Future of Retail
South African’s are Shopping More Online Thanks to COVID-19, Research Says
South African’s are spending 68% more online now than they were prior to the pandemic, according to a study by Mastercard. Essential items have seen highest surge online with the majority (81%) of SA consumers saying they purchased data, and over half saying they bought clothing (56%) and groceries (54%) online since the pandemic started. According to the research, the times we are living in have also made consumers more generous with nearly a quarter (23%) saying they have donated more to charity than pre-lockdown. Consumers are supporting their favourite local small businesses, with 63% of respondents saying that they are making a conscious effort to shop online at these stores. With fewer opportunities to browse in the stores or on the high-street, social media has emerged as the main p...
3 Predictions for the Future of Retail
For many industries, predicting the future during a pandemic would be difficult – if not impossible. Retail is different. Why? Because COVID-19 has acted as an accelerant for digital transformation – fuelling and amplifying trends that have been creeping in for years. You could even call this “Covid acceleration.” McKinsey recently determined that, over a 10-week period in 2020, digital business penetration had increased by the same amount as in the previous 10 years. So, considering this supercharged digital trend, here are three predictions for retail in the coming year: 1. Automation everywhere The COVID-19 crisis took almost every business by surprise, decimating many which were not prepared for a move to online sales. It has prompted many operational changes that create efficien...
