Latest news with #WorldWideWorx
IOL News
3 days ago
- Business
- IOL News
A new era for online shopping as Amazon expands product range in South Africa
Amazon has expanded its product offerings in South Africa, introducing groceries, pet food, and health supplements to compete with established retailers Image: File Just more than a year after landing on South African shores with a . domain, Amazon has expended its product range to take on entrenched retailers who have had a virtual presence since the COVID-19 lockdown spurred online and app-based shopping. started as a bookseller in 1995 out of founder Jeff Bezos's garage and, at launch last May, was set to compete with Takealot, and Makro. And now it's playing in the food and over-the-counter medicinal product space. In what the company said on Wednesday is a 'major milestone in Amazon's growth in South Africa,' it stated that it had added groceries, pet food, vitamins, and supplements to its offerings. Adding these categories, it said, 'brings thousands of new non-perishable food items, pet food products, and health supplements to customers across the country'. Amazon's new selection includes both international favourites like Nestle, Red Bull, and Starbucks, and beloved local brands like Beacon, Simba, and Koo, catering to the diverse needs of South African households. The e-tailer, which is globally the fourth most valuable company with a market capitalisation of $2.18 trillion, operates local websites in various countries, including Australia, Canada, India, and Mexico. The 2024 World Wide Worx report, sponsored by Peach Payments, Mastercard and AskAfrika, shows that South Africa's online retail surged to R71bn in 2023, with projections that it will surpass R100bn by 2026. Robert Koen, Amazon MD for sub-Saharan Africa, said, 'since our launch, we've been listening closely to customer feedback, and groceries, pet supplies, and health supplements have consistently been among their top requests'. Early data indicates strong customer interest across all three categories. In groceries, coffee, tea, cereals, pasta, cooking oils, and canned goods are emerging as top sellers. The pet food selection, which includes options for dogs, cats, birds, fish, and small animals, has seen particular demand for premium pet nutrition brands and specialty formulations, said Amazon. Amazon added that the vitamins and supplements category has attracted health-conscious consumers with its comprehensive range of multivitamins, minerals, sports nutrition, and specialty supplements. On launch, the e-tailer said it sought to support local independent companies and, to this end, hosted its inaugural Seller Summit, bringing together over 300 local entrepreneurs at its Cape Town headquarters last month. More than 60% of global Amazon sales stemming from independent sellers. This was preceded, last September, by 'Shop Mzansi', a curated storefront on showcasing unique local products that reflect South Africa's rich and diverse cultures. 'Shop Mzansi' features thousands of products across different categories – including toys, home and kitchen appliances, outdoor and braai, baby, luggage, and beauty. 'Shop Mzansi showcases more than 160 brands from new, emerging, and established South African businesses, each with their own unique story,' Keon said at the time. He added that it will continue adding to the Shop Mzansi selection as it onboard more sellers and helps them list their products. More than 60% of sales in Amazon's stores globally are from independent sellers – most of which are small- and medium-sized businesses. IOL
Zawya
13-03-2025
- Business
- Zawya
New index categorically shows Black Friday is the single-biggest retail bonanza of the holiday period
As the country waits with bated breath to see what the cabinet settles on for a national budget, which will have a big impact on the economic mood of the country, consumer confidence and investor sentiment, retailers are already planning for a bumper 2025 Black Friday and holiday season. Black Friday, by its very nature, generates hype in the media and among retailers. However, a new index proves it is not hollow hype. South Africa's first formal Black Friday Index reveals that Black Friday to Cyber Monday remains the most powerful retail window of the year, according to World Wide Worx and Ecentric Payment Systems. The index shows unequivocally that compared to the full holiday period from the beginning of November to Christmas Eve, Black Friday to Cyber Monday remains the clear peak shopping window, with significantly higher transaction and revenue growth than the rest of the season. The Ecentric 2024 Black Friday Index, which was conducted in a partnership between Ecentric Payment Solutions and World Wide Worx, is based on analysis of data from retail transactions flowing through the Ecentric payment gateway. Payment data analysed excludes that of the grocery sector. Ecentric processes 20% of South Africa's card transactions and serves as a trusted payments partner to 65% of JSE-listed retailers – serving their in-store, online, mobile and omnichannel payments requirements. The index was compiled by independent technology research house World Wide Worx. It measures transaction volume and value generated from Black Friday to Cyber Monday, as a proportion of total holiday retail. As a share of total holiday sales, online transactions for the Black Friday to Cyber Monday period, as a proportion of total transactions surged by 30.4%, rising from 7.9% to 10.3% of total holiday sales. Online revenue as a proportion climbed by 23.8%, increasing from 10.1% to 12.5% of total holiday revenue. In-store transactions as a proportion of total transactions grew by 15.4%, rising from 9.1% to 10.5% of holiday sales. In-store revenue as a proportion of total revenue saw a 109.4% surge, doubling from 5.3% to 11.1% of total holiday revenue. Rory Bosman, Ecentric's Chief Sales & Marketing Officer says the findings are good news for retailers as they provide telling insights that can prepare retailers to make the most of the critical retail period. 'The index makes it clear that the Black Friday weekend stands out from the full holiday shopping period, which runs from the beginning of November to Christmas Eve, in both sales volume and growth. The latest data confirms that retailers who capitalised on this peak moment saw the biggest gains, with online and in-store revenue outperforming the rest of the holiday season,' he says. Of particular interest, is how dramatically the holiday shopping period is shifting. While in 2023 the Black Friday to Cyber Monday period reflected a small upward bump in transaction volume, the biggest shopping days came a week later. 