Stitch recently published a report on South Africa’s e-commerce landscape, offering key insights to help businesses stay competitive.
South Africans are embracing e-commerce at an impressive rate, with consumers spending an average of 10% of their monthly income online.Businesses in South Africa that offer e-commerce and online shopping should consider how customers choose where to shop and what they consider a positive purchase experience if they hope to remain competitive.
This shift towards online shopping has continued, and it is now predicted that the local e-commerce industry will grow at a compound annual growth rate of 12.5% from 2022 to 2027.This shows that e-commerce is becoming popular across many sectors, rather than only for specific product types. It is therefore critical that e-commerce stores offer multiple, seamless payment options to ensure their customers enjoy their online shopping experience.
44% of consumers said they have used instant EFTs and Pay by bank methods, including Capitec Pay which has grown in popularity since launching last year, while 38% said they have used cash on delivery.
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