Cheryl Ingram explains how COVID-19 has fast-tracked the adoption of ecommerce for both consumers and retailers
As predominantly e-commerce focussed business that started in 2013, it’s fair to say that the first four years of our existence often felt like we were swimming upstream. Why? Because the South African retail sector was relatively slow in adopting e-commerce – largely as a result of the high cost of entry and the challenging associated logistics.
The ecommerce sector in Africa is on an upward trajectory. According to the United Nations Conference on Trade and Development ( UNCTAD ), global ecommerce sales in 2018 reached $25.6 trillion, an increase of 8% on 2017, while in Africa, digital innovation and ecommerce has seen significant growth as a result of the COVID-19 pandemic, and an increased consumer need to move online.
Black Friday and Cyber are relatively new concepts in the South African market. That being said, 87% (almost 9 out of 10) consumers in South Africa know what Black Friday is. There are some mind-blowing stats that have come out of Black Friday and Cyber Monday in South Africa.
South Africa’s e-commerce sector has experienced 100% year-on-year growth since January 2020, giving local entrepreneurs an incredible opportunity to build strong, sustainable e-commerce businesses that cater to the needs and purchasing preferences of the country’s future consumers.
Black Friday and Cyber Monday are relatively new concepts in the South African market. That being said, 87% (almost 9 out of 10) of consumers in South Africa know what Black Friday is.
For South African consumers, the shift from bricks-and-mortar shopping to online retail has traditionally been slow. Although half the population has access to the internet and mobile services, online sales have accounted for less than 2% of retail purchases. Until 2020.