South Africa E-Commerce Market to Reach USD 7.9 Billion by 2027, Bolstered by Increasing Penetration of Smart Phones and the Growing Broadband Connections

According to the report by Renub Research, titled "South Africa E-Commerce Market, Size, Forecast 2022-2027, Industry Trends, Share, Growth, Impact of COVID-19, Opportunity Company Analysis" the South Africa E-Commerce Market Size was USD 4.5 Billion in 2021. Technological advances and modernization have undeniably played a critical role in the adoption of e-commerce in South Africa. It has changed the face of economic trade and is gaining a foothold in the retail industry due to a low-cost way of conducting economic activities and building global business partnerships to interchange information through interconnected networks. E-commerce is a form of computerized commerce, enabling customers to buy products or services over the internet using a browser, regardless of distance and time.

Besides, several factors contribute to impressive e-commerce growth in South Africa as it has second-largest youngest population in the world. Thus, there is potential for a massive digital audience. In addition, internet penetration has been growing due to the broad expansion of smart phones and mobile devices in common. Indeed, various digital payments are becoming more widespread in South Africa. This is undoubtedly an essential aspect of e-commerce. As per research findings in 2021, User penetration is 41.1% in 2021 and will hit 53.1% by 2025.

How Covid-19 Benefited South Africa E-commerce Industry

The corona virus pandemic accelerates the development of the e-commerce market in South Africa, changes the way consumers behave and increases the importance of e-commerce even more. Indeed, consumers who stay at home and shop online to avoid the risk of infection also look more favorably on e-commerce; this has led not only to growth in industries that are already popular (clothing, electronics), but also those that were marginal until the crisis, such as e-grocery in South Africa.

Request a Free Sample Copy of the Report: https://www.renub.com/request-sample-page.php?gturl=south-africa-e-commerce-market-p.php

Fashion & Personal Care Products Segments have High Growth Potential

Further, the top e-commerce product categories in South Africa are Toys, Hobby & DIY, Furniture, Food & Personal Care, Fashion and Electronics & Media in South Africa. Fashion is the largest retail category in South Africa. The shift toward e-commerce is a vital, palpable movement in most economies. A quarter of spending on accessories, clothing and footwear (fashion) already occurs online and its rapidly growing. Online marketplaces, like takealot.com and superbalist.com Fashion United SA, are key purchase influencers in a fashion shopper's purchase journey in South Africa.

Notwithstanding, the e-commerce platform is the most popular for personal care products in South Africa. Personal care products are commonly purchased online due to the wide range of products available on online platforms. The time-saving aspect of the medium has contributed to the rise of the online retail phenomenon. Online media helps consumers benefit by spending on skincare and increasingly associating an attractive appearance with career success and professionalism through beauty products.

South Africa E-Commerce Industry to grow with a CAGR of 9.83% from 2020 - 2027

On the basis of payment mode, alternative payment methods such as Bank transfers, Cards, Cash on Delivery (COD), Direct Delivery and E-wallet are being used by digital buyers in South African countries. E-wallets are much more common in South African compared to COD. Mostly unknown in advanced economies, E-wallet represents a revolution in other markets, making financial services accessible throughout the country, including remote rural areas. E-wallet allows customers to receive, store, and spend money using a mobile phone even without internet access.

Although, a card like credit and debit cards are popular payment methods for e-commerce payments in South Africa. It is simple to use; the customer has to enter their credit card number and date of expiry in the appropriate area on the seller's web page. Increased security measures, such as using a card verification number (CVN), have been introduced to online credit card payments to improve the security system.

Follow the link for the full report with detailed TOC and list of figures and tables: https://www.renub.com/south-africa-e-commerce-market-p.php

South Africa's e-commerce market is highly competitive and fragmented, with key market players such as Takealot, Superbalist, Woolworths, Amazon, Mrp. These key companies focus on expansions, acquisitions, and collaborations to strengthen their South Africa e-commerce industry.

Market Summary

Type - Our Report covers by type Market breakup by 5 viewpoints (Toys, Hobby & DIY, Furniture, Food & Personal Care, Fashion, and Electronics & Media)
Payment Mode - Renub Research Report covers by Payment Mode Market breakup by 6 viewpoints (Bank transfers, Cards, COD, Direct Delivery, E-wallet and others)
All the key players have been covered from 2 Viewpoints (Overview, Recent Development) Takealot, Superbalist, Woolworths, Amazon, and Mrp.

Browse Related Report:

Japan E-commerce Payment Market: https://www.renub.com/japan-e-commerce-payment-market-p.php

Germany Ecommerce Payment Market: https://www.renub.com/germany-ecommerce-payment-market-p.php

United Kingdom eCommerce Payment Market: https://www.renub.com/united-kingdom-ecommerce-payment-market-p.php

China Ecommerce Payment Market: https://www.renub.com/china-ecommerce-payment-market-p.php

Global eCommerce Market: https://www.renub.com/global-e-commerce-market-p.php

France Ecommerce Payment Market: https://www.renub.com/france-ecommerce-payment-market-p.php

Japan Ecommerce Market: https://www.renub.com/japan-e-commerce-market-p.php

United States Ecommerce Payment Market: https://www.renub.com/united-states-e-commerce-payment-market-p.php

About the Company:

Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises major players in Healthcare, Travel and Tourism, Food & Beverages, Power & Energy, Information Technology, Telecom & Internet, Chemical, Logistics & Automotive, Consumer Goods & Retail, Building, and Construction, & Agriculture. Our core team is comprised of experienced people holding graduate, postgraduate, and Ph.D. degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science, and many more.

Contact Us:
Renub Research
Phone No: +1 678-302-0700 (USA) | +91-120-421-9822 (IND)
Email: info@renub.com
Web: https://www.renub.com
Follow on Linkedin: https://www.linkedin.com/company/renub-research
Follow on Twitter: @renubresearch

Roswell, GA 30076

Our research helps to make business decisions: on strategy, organization, operations, technology, mergers & acquisitions etc. We support many blue chip companies by providing them with findings and perspectives across a wide range of markets. Our research reports offer a blend of information insight, analysis, and forecasting that is essential in today's ultra-competitive markets.

This release was published on openPR.