The seemingly continuous boom of online services and retail is attributed to the congruence of mobile payment solutions and ecommerce delivery. Added to that, as disposable incomes grow for many Africans, the financial services gap has become more apparent, and opportunities quickly served. Enabling relatively affluent people on the continent to make purchases easier, brings them closer in line to global counterparts in terms of their attitude towards ecommerce.
Consumers are demanding to be able to transact easily with brands and businesses, with a strong affinity for locally sourced products and services. There is an intrinsic "buy local" loyalty that hasn't been muddied too much by the foreign brand invasion; even those multinational players are finding local solutions to local problems.
Local brands shouldn't look to imitate out-dated models of business, or look to closely at what is happening in the "sophisticated" US and European markets. Where the opportunity lies is to create platforms for purchasing goods and services that are localised, to allow transaction portals that meet the requirements of the unbanked, the former cash-only consumer. This impacts your pricing model, your customer service model, and processes that attract loyal, happy and paying customers.
You need to consider how your customers earn their money, how they are paid, when they are paid. You need to consider how they spend their money, how this is prioritised, where and how they will engage with you.
Hear about these strategies at the eCommerce MoneyAfrica 2017 Confex, 22-23 February, CTICC
Click here to register now for a Platinum Delegate Pass.
The eCommerce Africa Confex takes place 22 - 23 February 2017 at the Cape Town International Convention Centre.