It all started 23 years ago with one Sting CD.
A man named Phil bought an album from NetMarket in Philadelphia on the 11th of August 1994, marking which seems like the first online purchase in human history.
The New York Times had the perfect headline, “Attention Shoppers: Internet Is Open”. Almost two decades later and ecommerce business is booming.
By the end of this year, consumers worldwide will spend about $1.9 trillion on online purchases, according to eMarketer.com.
The obstacles that stopped multiple online shopping sprees from following that one momentous album sale are problems of yesteryear today.
Almost half of the world’s Internet users will be making online purchases by 2018, says Statista.
More people have access to the internet; internet costs are dropping; reputable brands have online stores; payment are easier and more secure; and online shops can often provide better prices, instant customer reviews and free delivery to your doorstep.
As a result, Ecommerce is one of the fastest growing industries in the world according to Ready Cloud, a company that specialises in e-commerce software.
In South Africa the current number of online shoppers is not nearly as impressive as the rapid growth rates.
South Africa’s online spending is expected to increase by a whopping 43% by 2018, according to Ipsos’s 3rd annual study on global ecommerce figures (a study commissioned by PayPal). That amounts to a grand total of R53 billion.
“The growth rate in South Africa is still exceptionally high, coming off a very low base”, explains Arthur Goldstuck, the managing director of the World Wide Worx (a research company focused on South African business tech).
“This indicates that there is tremendous potential in this market for new business models and even underexposed product categories,” he reveals in his interview with Moneyweb.
South African entrepreneurs need to up their game in order to meet the level of ecommerce innovation in established Western markets, says Goldstuck.
Company Partner’s Branding expert, Daniel Coetzee (see portfolio), agrees.
“A lack of knowledge, hampers the level of ecommerce in SA,” Coetzee says.
Coetzee is part of a team of experts at Company Partners who assist Start-Ups with legal documentation and business growth.
“Most people have heard of the concept. They’ve heard of the possibility of turning their website into an online store, but they stay away due to lack of know-how.”
Consequently Coetzee recently launched a turnkey ecommerce service at Company Partners to assist struggling SA entrepreneurs with entering the ecommerce market.
“We offer the foundation and education to empower you to start selling your goods online,” says Coetzee.
This cost-effective service includes a website and an online shop setup, 3 hours of support and a series of online video tutorials.
“The opportunities of selling online are limited to yourself.” With an online shop you can cater to clients outside your usual sphere of influence.
“The best part is, it’s a 24 /7 trading platform. Allowing you to generate more revenue in a day without having to keep those extended office hours.”
To learn more about this ecommerce service, simply just click HERE. A whole new generations of shoppers are waiting for you.