According to 2019 Online Retail summary, e-commerce in South Africa is projected to reach 1.4% of total retail. This comes on the back of tremendous growth of e-commerce sales year on year, with 2018 seeing a 25% growth from 2017.
Considering the massive double digit growth in an economy that seems to be slowing down drastically, the question shifts from; “Should I invest in e-commerce?” to “Should I reinvest in e-commerce?”
E-commerce has proven to the most stubborn critic of this channel, that it’s here to stay, and it will be a force to reckon with. This means that the conversation has evolved, and nobody is arguing the companies need to transact online. The new contentious topic has become if and when you should reinvest into e-commerce.
A large portion of companies do not reinvest into their e-commerce platforms. It is however critical to keep on optimising, redefining and setting new benchmarks. This is true for every conventional business model, why would it not be the same for online retail?
The world moves fastest in the online world and it is very easy to fall behind the pack when you have a static approach to e-commerce. Reinvestment makes it feasible to stay at arms length with the industry trends and pioneers.