Great opportunity is developing for business in Africa as the e-commerce market is growing, driven in part by the continent’s demand for international brands. E-commerce is vital for the US$25 trillion (€19 trillion) global retail industry. This was particularly true in the first quarter of 2020, as Covid-19 lockdowns around the world drove a rise in online shopping.
Countries with growing middle-class, urban populations such as China, India, and South Africa are seeing a rise in demand for e-commerce. Zooming in on Africa, research projected that consumer spending would reach US$2.1 trillion by 2025, the region’s “single largest business opportunity”. Millennials in particular are driving this trend and opportunity exists for international sellers to make the most of this demand.