South African merchants have noticed a significant surge in sales in 2024.
South Africa’s e-commerce sector has seen significant growth this year, with 50% of merchants noticing an increase in sales as opposed to 38% in 2023.
Just under half of respondents said the increase in local marketplaces drove them to become more innovative, while only 11% said their sales were negatively affected. In terms of payments, cards continue to be the dominant means of payment used on online marketplaces, with 57% of respondents using their debit or credit card.
The second-most common consumer journey was for customers to browse online and then purchase in-store at 18%, whereas only 10% of respondents browse in-store and purchase there.A major limiting factor in South Africa’s e-commerce expansion is the dominance of cash as a payment method. He said that even PayShap, a universal payment system meant to lower the barriers for South Africans sending money to one another, has been surrounded by rumours of government surveillance and spending controls.
The study points out that one way to increase the adoption of digital payments is to cater to the needs of all income segments.
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