Local online retail goes mainstream and is set to pass the R14-billion mark this year, marking 1.4% of total retail
Online retail in South Africa is due to pass the R14-billion mark in 2018 as e-commerce begins to go mainstream. This is a key finding of the Online Retail in South Africa 2019 study.
The 2018 figure, which represents 25% growth over 2017, comes as a surprise, given predictions that online retail growth would slow down to below 20% by 2018.
Forecasts have been beaten as a result of massive investments in online retail, aggressive marketing, and the rapid uptake of new shopping channels like mobile shopping and Instagram.
Further, most established online retailers have enhanced their digital presence, and refined their fulfilment models, while many traditional retailers are starting to see significant growth in their online offerings. It is not unusual to see growth rates of between 25% and 50% reported by individual online retailers, with slightly more tempered expectations for 2019 and 2020.
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South African payment gateways.
Source: www.businesswire.com
