Thriving Demand For E-Commerce In Africa Great Potential For UK Vendors

Africa’s e-commerce market is booming and for good reason: the continent has some newly emerging middle-class consumers looking to get their hands on items they never thought they could afford before.

At the moment, e-commerce is a vital lifeline for the retail industry. While this will always be something that remains constant in the coming years, it did get stronger in recent months. The crackdown on Covid-19 really lit the fire, locking countries down across the globe and forcing people to stay home instead of enjoying their time out seeing other people or places. This meant that for some shoppers, they had no choice other than to stay at home or remain in their homes. Either way, online shopping became a way of life while at the same time guaranteeing success for many businesses focused on e-commerce.

E-commerce service provider Oberlo pointed out that shoppers will spend one in every five dollars shopping online by 2023.

As per a report published by Euromonitor International, there has been an increase in the number of purchases being made by consumers in emerging markets over the years. These include countries with growing middle-class, urban populations such as India, China, and South Africa. The African continent's consumer spending is slated to exceed USD 2.1 trillion in 15 years, indicated a study conducted by McKinsey.

According to Euromonitor International, Younger digital natives totaled more than 25 percent of South Africa’s population this decade, making them the country’s largest demographic group. Even in emerging markets, millennials represented more than 1 billion individuals.

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