From the early days of trade by barter to the days of online shopping, commerce has come a long way. Consumers no longer have to wait long periods to get their goods delivered or limit themselves to trading within their environs. Now, consumers can place orders from the comfort of their homes and have them delivered in a short time, ranging from a few hours to a few days.
This increase in convenience has led to a corresponding increase in consumer spending. In Africa, the average spending by online shoppers has risen steadily over the years.
How much progress has the industry made?
In 2020, the African e-commerce market was estimated to be worth $20 billion, and between 2014 to 2018, the number of online shoppers on the continent increased annually, at an average growth rate of 18%, higher than the global average of 12%. Continue reading