E-commerce is defined as the buying and selling of goods and services over the internet.
With the increased accessibility and coverage of the internet globally, including in rural areas, the ability to buy and sell goods in a digital marketplace has never been more appealing than now, especially in a post-covid world.
Showcasing your goods digitally has become an increasingly attractive avenue for income not just as a supplementary source to your primary job but even as your main business in and of itself.
The main benefits of e-commerce are:
- Faster Buying process, you are able to buy and sell goods from the comfort of your own home with just an internet connection
- Selling goods is much cheaper. You don’t need to own a physical store and can instead create your “digital storefront” online
- You are able to buy and sell goods globally. You are not restricted to your local area.
- Can easily engage and respond with buyers and sellers – easier to receive feedback and advice
- Customise and change your store listings with ease
- Can accept a variety of different payment methods with ease so you can ensure your customer is able to pay and you can receive your payment efficiently.
With a huge population, Africa is best positioned to capitalise on the e-commerce wave that is building across the continent. Buyers and sellers alike will be able to take advantage of innovative e-commerce marketplaces, smartphone solutions, and a variety of local payment methods to truly capitalise on the power of e-commerce. It is certainly an exciting time for e-commerce participants.
Some of the drivers that will speed-up e-commerce will be:
- Access to no-code and low-code solution so that anyone can get their business online and can start selling their goods digitally.
- Affordable access to the internet – as e-commerce relies on the internet.
- Increased education and awareness about the income possibilities from starting a digital store.
It promises to be a very exciting upcoming decade in Africa for e-commerce.