FNB estimates that e-commerce will be worth R225b in five years. Bruce Whitfield interviews Rand Merchant Bank's Aluwani Thenga.
Rand Merchant Bank (RMB) estimates there are now around 5,000 businesses online in South Africa with a turnover of R100,000 or more.
And e-commerce is expected to be worth R225bn in SA by 2025, writes Aluwani Thenga in an article on the RMB website.
That's a 150% surge within five years.
While the move to online purchases was growing pre-Covid, it's lockdown restrictions that acted as "a massive accelerant" in pushing South Africans further in line with this global trend.
A recent Nielsen study on the impact of Covid-19 on fast-moving consumer goods (FMCG) and retail found the following:
"68% of South African consumers reduced their frequency of visiting physical supermarkets, while 37% of South African consumers increased their online shopping activity."
Bruce Whitfield interviews Aluwani Thenga, Executive Head of Merchant Services Growth at FirstRand Bank (First …