9/14/2023 0 Comments Shareit web app![]() ![]() Statistics from FNB show that total online sales in 2020 jumped by 55% and another 42% in 2021, driven by increased spending in less traditional e-commerce industries. ![]() In fact, the current global e-commerce market is valued at around $5.5 trillion (R101 trillion), and it is estimated that online retail sales will soon reach $6.7 trillion (R123 trillion) by the end of this year, with e-commerce making up 22.3% of those sales.ĭata from 2022 provided by FNB Merchant Services indicated that the online e-commerce market in South Africa has experienced rapid growth and is presently valued at almost R200 billion annually, with retailers such as Takealot, Woolworths, and Checkers, adapting to evolving consumer trends. Despite many documented market and economic challenges, many brands continue to invest heavily in e-commerce marketing. ![]()
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