IMARC Group has recently released a new research study titled “Africa E-Commerce Market Report by Business Model (B2C, B2B, C2C, and Others), Mode of Payment (Payment Cards, Online Banking, E-Wallets, Cash-On-Delivery, and Others), Service Type (Financial, Digital Content, Travel and Leisure, E-Tailing, and Others), Product Type (Groceries, Clothing and Accessories, Mobiles and Electronics, Health and Personal Care, and Others), and Region 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
How much is the e-commerce industry worth in Africa?
The Africa e-commerce market size reached US$ 241.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 567.6 Billion by 2028, exhibiting a growth rate (CAGR) of 15.3% during 2023-2028.
Industry Overview:
E-commerce, or electronic commerce, refers to the buying and selling of goods and services using the internet as the primary medium for transactions. Central to e-commerce are platforms that facilitate these online exchanges, acting as digital storefronts where consumers can browse, compare, and purchase products. One of the key characteristics of e-commerce is the elimination of geographical boundaries, allowing for a global market reach.
Features such as real-time inventory management, secure payment gateways, and digital shopping carts streamline the buying process. Furthermore, e-commerce platforms often incorporate data analytics tools that enable businesses to track consumer behavior, optimize inventory, and implement targeted marketing strategies.
Customer reviews and ratings also add a layer of social proof, aiding new consumers in making informed decisions. E-commerce is not just limited to retail; it also encompasses other sectors like online auctions, internet banking, and electronic ticketing.
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Africa E-Commerce Market Growth Factors and Trends:
The burgeoning young population and increasing internet penetration are among the key factors driving the growth of the e-commerce market in Africa. Additionally, the presence of various payment options, from mobile money to credit cards, makes online shopping accessible to a wide array of consumers, thereby spurring market growth.
Along with this, the diverse range of products available, from electronics to fashion and groceries, significantly contributes to market expansion. Moreover, advancements in logistics and supply chain management are ensuring quicker and more reliable delivery services, thereby enhancing consumer trust and further propelling market growth across the continent.
Furthermore, the trend toward localized online marketplaces and the growing interest in African-made products are catalyzing the demand for more tailored, yet expansive, product offerings, creating a positive outlook for the market. Other factors like supportive government initiatives, in-depth market research, and rising public awareness about the benefits of online shopping are also bolstering the growth of the e-commerce market in Africa.
Who are the key players operating in the industry?
The report covers the major market players including:
Africa E-Commerce Key Players:
- Alibaba Group (NYSE: BABA)
- Amazon.com, Inc
- Avito Holding AB
- Bidorbuy.com Inc
- DHL International GmbH
- DealDey Ltd.
- eBay Inc. (NASDAQ: EBAY)
- GumTree.com Limited
- Jiji Press Ltd.
- Jumia Technologies AG
- Konga Online Shopping Ltd.
- Naspers Ltd.
- OLX Group.
Market Segmentation:
The report has segmented the market into the following categories:
Breakup by Business Model:
- B2C
- B2B
- C2C
- Others
Breakup by Mode of Payment:
- Payment Cards
- Online Banking
- E-Wallets
- Cash-On-Delivery
- Others
Breakup by Service Type:
- Financial
- Digital Content
- Travel and Leisure
- E-Tailing
- Others
Breakup by Product Type:
- Groceries
- Clothing and Accessories
- Mobiles and Electronics
- Health and Personal Care
- Others
Breakup by Country:
- South Africa
- Nigeria
- Egypt
- Morocco
- Kenya
- Others
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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