An international online payment provider, GlobalCollect, will be PayPal’s new competition in Australian retail marketing. In a 5.5 per cent increase from 2011, e-commerce comprised 6.3 per cent of total retail sales in Australia during 2012.
According to GlobalConnect, the market for online retailing has increased from $155 million in 2010 to $5.6 billion in 2012. The e-commerce market will continue to benefit from the incredible prevalence and expanding use of smart phones.
Founded by TNT in 1994, GlobalConnect allows people to make payments in their local currency. Many people all over the world are attracted to GlobalConnect for this reason. Particularly in China, a large country operating with many different currencies, the company has flourished by allowing local payment methods.
GlobalConnect also plans to expand into the Japanese online retailing market, which is predicted to increase from last year’s $128 billion to $182 billion by 2016.
Over 500 companies worldwide, across a range of brands including digital, retail, travel and gaming, use GlobalConnect to make their payments. As a result, the company processes $14 billion in international payments made via the Internet.
Brands such as Adidas, Fila, Marks & Spencer, Nine West and Puma use Demandware to execute their e-commerce – a company which now partners with GlobalConnect.
By bringing flexibility into currencies and payment methods in online retailing, GlobalConnect strives to make the process easy for retailers. They have endeavoured to become deeply involved in the Australian market in order to communicate the benefit of their expertise and experience in e-commerce.
Now, retailers in Australia can benefit from GlobalConnect’s services. As the number of Australian consumers who use the Internet to make purchases continues to increase, it’s important to have innovative retail strategies in place. Australian retailers can also benefit from these services, which make expanding their business to customers worldwide a more accessible option.