more widely.

For more details regarding e-commerce development services or create an e-commerce website, you can reach us at Buyyourkart.com.

How can you get customer reviews for your e-commerce store?

The creation of an e-commerce store is the only and foremost step in business. There should be transaction occurring regularly, but there is no option available to evaluate the store that is currently in the online world. Social proof, in the form of customer reviews, can be quite an effective tool for your store sale boxes.

The customers may not be providing the reviews on the website even after repeated request, but there are many owners who get stuck in this vicious cycle. To some, this idea of getting the reviews does not go down very well. This aspect is commonly neglected but it has the potential to make the conversion. In a recent study, it has been revealed that one review increases orders by 10% and if it if, for 30+, the orders will increase up to 40%.

Therefore, in this guide, we will look at the steps to get quick yet relevant reviews on the store that will be convenient enough for your organization to increase the growth and sale of their business as:

·         Identification of possible customers to give reviews

In the first place, this process includes the identification of the buyer who will give reviews. They are the one who recently bought from the e-commerce store and they will do that willingly at any cost.

·         Ask for the customer reviews

If proper classification and final charting is done, the next step will be to politely ask to review your products and share the experience that they had in the e-commerce store. There are many tools which can help to check who opened the mail and can resend it to them any time required.

·         Automatic response

The previous step has now made a clear cut out of the people to whom emails are sent and who are all likely to buy new products. The retailers use some a technique where it is programmed to send emails to the customers after they have bought a number of products.

·         Email marketing

The first impression from the site owner to the customer is the personalized email which builds a sense of connection between the two. This technique can be hence multiplied and can be used on all the major platforms.

·         Provide incentives

Another initiative might be a provision for incentives and the customers can be given some coupons or discounts for providing the review. While giving the coupons, it is recommended to include some offerings that will encourage the customers to keep shopping from your website.

Conclusion

Hope all these steps will help you to get more engaged and get more reviews on your website and will help you to grow and increase sales productivity of your business.

For more details regarding e-commerce website development services or create an e-commerce website, you can directly reach us at Buyyourkart.com.