e-Commerce: Online retail sales 'set for rapid growth'

[dropcap]T[/dropcap]he online retail sales in Africa are prepared for rapid expansion in the next five years, according to a new report on the regional e-commerce marketplace. The latest report, Africa B2C E-Commerce Market 2018, cites sources indicating that online retail sales in the continent are prepared for rapid expansion in the next five years. The leading nation in online retail sales in Africa is South Africa, where e-commerce revenues have been growing at double digit rates, the report says. It also says that online shopping is also making inroads in Morocco and Kenya, with more Internet users turning to making purchases digitally. The report highlights sales growth in Nigeria, noting that the leading B2C e-commerce merchant in Africa is Lagos-based Jumia, with three million customers spread through several nations, though there are other local online retail platforms such as Souq in Egypt and Kilimall in Kenya. International players such as AliExpress and Amazon as well as sellers on social media are also seeing expansion in the continent, according to this report. The top categories bought online in Africa include clothing and electronics. [caption id="attachment_59250" align="aligncenter" width="5184"] A group of mobile phone technicians seen at Computer Village, Ikeja in Lagos[/caption] The report also cited Yudala Ltd, the Nigerian e-commerce company that was recently merged with Konga, the top e-commerce market player, following its acquisition by Nigerian technology group, Zinox Technologies Limited. Online retail sales in Africa accounted for less than 1% of the global total last year, even though some nations have already undergone a rapid growth period, according to the report. International players such as AliExpress and Amazon as well as sellers on social media are also seeing expansion in the continent, according to this report. The top categories bought online in Africa include clothing and electronics. The report points to improving connectivity rates, particularly through mobile connections, as setting the stage for growth in the near future. Government regulations such as those recently enacted in Egypt are also expected to help in the development of e-commerce. The report provides information on sales, growth projections, leading online merchants and purchase category preferences for several countries in the region. According to the authors, the report explores topics like the main drivers and barriers of B2C E-Commerce growth in Africa; depth of online shopper penetration in selected markets in Africa and current and future growth rates of online retail sales in South Africa, Egypt and Nigeria. It also looked at payment methods preferred by Africa's online shoppers and the leading e-commerce market players in the region. Other e-commerce players cited in the report include Amazon.com Inc, Avito.ma, Bidorbuy.com Inc, CompuMe, LLC, DealDey Ltd., Diwan Bookstores, eBay Inc and Facebook Inc. Others include Jumia Group, Kilimall, Konga.com Online Shopping Ltd, Naspers Group, OLX Group, Pick n Pay Stores Ltd, Safaricom Ltd, Souq.com FZ-LLC, Takealot Online (Pty) Ltd and Woolworths Group.

e-Commerce: Online retail sales ‘set for rapid growth’

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