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INSIDE YOUR BUSINESS: Takealot CEO on the state of e-commerce in SA

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South Africa’s eCommerce sector is rapidly growing now more than it has ever before. In 2020, South Africa eCommerce grew by 66% compared to the year before. This increase was primarily influenced by the restrictions placed on traditional retail stores that led to the reduction of in-store shopping by 30%. While many sectors of the economy were crippled by varying degrees of lockdown in 2020, online retailers experienced a boom in sales as South Africans avoided shopping malls and stores in favor of home deliveries. According to Stats SA, the market share of online retail in South Africa grew to 2.8% in 2020, double the percentage in 2018. While COVID-19 had a role to play, this surge is expected to grow. Much like how the pandemic changed research for the long term, more South Africans got acquainted with shopping online, experienced the convenience of shopping online and may be shopping online more going forward.
2 Nov 2022 2PM English South Africa Business News · Investing

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