'This is different in 2024,' says Bosman. 'The Black Friday to Cyber Monday period saw a massive leap in transaction volume, compared to a slightly above-average level a week later.' Key insights to capitalise on Black Friday in 2025 and beyond Bosman says there are a number of important lessons for retailers. The first is that e-commerce is more important than ever. 'Retailers seeking to make the most of Black Friday need to prioritise seamless digital experiences and mobile optimisation and exclusive deals,' he says. Importantly, the 2024 Black Friday index proved that in-store retail is enjoying a strong revival. Bosman says that the retailers who benefit the most will be those that invest in immersive experiences such as interactive shopping, festive atmospheres and high-value promotions to attract shoppers. He says consumers demonstrated they respond well to positive in-store experiences. Technology such as augmented and virtual reality could play a pivotal role here. Omnichannel integration is non-negotiable, he says. 'The insights gained from the index tell us that online and in-store integration must be seamless, from inventory to promotions. The retailers that do the best are those that blend online and in-store efforts with consistent messaging, and, importantly, seamless experiences.' Bosman says that data-driven personalisation holds immense potential for retailers seeking to set themselves apart from their competition. 'AI-powered recommendations and targeted deals will set leaders apart. It is vital, in 2025 and beyond, that retailers use data for targeted promotions and flexible fulfillment options.' Get all the insights by downloading the full report from the Ecentric website.
Zawya
11-03-2025
- Business
- Zawya
South Africa's retail frenzy: Black Friday index reveals explosive growth in 2024
Black Friday, by its very nature, generates hype in the media and among retailers. However, a new index proves it is not hollow hype. South Africa's first formal Black Friday Index reveals that Black Friday to Cyber Monday remains the most powerful retail window of the year, according to World Wide Worx and Ecentric Payment Systems. The index shows unequivocally that compared to the full holiday period from the beginning of November to Christmas Eve, Black Friday to Cyber Monday remains the clear peak shopping window, with significantly higher transaction and revenue growth than the rest of the season. The Ecentric 2024 Black Friday Index, which was conducted in a partnership between Ecentric Payment Solutions and World Wide Worx, is based on analysis of data from retail transactions flowing through the Ecentric payment gateway. Payment data analysed excludes that of the grocery sector. Ecentric processes 20% of South Africa's card transactions and serves as a trusted payments partner to 65% of JSE-listed retailers – serving their in-store, online, mobile and omnichannel payments requirements. The index was compiled by independent technology research house World Wide Worx. It measures transaction volume and value generated from Black Friday to Cyber Monday, as a proportion of total holiday retail. As a share of total holiday sales, online transactions for the Black Friday to Cyber Monday period, as a proportion of total transactions surged by 30.4%, rising from 7.9% to 10.3% of total holiday sales. Online revenue as a proportion climbed by 23.8%, increasing from 10.1% to 12.5% of total holiday revenue. In-store transactions as a proportion of total transactions grew by 15.4%, rising from 9.1% to 10.5% of holiday sales. In-store revenue as a proportion of total revenue saw a 109.4% surge, doubling from 5.3% to 11.1% of total holiday revenue. Rory Bosman, Ecentric's chief sales and marketing officer, says the findings are good news for retailers as they provide telling insights that can prepare retailers to make the most of the critical retail period. 'The index makes it clear that the Black Friday weekend stands out from the full holiday shopping period, which runs from the beginning of November to Christmas Eve, in both sales volume and growth. The latest data confirms that retailers who capitalised on this peak moment saw the biggest gains, with online and in-store revenue outperforming the rest of the holiday season,' he says. Of particular interest, is how dramatically the holiday shopping period is shifting. While in 2023 the Black Friday to Cyber Monday period reflected a small upward bump in transaction volume, the biggest shopping days came a week later. 'This is different in 2024,' says Bosman. 'The Black Friday to Cyber Monday period saw a massive leap in transaction volume, compared to a slightly above-average level a week later.' Key insights to capitalise on Black Friday in 2025 and beyond Bosman says there are a number of important lessons for retailers. The first is that e-commerce is more important than ever. 'Retailers seeking to make the most of Black Friday need to prioritise seamless digital experiences and mobile optimisation and exclusive deals,' he says. Importantly, the 2024 Black Friday index proved that in-store retail is enjoying a strong revival. Bosman says that the retailers who benefit the most will be those that invest in immersive experiences such as interactive shopping, festive atmospheres and high-value promotions to attract shoppers. He says consumers demonstrated they respond well to positive in-store experiences. Technology such as augmented and virtual reality could play a pivotal role here. Omnichannel integration is non-negotiable, he adds. 'The insights gained from the index tell us that online and in-store integration must be seamless, from inventory to promotions. The retailers that do the best are those that blend online and in-store efforts with consistent messaging, and, importantly, seamless experiences.' Bosman says that data-driven personalisation holds immense potential for retailers seeking to set themselves apart from their competition. 'AI-powered recommendations and targeted deals will set leaders apart. It is vital, in 2025 and beyond, that retailers use data for targeted promotions and flexible fulfillment options.' Download the full report.
