After months of planning and stress, the Black Friday and Cyber Monday (BFCM) weekend has passed by and has left us all exhausted, relieved and in dire need of a holiday.
According to Shopify’s stats, South African online companies had 5.3 times as many orders on Black Friday than any other day in November. More than 66,5% of South Africans are predicted to have taken part in BFCM – up from 54.6% in 2017, while studies show that consumers began their online Black Friday bargain hunts in September already.
These statistics might seem staggering; one can even say fabricated. However, we can assure you they are not, since we can back up these figures with stats of our own. uAfrica.com recorded a record-breaking number of orders during the BFCM weekend, actually doubling the number of orders that were recorded on our platform during the BFCM weekend last year.
However, the growth is not only during the Black Friday and Cyber Monday period; online shopping in general is on the rise. Although South Africa is still far behind the rest of the world in the eCommerce space, the year-on-year growth of 22% is very promising for this country’s economy. It is predicted that “spending via digital platforms in SA to more than double over the next five years, potentially reaching R42.1 billion by 2023” (Business Day).
Business Day reported that “online spending in SA has more than tripled over the past five years — from R5.7 billion in 2013 to an estimated R18.1 billion in 2018” – exceeding all expectations. Investments, adoption of new shopping channels and clever marketing might be the reason for this. Those figures in itself are positive for all eCommerce retailers… or those who are looking to sell online.
So if you are not operating in the eCommerce space yet, don’t delay; there is still time to get in the game. As for the rest, congratulations for picking an industry that going to shape the future of retail in South Africa.
Sources: www.businesslive.co.za; www.moneyweb.co.za; www.timeslive.co.za; www.businesstech.co.za