As Africa’s retail market continues to grow at a fast pace, news coming from World Wide Worx indicates that there is likely to be an online retail boom in 2015 on the continent spearheaded by South Africa which already has 800 retail sites online.
Between 2000 and 2012, the number of Internet users on the African continent has grown at seven times the global average, to a total of 167 million users. The online sector has also got a huge boost as the banking sector in the region has embraced mobile payments and transactions in their operations.
One thing is for sure, Africa's Retail Industry is on the up, with International retail sectors successfully entering Africa's Retail space. According to Chris Gilmore a retail analyst at Absa Investments, retailers from the developed world have noted that Africa's 40% urbanisation level already tops the Indian rate which is 30% and is not far behind China's 45%.
Africa’s consumer spending is projected to reach 1.4 trillion dollars in 2020 according to the Mckinsey Global Institute.
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