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\u2019s workforce.<\/p>\n
Two years into a pandemic that swept the country into an economic crisis, we\u2019re seeing a growth in e-commerce with a study done by Deloitte finding that more than 70% of South Africans are shopping online.<\/p>\n
Add this to increased access to advanced digital technology, contactless payment methods and high-speed internet, and it\u2019s becoming clear that South African consumers are driving the growth of e-commerce.<\/p>\n
Here\u2019s why 2022 is the right time to take your business online:<\/p>\n
The integration of wallets, bank apps and shopping apps has made browsing through virtual shopping isles easier than ever before.<\/p>\n
From a survey of 1\u00a0000 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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
As South Africans become more comfortable with the concept of online shopping, their appetites for e-commerce solutions are growing.<\/p>\n
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.<\/p>\n
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.<\/p>\n
Durban-based fintech company, iKhokha<\/strong><\/a><\/strong>, has been paying close attention to these trends<\/strong><\/a><\/strong>, investing in ample research, and has spotted development potential on the horizon.<\/p>\n And with the recently launched safe, easy, and affordable iKhokha Payment Gateway<\/strong><\/a><\/strong>, South African small business owners can start, run and grow their business online.<\/p>\n