With online consumer spend set to hit £39 billion per year by 2010, PayPal, the leading global payments system, warns businesses to get going online or risk being left behind and missing out on valuable profits. There will be 24.9 million shoppers in 2010 - a rise of 71% compared to 2005 figures - and these will account for 49% of the adult population which reveals the true size of the future e-market.
PayPal UK estimates that by 2010, one in five purchases in the UK that would not have happened on the high street will take place online - accounting for a further 3.2 billion spending. However, there is a fine line between success and failure for the newcomers of eCommerce as many online ventures experienced in the dot com crash of the late '90s. PayPal has therefore used its extensive online eCommerce experience to provide a free guide for companies wanting to capitalise on the growth in online spending.
The guide by the Trade Online Project, authors of the DTI's Electronic Payment Tools website, takes the reader thorough the seven building blocks of eCommerce. The guide covers the different types of solutions to use and also how to integrate different elements such as the 'search and selection' with the 'checkout'. Throughout the guide are example screen grabs and helpful hints for different industries.
Carl Olav Scheible, Head of Merchant Services at PayPal comments: "Over the past few years we've seen the internet gradually eating away at the high street. By 2010, we expect substantial sums, previously spent on the high street, to have moved online. We have worked closely with the market experts to produce a simple but effective guide which can provide SMEs with the essential tool kit that many of them are lacking."
Once small businesses are up and running online, they will be able to benefit further by using PayPal as their chosen ePayment service. With over 10 million PayPal users in the UK alone, accounting for 60% of online shoppers, merchants using PayPal have experienced an average 14% uplift in sales revenue*.
To apply for your free online business guide 'The Seven Building Blocks of eCommerce' log onto: www.paypal.co.uk/ecommerceguide
For more information about PayPal Merchant Services please call 0800 358 7929
For further information or a free copy of the guide please contact:
paypal@lansons.com
Sophie Lilley / Chloe Mann / Sean Williams
Lansons Communications
020 7 294 3657 / 3681 / 3690
Notes to Editors
* Source: PayPal - date
The Trade Online Project
The Trade Online Project offers a fixed price eCommerce service that enables businesses to build - publish - sell. Trade Online Project (TOP) is the most professional, affordable route to trading over the Internet. TOP covers your web site design and implementing your ecommerce software, content management system (CMS), hosting and online payments. TOP project manage the entire build to get your new online business live in 4-6 weeks. The specialist training ensures you learn how to manage your own content and upload your own products and images - with little or no technical expertise required. A free initial consultation is offered to PayPal customers. Visit www.tradeonlineproject.com/paypal
About PayPal (Europe) Ltd
PayPal (Europe) Ltd. is a UK-based company, regulated by the FSA as an Electronic Money Institution (ELMI) and became regulated by the FSA as such in February 2004. As a regulated institution, we are subject to general prudential supervision by the FSA. It is a subsidiary of PayPal (International) Ltd., which is based in Dublin and is in turn a subsidiary of PayPal Inc. of San Jose, California. PayPal is 100% owned by eBay. PayPal was set up in the US in December 1998 and acquired by eBay in 2002. PayPal has over 10M accounts in the UK, over 100M accounts worldwide and can be used to make online payments in 55 markets.
About Datamonitor
Datamonitor plc is a premium business information company specializing in industry analysis. Datamonitor helps its clients, 5000 of the world's leading companies, to address complex strategic issues. Through its proprietary databases and wealth of expertise, Datamonitor provides clients with unbiased expert analysis and in-depth forecasts for six industry sectors: Automotive, Consumer Markets, Energy, Financial Services, Healthcare, Technology. Datamonitor maintains its headquarters in London and has regional offices in New York, Frankfurt, Sydney and Tokyo.