Local Ecommerce Sites Continue to Grow
With improved internet connectivity, online shopping is gaining momentum. According to uAfrica.com, local ecommerce in South Africa is growing at a rate of between 25% to 35% year-on-year, giving consumers the freedom to browse and purchase goods and services at their leisure.
Daily and weekly deals are popular amongst South Africans, especially the bargain hunters. This online trend of daily deal sites continues to grow within a highly competitive market. Do you have a dedicated team to support your online business growth?
How big is the global ecommerce market?
The global ecommerce market is expected to total $5.55 trillion in 2022. That figure is estimated to grow over the next few years, showing that borderless ecommerce is becoming a profitable option for online retailers.
Two years ago, only 17.8% of sales were made from online purchases. That number is expected to reach 21% in 2022, a 17.9% increase in ecommerce market share over two years. Growth is expected to continue, reaching 24.5% by 2025, which translates to an 6.7 percentage point increase in just five years.
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