(PRZOOM - Press & Newswire) Delhi, New Delhi, India, 2007-07-12
- Online retail sale in South Africa is increasing owing to the country’s negligent rate of fake online purchases as well as increasing consumer confidence
Online retail sale in South Africa in third quarter of 2006 reached US$ 23.1 Billion, a 23% increase over US$ 18.8 Billion in third quarter of 2005. For the initial three quarters of 2006, online sales were 24% more compared to the previous period (2005), touching US$ 69.1 Billion.
According to Ryan Bacher, CEO, NetFlorist, the rising victory of the domestic online retail industry could be attributed to a basic change in online retail. Online retailers are devising strategic decisions concerning the way in which they deal as well as interact with ever more advanced online shopping populace.
They are searching for means of bringing them nearer to latest and existing consumers, and searching points of demarcation in a progressively maturing online market, reports All Africa.Com on June 29,2007.
An additional factor inspiring e-commerce in the country is totally negligent rate of fake online purchases. Customers have themselves matured over the years. They have turned more technology savvy, are looking for ways to save themselves time in making purchasing decisions, as well as are open to the use of online dealings to purchase goods. These transactions are generally educated buying decisions owing to the availability of product and pricing information on the web.
"Powerful new search services are driving greater spending activity, and improved personalisation technology is allowing retailers to think more like their customers. Mobile phones and new wireless devices all support e-commerce, and we have to cater to this market," says Bacher.
RNCOS’ recent report “South African Retail Industry Forecast (2007-2011)”, also expected an increase in South African online retail sale. As per the report cash rich-time poor consumers would increase the South African online retail sale in the near future, as they would prefer shopping online in order to save time.
The report further states that the total money spent on online retail goods in South Africa in 2005 was US$ 73.43 Million (R 524.5 Million), up from US$ 61.14 Million (R 436.7 Million) in 2004.
The research report also takes into account other interesting issues and facts that are critical to success of South Africa retail industry, like, the market size and scope of growth of the retail industry in South Africa, the growth prospects and issues related to the industry, the factors driving growth this sector as well as the emerging trends in the South African retail industry.
About RNCOS E-Services Pvt Ltd.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.