4 Reasons why SA businesses need e-commerce websites in 2022
Research done by McKinsey and Company reveals that SMEs make up 98% of businesses in South Africa and employ between 50-60% of the country’s workforce.
Two years into a pandemic that swept the country into an economic crisis, we’re seeing a growth in e-commerce with a study done by Deloitte finding that more than 70% of South Africans are shopping online.
Add this to increased access to advanced digital technology, contactless payment methods and high-speed internet, and it’s becoming clear that South African consumers are driving the growth of e-commerce.
Here’s why 2022 is the right time to take your business online:
1. Mobile penetration amongst South African consumers is higher than ever
The integration of wallets, bank apps and shopping apps has made browsing through virtual shopping isles easier than ever before.
From a survey of 1 000 South African consumers, Mastercard concluded that the online shopping trend will continue to grow as 71% of respondents say they will still shop online post-pandemic.
2. South African consumers put convenience at the forefront
A March 2020 McKinsey Consumer Pulse Survey discovered that more than 70% of South Africans are looking to cut back on transport and travel-related costs.
This reduced need to visit a physical store was also identified in research done by Deloitte. They found that 26% of consumers said they do online shopping is because it is more convenient.
3. South African consumers want a personalised shopping experience
As South Africans become more comfortable with the concept of online shopping, their appetites for e-commerce solutions are growing.
E-commerce stores give the consumers a personalised, safe and easy shopping experience in the palm of their hand and can reach a wider audience, 24/7.
4. Credibility is what South African consumers want
In a world where online availability is quickly becoming a cost of entry, an online store presence immediately makes a business more credible and builds brand loyalty.
Durban-based fintech company, iKhokha, has been paying close attention to these trends, investing in ample research, and has spotted development potential on the horizon.
And with the recently launched safe, easy, and affordable iKhokha Payment Gateway, South African small business owners can start, run and grow their business online.
For more information on iKhokha’s Payment Gateway, please visit www.ikhokha.com/pay-online.
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