Article provided by Payfast
Although the local economy has been hit hard by the strict lockdown measures that came into effect at the end of March, it’s not all doom and gloom for South African businesses. An analysis of our payment data by industry shows that some sectors have seen spikes in online transactions since the lockdown began:
- Grocery stores, supermarkets and bakeries are among the retailers who have benefited the most during the first two weeks of lockdown with a 357% increase in sales.
- The lockdown has spurred growth in the online purchasing and home delivery of pet-care products and essential goods for babies, with a three-fold and six-fold increase in the number of accounts registered in each industry.
- Consumers have increased their packages with internet service providers by 135% since the lockdown began.
- There’s been a 136% increase in fundraising for charitable social services.
As shown above, many businesses have been quick to adapt in order to survive, while others have benefited from more consumers choosing to shop online.
Last week, President Ramaphosa announced that the lockdown in various stages of restrictions is here to stay for the foreseeable future. Here is what you can do to generate an income during this time:
- Continue selling non-essential items that can be delivered post-lockdown.
- Register your offline business on an online voucher platform so that you can sell vouchers that can be redeemed post-lockdown.
- Use our payment request feature to get paid online, without a website.
- Monetise your live streams and video recordings on Quicket’s newly launched pay-gated web streaming feature.
- Stay at the forefront of your customers minds by sending out mailers and social posts promoting special lockdown offers.
- Read our COVID-19 Merchant Survival Guide for other great tips and advice.
Has your business flourished during lockdown, or have you successfully pivoted your business? Email us your story at firstname.lastname@example.org and you could be featured as a case study on our website.