The holidays are here and for merchants, this means more sales and an overall busier schedule than what they are accustomed to. The Black Friday spending totals for 2013 are in, and according to the National Retail Federation, there has been an increase in consumers who shopped during this time period
For merchants who are considered to be high-risk merchants, this is good news as it means that this sector is not suffering from the hard economical times as it was a few years ago.
The NRF reported that there were around 59 million people who shopped online spending an average of $178 per transaction. It was estimated that there were around 141 million shoppers considered unique that came out to stores during this shopping period as well. With these types of numbers that show an increase from 2012, it seems that shopping is becoming more stable, as people are once again spending their money.
Those merchants who are considered high risk, often deal with products that are not always purchased by consumers such as products related to guns, travel services, coin shops, adult products, and the like. Many times these merchants are hit hard during the holiday season. Yet, a high-risk merchant account for the holiday season is extremely important to have, especially during this particular season.
The reason for the importance is that there has been an increase in spending this year. This does mean that more people are buying products for the holiday season, and the products that high-risk merchants offer are products that people are interested in purchasing. In fact, the NRF is reporting on total sales in the retail industry, meaning that high-risk merchants were included in these statistics. Due to the nature of products offered by high-risk merchants, they have been increasing their sales and offering deals that are only going to be seen during the holiday season.
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