Africa’s e-commerce landscape is growing, with more players entering the industry. With increased e-payment innovations and technical security, Sub-Saharan Africa will continue to see growth in is number of online shoppers.
February 04, 2020 | Faith Masekesa- E-commerce platforms are gaining a foothold in the African retail industry
- Three economies continue to dominate the e-commerce landscape in sub-Saharan Africa
- Mobile technology is fuelling the e-commerce growth in Sub-Saharan Africa
E-commerce is increasingly disrupting the retail industry in Sub-Saharan Africa. The United Nations Conference on Trade and Development (UNCTAD) reported that the number of online shoppers in Africa surged annually by 18% since 2014. The rapid Internet penetration through smartphones over the past decade largely contributed to the growth of Africa’s e-commerce. The International Telecommunication Union statistics also revealed that the share of the population using the Internet increased from 2.1% in 2005 to 24.4% in 2018. Furthermore, Africa’s payments services architecture is evolving in response to changing customer expectations and technology, offering a range of disruptive payment models enabling more people, even without a bank account, to take part in online shopping.
Technological advances and innovation have undeniably played a critical role in the adoption of online selling and purchasing in Africa. For instance, multinational payments company Cellulant built Africa’s first augmented reality-powered try-on experience in Facebook Messenger, enabling customers to search and try the products before purchasing them on the online platform Mula Shops.
In several African countries, e-commerce is used to extend retail services to small towns and the rural population, where there is limited choice of goods available. Retailers are increasingly leveraging on technology to drive sales and to better engage with customers. Statistics portal Statista reported that the total value of e-commerce in Africa reached $16.5 billion in 2017 and is expected to reach $29 billion by 2022. Although e-commerce is spreading steadily in Sub-Saharan Africa, three economies continue to domin...
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Africa’s e-commerce landscape is growing, with more players entering the industry. With increased e-payment innovations and technical security, Sub-Saharan Africa will continue to see growth in is number of online shoppers.
February 04, 2020 | Faith Masekesa- E-commerce platforms are gaining a foothold in the African retail industry
- Three economies continue to dominate the e-commerce landscape in sub-Saharan Africa
- Mobile technology is fuelling the e-commerce growth in Sub-Saharan Africa
E-commerce is increasingly disrupting the retail industry in Sub-Saharan Africa. The United Nations Conference on Trade and Development (UNCTAD) reported that the number of online shoppers in Africa surged annually by 18% since 2014. The rapid Internet penetration through smartphones over the past decade largely contributed to the growth of Africa’s e-commerce. The International Telecommunication Union statistics also revealed that the share of the population using the Internet increased from 2.1% in 2005 to 24.4% in 2018. Furthermore, Africa’s payments services architecture is evolving in response to changing customer expectations and technology, offering a range of disruptive payment models enabling more people, even without a bank account, to take part in online shopping.
Technological advances and innovation have undeniably played a critical role in the adoption of online selling and purchasing in Africa. For instance, multinational payments company Cellulant built Africa’s first augmented reality-powered try-on experience in Facebook Messenger, enabling customers to search and try the products before purchasing them on the online platform Mula Shops.
In several African countries, e-commerce is used to extend retail services to small towns and the rural population, where there is limited choice of goods available. Retailers are increasingly leveraging on technology to drive sales and to better engage with customers. Statistics portal Statista reported that the total value of e-commerce in Africa reached $16.5 billion in 2017 and is expected to reach $29 billion by 2022. Although e-commerce is spreading steadily in Sub-Saharan Africa, three economies continue to domin...
Categories:
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