The benefits of eCommerce have made it a major tool in both the B2C and B2B markets. It allows consumers to easily browse and compare product options and make secure purchases all without leaving the comfort of the desk. A study, however, found that it is becoming such a powerful tool that entrepreneurs are operating their own versions while working at their regular 9-to-5 job.
Recently, Bigcommerce, an eCommerce platform, surveyed 20,000 of its online stores to find out when the owners are running their sites. The numbers show that 80 percent of online retailers operate their sites at noon—in the middle of the workday. The figure drops down to 50 percent by 3 p.m.
"The data paints a new picture of the modern-day entrepreneur," said Eddie Machaalani, co-founder and co-CEO of Bigcommerce. "Through daily conversations with our clients and monitoring this trend over recent years, we understand that many of these small business owners are pulling long hours to run their business and work a full- or part-time job on top of that, but these numbers provide us with hard stats and evidence."
The entrepreneurial spirit is helping to push the economy and many have embraced eCommerce solutions as a prominent sales channel. However, what both businesses and their developers need to consider when running through hosted eCommerce services like Bigcommerce, ProStores and others like them is how payment acceptance requirements differ between B2C and B2B or B2G. If more than 20 percent of your eCommerce sales will come from business, corporate or government clients, it will become increasingly important to look closely at the available payment processing options offered and insist on Level 3 processing capabilities.
By partnering with a payment solution provider that can implement Level 3 processing including line item invoice detail for business and purchasing card payments, any B2B system becomes more valuable.