Net Element (NASDAQ:NETE) Sees Health and Beauty Processing Surge in 2016

NetworkNewsWireNew York, New York, 08:30 EDT Apr 11, 2017 (NetworkNewsWire) – Net Element (googlechartNASDAQ:NETE) management believes that cash transactions are becoming progressively obsolete. The company is in the digital transaction business, with its North American transactions revenue growing to $42.1 million in calendar 2016, up 54% from 2015. Interestingly, for consumer transactions, where restaurants and educational services dominated in 2015, health and beauty was the fastest growing segment last year — accounting for almost 20% of that total business.

Net Element is a global financial services company focusing on processing electronic payments in an omni-channel environment. It has three segments: North American Transaction Solutions, Mobile Payment Solutions, and Online Payment Solutions. In 2016, the North American segment contributed 78% of total corporate revenue of $54.3 million, or ten points higher than in 2015. The company processed $1.6 billion in transactions in this segment in 2016, a 60% increase over its 2015 revenues.

While 48% of Net Element’s processing in North America in 2015 came from restaurants, as its sales team emphasized its Aptito high-technology product line, that figure dropped to 37% last year. In its place was a surge in health and beauty establishment processing. It grew to 19.9% in 2016 from 7.1% in 2015. General merchandise also grew, delivering greater than 15% of all transactions processed last year. Conversely, educational services fell to just 4.4% from 15.9% in 2015.

Net Element has a lot of growth potential in U.S. processing in the health and beauty category. The hair care industry in the U.S. has some 86,000 establishments, including 82,000 beauty salons and 4,000 barber shops, according to a research study titled ‘Beauty Salon Business Overview and Trends, 2014’ (http://nnw.fm/88zsJ). It’s a growing business; revenue is seen reaching $58.7 billion by 2019. Due to the appeal of higher profit margins, industry operators are seen increasing to 1.3 million by 2019. It also sees higher enrollments at cosmetology schools.

For more information, visit www.NetElement.com

About NetworkNewsWire

NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

Source:NetworkNewsWire

Contact:

NetworkNewsWire (NNW) 
New York, New York 
www.NetworkNewsWire.com
212.418.1217 Office 
Editor@NetworkNewsWire.com

 



ABN Newswire
ABN Newswire This Page Viewed:  (Last 7 Days: 1) (Last 30 Days: 20) (Since Published: 2331)