According to the latest report by IMARC Group, titled “Africa E-Commerce Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the Africa e-commerce market is expected to grow at a CAGR of 26.5% during 2023-2028. E-commerce is an activity comprising the buying and selling of goods and services electronically over the internet. It also includes booking tickets, online auctions, internet banking, payment gateways, and marketplace services and customer support. As it provides numerous benefits to the seller, including a global reach, higher margins of profit, minimal transaction costs, quick delivery of goods and services, and direct communication between different parties involved, its demand is escalating in Africa.
Africa E-Commerce Market Trends:
The increasing penetration of the internet, along with the boosting sales of smart devices, represents one of the key factors resulting in the proliferation of e-commerce platforms across Africa. Additionally, with the coronavirus disease (COVID-19) outbreak and the growing adoption of social distancing measures, a significant part of the population in the region is shifting from brick-and-mortar retail outlets towards online stores. These stores offer a hassle-free shopping experience, which is driving the overall market. Apart from this, the introduction of various digital trends in the retail sector to increase product sales is strengthening the growth of the market. Moreover, the rising integration of e-commerce platforms with artificial intelligence (AI), predictive analytics, and cloud computing is bolstering the market growth. Furthermore, the growing number of international companies are expanding in the region and offering a positive outlook to the market.
- On the basis of the business model, the market has been segmented into B2C, B2B, C2C, and others.
- Based on the model of payment, the market has been segregated into payment cards, online banking, e-wallets, cash-on-delivery (COD), and others.
- The market has been analyzed on the basis of the service type into financial, digital content, travel and leisure, e-tailing, and others.
- On the basis of the product type, the market has been divided into groceries, clothing and accessories, mobiles and electronics, health and personal care, and others.
- Country-wise, the market has been classified into South Africa, Nigeria, Egypt, Morocco, Kenya, and others.
- The competitive landscape of the market has been examined, with some of the key players being Alibaba Group, Amazon.com, Inc., Avito Holding AB, Bidorbuy.com Inc., DHL International GmbH, DealDey Ltd., eBay Inc., GumTree.com Limited, Jiji Press Ltd., Jumia Technologies AG, Konga Online Shopping Ltd., Naspers Ltd., and OLX Group.
|Base Year of the Analysis
||Business Model, Mode of Payment, Service Type, Product Type, Country
||South Africa, Nigeria, Egypt, Morocco, Kenya, Others
||Alibaba Group, Amazon.com, Inc., Avito Holding AB, Bidorbuy.com Inc., DHL International GmbH, DealDey Ltd., eBay Inc., GumTree.com Limited, Jiji Press Ltd., Jumia Technologies AG, Konga Online Shopping Ltd., Naspers Ltd., and OLX Group
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