Whilst global trends continue to point to the user growth of Facebook, TikTok and Instagram, the trends underneath the headlines highlight significant opportunities to drive new customer acquisition, which in turn demands a targeted customer retention strategy from companies.Īccording to research from Baymard Institute, 69.82% of online shopping carts are abandoned, and with demand expected to continue, pressure is growing on retailers to expand current offerings and create personalised experiences to tackle this. The past couple of years has been rocket fuel for digital transformation, providing an opportunity for the retail industry to innovate. Mobile apps are now a fundamental component of retail, as they provide customers with a convenient and engaging way to shop from their phones. How mobile apps are reshaping the e-commerce industry South Africa’s e-commerce market will reach more than R400 billion by 2025 on the back of more than 1 billion transactions per annum.Īs this unfolds in South Africa, businesses are working hard to position themselves for success by catering to customer needs and following key global e-commerce trends.

Statistics from FNB show that total online sales in 2020 jumped by 55% and another 42% in 2021, driven by increased spending in less traditional e-commerce industries. In fact, the current global e-commerce market is valued at around $5.5 trillion (R101 trillion), and it is estimated that online retail sales will soon reach $6.7 trillion (R123 trillion) by the end of this year, with e-commerce making up 22.3% of those sales.ĭata from 2022 provided by FNB Merchant Services indicated that the online e-commerce market in South Africa has experienced rapid growth and is presently valued at almost R200 billion annually, with retailers such as Takealot, Woolworths, and Checkers, adapting to evolving consumer trends.

By: Arunabh Madhur, Regional VP & Head Business EMEA at SHAREit Groupĭespite many documented market and economic challenges, many brands continue to invest heavily in e-commerce marketing.

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