There are a lot of things that can happen in just one minute, just ask the distraught owner of the Shelby Mustang GT 500 who was on the list of cars targeted by Randall “Memphis” Raines in the classic car-heist movie, Gone in 60 Seconds.
Back in the real world and the equally fast-paced digital superhighway that is the internet, you might be just as surprised to discover just how much ecommerce activity you can fit into every sixty seconds that passes in an internet economy that just keeps on growing and growing.
It is feasible that you might well be able to afford to legitimately acquire the aforementioned Mustang codenamed Eleanor, if you happen to be taking a slice of the incredible $3.9 million that is spent online around the globe every 60 seconds.
TL;DR:
The digital economy never sleeps
Every minute, $3.9 million is spent online globally—a staggering amount that keeps growing.
Amazon processes $204,000 and eBay handles $160,000 in sales every 60 seconds.
These rapid transactions rely on robust 3PL fulfillment services to deliver on customer expectations.
Unfortunately, cybercriminals also work at high speed, stealing over $60,000 online every minute.
It would take a superhuman effort to ring through the same number of transactions on a good-old fashioned till, but those virtual tills are ringing loudly throughout the day, with Amazon raking in $204,000 every minute and eBay racking up an impressive $160,000 in the same short time span. These marketplaces are able to satisfy customers with broad product options and a combination of in-house fulfillment and 3PL services.
Key Takeaway: The velocity of ecommerce transactions has created an entirely new economic landscape. To compete in this environment where millions of dollars change hands every minute, businesses need reliable 3PL partners that can keep pace with consumer expectations for fast shipping and accurate order fulfillment.
If you want some more eye-watering facts and figures about the internet economy, check out just what happens in 60 seconds, including unfortunately some cyber criminals who are nowhere near as cool as Randall Raines, helping themselves to over $60K of other people’s cash in the same timeframe.
ALERT: Cybersecurity threats grow alongside ecommerce. With $60,000 stolen every minute online, businesses must protect both their operations and customer data. When selecting 3PL companies, prioritize those with robust security protocols and PCI compliance to safeguard your business from becoming part of this concerning statistic.
