The numbers don’t lie. It’s a very good time to start an e-commerce business.
On Monday, the U.S. Department of Commerce released data detailing the growth of e-commerce in 2015: an increase of 14.6 percent ($341.7 billion) from 2014 ($298.3 billion). A progress chart on InternetRetailer.org detailed significant e-commerce growth over the last 11 years. In 2005, for example, e-commerce sales totaled $91.1 billion and rose steadily to the figure released Monday, $341.8 billion.
E-commerce made up for 9.4 percent of all retail sales in 2015, up from 8.2 percent in 2014.
In Q4 of 2015 alone, e-commerce was up 14.7 percent compared with the same period in 2014, said the U.S. Census Bureau.
What Do the Numbers Mean?
Simply, the figures above signify that U.S. consumers continue to shop online more and more frequently. It also means startup businesses continue to evolve. Recently, Instabill released its top e-commerce merchant accounts sold for Q4 of 2015, with PC tech support, e-cigarette and travel-related businesses leading the way.
The same was true when Instabill announced its top industries for January: Tech support continued to reign while travel and adult content were also good sellers.
Start an E-Commerce Business with Instabill
It is not uncommon for some startup businesses to encounter difficulty in finding payment processing. Some acquiring banks reject the risk of working with startups. But for every bank that says no, Instabill can align an e-commerce startup with an acquiring bank that says yes.
“Of the many leads we receive each week, I’d say around 40 percent are startup businesses,” said Wendy Jacques, Sales Manager at Instabill. “What is most important is that a startup merchant has a good e-commerce business plan so the bank understands how they’re going to drive traffic to their website.”
With acquiring banking partners – domestic, international and offshore – Instabill offers fast approvals and can pave the way for startup success.
Our merchant account managers are reachable Monday through Friday from 8 a.m. until 6 p.m. U.S. Eastern time at 1-800-318-2713, or by clicking the live chat option below.