Tag: e-commerce

The findings of PwC’s inaugural Voice of the Consumer Survey highlight changing attitudes toward responsibly sourced and eco-friendly goods. Released in May 2024, the findings are based on 15 years of research and insights from over 20,000 shoppers in 31 countries. 46% of respondents reported buying more sustainable products to reduce their personal environmental impact. These evolving attitudes have caught the attention of South African e-commerce businesses, given the growth of online shopping.

Black Friday is almost here, raising stress levels for everyone involved. Shoppers rush to find valuable deals. Retailers need to achieve sales targets to satisfy shareholders. To succeed this year, organisations must maximise their retail technology investments and offer real value and superior customer experiences.

Generation Z, born between the late 1990s and early 2010s, is moving into the workforce and becoming one of the most influential consumer demographics. Retailers will need to adjust their strategies if they are to remain relevant for this highly educated, socially aware and digitally connected cohort.

Capitec reports 36% growth in its financial results for the six months ended 31 August 2024, driving headline earnings to R6.4 billion. The nation’s leading retail bank – now with 23 million clients – says its strategic focus and continued investment in digital transformation since 2020, product diversification, and client-centric solutions continue to yield impressive results, positioning it as a trailblazer in South Africa's financial services sector.

Digital advertising in South Africa is on the rise, driven by business-oriented trends. The annual report, conducted in partnership with PwC, seeks to accurately measure the total revenue generated by domestic online media, including mobile advertising. While we have witnessed how the digital ecosystem has become a lot more creative, driving performance and connecting with audiences to build trust, the power of generative artificial intelligence (AI), retail media and social communities continue to provide opportunities for marketers and business growth alike.

Internationally, 75% of startups consider partnerships with corporates critically important to their success, with a further 63% anticipating that these relationships will gain even greater importance in the future. In South Africa, however, corporates’ support for entrepreneurs is lacking and must be urgently remedied by the country’s businesses.

The pivotal role of digital accessibility for goods and services has become abundantly clear over the past few years. The global economy, now more than ever, relies on the seamless flow of transactions across borders. Whether it involves individuals, businesses, or financial institutions spanning different countries, the realm of cross-border payments has taken center stage in our interconnected world.

Generation Z, born between the late 1990s and early 2010s, is moving into the workforce and becoming one of the most influential consumer demographics. Retailers will need to adjust their strategies if they are to remain relevant for this highly educated, socially aware and digitally connected cohort.

E-commerce, e-tail or online shopping – whatever you call it, its adoption among South Africans has almost reached ubiquity, sitting steady at 6% of the total retail pie (on and offline purchasing), with 86% of online consumers (49% of which have a household income of less than R10,000.00 per month) reporting that they have purchased online. This is according to the sixth annual South African Customer Experience Report.

Starting a new business is an exhilarating venture, filled with both opportunities and challenges. However, the path to success requires more than just a great idea - it demands a strategic approach, careful planning, and the ability to adapt to evolving market conditions.