Article from Business Tech September 4th 2015
New data shows that the average basket size when it comes to online purchases in South Africa stands at around R725 per order.
This is according to local payment gateway, PayFast, which forms part of the SA eCommerce survey results set to be announced at the 2015 eCommerce Awards, next Wednesday, 16 September.
uAfrica.com, a technology company providing cloud based eCommerce services to SMEs across Africa, noted that 2015 marks the 21st official year of eCommerce globally, after NetMarket reportedly recorded the first ever online transaction by selling a Sting CD online, on 11 August 1994.
eCommerce has since come a long way globally – last year the industry globally accounted for $1.5 trillion in sales, and it is expected to top $2 trillion by the end of 2015.
So how does eCommerce compare in South African eCommerce then? According to uAfrica.com, it is still relatively small with a value of between R6-7 billion, but growing at a rate of between 25 and 35% year-on-year.
It accounts for approximately 1% of the retail sector as a whole.
Statistics gathered from over 90,000 respondents during the 2015 South African eCommerce Awards survey showed the following about eCommerce in SA:
- The majority of online shoppers were women aged between 18 to 39;
- The majority of South Africans spend between R250 and R1000 when making a purchase online.
- 33% of those surveyed made 10 or more purchases online per year; and
- 28% of shoppers make online purchases using their mobile phones
Further analysis with PayFast found that:
- The busiest times for online stores was after the 25th of each month;
- The average basket size in South Africa stood around R725 per order; and
- That 70% of all online transactions were paid for with a credit/cheque card.