Africa’s changing shopping trends allow e-tailers to meet evolving expectations

Africa’s changing shopping trends allow e-tailers to meet evolving expectations

The African continent is widely considered retail's next big gold rush, based on its population of 1.4 billion people, which includes more than 500 million internet users and over 330 million e-commerce consumers. Additionally, with 19 of the top 20 fastest-growing countries in the world, the continent's trade landscape is set to become even more attractive for new market entrants and Pan-African operations in the retail space.

Additionally, with 19 of the top 20 fastest-growing countries in the world, the continent’s trade landscape is set to become even more attractive for new market entrants and pan-African operations in the retail space.

Africa’s five largest economies – Nigeria, South Africa, Kenya, Morocco and Egypt – also have the most competitive retail sectors and fast-growing e-commerce industries, largely due to several leading global e-tailers operating across the continent.

According to the McKinsey Global Institute, e-commerce will be worth $75bn by 2025 in Africa’s leading economies, yet this sector also faces numerous challenges, such as a lack of national street address systems in many countries and the expense of last-mile delivery. Additionally, a large portion of the African population remains unbanked.

Infrastructure investment

Other challenges faced by both the formal and informal retail sectors include a shortfall in