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The next online business opportunity in South Africa

Date: April 3, 2022

The next business opportunity is starting an online store by selling your products and services.

Research done by McKinsey and Company reveals that SMEs make up 98% of businesses in South Africa and employ between 50-60% of the country’s workforce. Online stores provide a simple way to reach your market conveniently, allowing you to work with the independence and flexibility of running your own business on a timetable that suits you.

A study done by Deloitte found that more than 70% of South Africans are shopping online. South Africans have more access to advanced digital technology, contactless payment methods, and high-speed internet, and it's becoming clear that they're driving the growth of e-commerce in their country.

Here are some reasons why 2022 is the best year to start an internet business:

The purpose of an online store is to make it easier for customers to find and purchase products. There are many benefits to having a web store instead of a traditional brick-and-mortar one. These include lower overhead costs, increased reach and market share.

Consumers in South Africa are using the internet on their mobile phones at an all-time high.

The integration of wallets, bank apps, and shopping apps has made browsing through virtual shopping isles easier than ever before.

From a survey of 1,000 South African consumers, Mastercard concluded that the online shopping trend will continue to grow as 71% of respondents say they will still shop online post-pandemic scare. .

South African consumers' prioritised convenience of travelling less.

McKinsey found that more than 70% of South Africans want to cut back on transportation and travel costs.

This reduced need to visit a physical store was also identified in research done by Deloitte. They found that 26% of consumers said they do online shopping because it is more convenient.

South African consumers want a personalised shopping experience. Perceived as a means to experiencing unique experiences or special moments that are customized, personalised service is expected from brands.

A Nielsen study found that 93% of consumers expect a brand to personalize interactions and offer relevant information.

As South Africans become more comfortable with the concept of online shopping, their appetites for e-commerce solutions are growing. The last mile delivery options have exponentially expanded and are more reliable

South African are ready to stay home and order, this creates the opportunity for a better selection of online stores to choose from.

In a world when having an online store is increasingly becoming a cost of entry, having one instantly boosts a company's credibility and generates brand loyalty. There are a variety of free online shopping sites where you may sell your items. The Facebook Marketplace is a great location to start selling on the internet for free. Another platform where you may start selling is Bid or Buy.

These online selling platforms give you a great opportunity to start selling online in South Africa with a minimum investment or cash needed.

A lot of businesses do not have an eCommerce website but have a customer database, why not expand your current business online 

For more information on starting an online business

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