Since 2020, we’ve featured several online stores as case studies on our website that demonstrate the resilience and determination of South African entrepreneurs and business visionaries during the COVID-19 pandemic. Each and every one of them overcame hardship and uncertainty to create something magical – successful online businesses they could proudly call their own.
According to Statista Digital Market Outlook, the e-commerce market is set to grow over the next few years. The growth rate for the next four years (2021 - 2025) is predicted to be 16%. With more people made aware of the ease and convenience of online shopping, investing in an e-commerce business model may be the next big step your business takes. But how do you choose which business model to follow? Let’s look at three aspects which will determine which business model you will adopt.
It goes without saying that e-commerce is here to stay, which means that online returns are also a reality that small businesses must prepare for to keep their customers happy and meet their expectations. The simplicity of click-to-buy must be matched by the speed and convenience of delivering goods and managing customers that want to return their goods as it is a standard part of online business.
How can you ensure that your business handles returns in a way that can save you money and create loyal customers? Explore our handy tips:
An online store is now a need rather than a nice-to-have for your business., Since the COVID-19 outbreak, e-commerce has grown in popularity, and more people are choosing to shop online instead of going to physical stores.
Almost everything may be bought or sold using the internet, including books, electronics, clothing, software, and furniture. E-commerce additionally gives users a platform to purchase or sell anything they want, anytime they want.
Assessing some characteristics of your business before setting up an online store is essential. If you already have a business, you should change it to reflect your new e-commerce initiatives. On the other hand, you should design an e-commerce program if your business is just getting started.
As more and more of our lives move online, it has become critical for businesses to have a presence on the internet. Many people use Google search to find solutions to their pain points and if you don’t have a digital storefront or it looks a bit scruffy then you will be looked over for the next store. But how can you create a digital storefront for your small business? Here are four steps to creating a digital storefront.
We’re almost halfway into the first month of the new year and are all systems go to make the most out of 2023. We’re pretty excited about what’s in store for PayFast and the South African payments industry as a whole. So, for the third year in a row, we’d like to share some of our top payment trend predictions that we believe will make an impact on e-commerce and the digital payments industry over the next 11 months, and beyond.
We’ve identified five trends that share a common theme: convergence; specifically, the integration of payment experiences, shopping platforms and currency. Even though cold hard cash remains the most popular payment method in South Africa, with the growing internet penetration made possible through network infrastructure and smartphones, it’s only a matter of time before more people embrace a cashless society, both online and off. Our five trends outlined below are related to the growing interoperability of payment technology, demonstrating how digital transactions are already influencing all areas of commerce.
Humanity is responsible for countless remarkable inventions that have progressed our development substantially. Obvious examples include the wheel, penicillin, the internet and even prescription eyeglasses that can magically help near and far-sighted individuals see the world with crystal-clear clarity.
Due to the vast amount of people across the world who have weak eyesight, prescription eyewear has become half necessity, half fashion statement associated with sophistication. Yet despite this, many young people feel self-conscious about having to wear a pair of spectacles due to the ridicule they may receive from their classmates. Leandra B Manjate, Founder of the chic eyewear online store Mafastela, was only six years old when she was prescribed her first pair of glasses, so she knows first-hand what it’s like wearing frames she didn’t like.
Many of us are fortunate in that we take for granted how easy it is for us to get our hands on period products. But this is not the case for everyone who menstruates. Globally, at least 500 million people lack access to the facilities they need to manage their periods. In South Africa specifically, 30% of female learners are forced to miss school when on their periods due to a lack of access to period products. Not only does this hinder their educational development, but it violates one of their basic human rights.
2022 once again saw online shoppers come out in full force over the Black Friday and Cyber Monday period. It’s positive to see that many shoppers are still choosing to purchase online despite COVID-19 lockdown restrictions being a thing of the past.
From our live Black Friday Dashboard and other data we collected, total PayFast online transaction volumes for the Black Friday and Cyber Monday period increased by 30% compared to 2021, including a 19% increase in total purchase values overall.
With Black Friday and Cyber Monday perfectly positioned ahead of the festive season, it’s not surprising that online shoppers chose to splurge on items like electronics, appliances, beauty and fashion.
What is Makro Marketplace?
We’ve brought together like-minded sellers to create a marketplace with millions of additional products for our customers to choose from.
The Makro Marketplace is where third-party sellers are able to list and sell new products on www.makro.co.za that are not already available in a Makro store. The seller determines the selling price and Makro facilitates the transaction between the seller and the Makro customer. Makro simply retains a selling commission based on the product category and selling price of the products.