Online Sales in South Africa Set To Double By 2014
“This indicates that, globally as in South Africa, online retail is recession-proof for now, while it still makes up a small proportion of total retail worldwide.”
Let me share a bit of recent history with you.
In the UK in 1998 they passed a piece of legislation which made it safe to purchase on the web. In 2000 the total online Sales was £500 000.00 by 2011 it is estimated it will be £67 Billion.
South Africa passed a similar bit of legislation last year and the price of internet access to the population has been steadily dropping along with the supply of unlimited internet.
According to the research posted by World Wide Worx – “The Online Retail in SA 2011 study shows that the total spent on online retail goods in South Africa passed the R2-billion mark in 2010 for the first time. It reached R2,028-billion, growing at 30% over the previous year.
Online retailers are even more bullish about 2011, with the industry consensus pointing to 40% growth this year. This will represent the highest rate of growth for online retail in South Africa in almost a decade.
“This dramatic rise in online retail comes in the wake of an ongoing increase in the number of experienced Internet users in South Africa,” says Arthur Goldstuck, managing director of World Wide Worx and principal analyst for the survey. “Last year there were 3.6-mlilion people who had been online for five years or more. By 2015, that figure will be 6.8-million – almost double the potential e-commerce market of today.”
In 2010, Traditional, physical retail in South Africa reached R561bn, according to Stats SA. This means that online retail still makes up less than half a per cent of total retail in SA: a mere 0.36%. At the same time, however, the growth rate of online retail in South Africa in 2010 was four times that of physical retail: 30% vs 7%.”
The global online retail set to soar from $468 billion in 2009 to an estimated global online retail in 2010 come to an average of about $545-billion to around $1trillion by 2015.
The new maxim is still true, you don’t exist if you are not online as a business. So get online now and call 0843351636 to get your bit of the action.