Rising opportunity to drive digital payments and customer engagement in retail in South Africa
As one of the more developed economies on the continent, South Africa has one of the largest and fastest growing e-commerce markets on the continent. This has been driven by a relatively larger high-income population and higher internet penetration (54%) together with the adoption of smart devices such as smartphones and tablets. B2C e-Commerce makes up a growing portion of South Africa’s retail sector, accounting for 1.9% of retail revenue in 2017. The market is expected to maintain the 15 % growth rate over the 2017-2021 period as more consumers gain access to the internet.