To qualify, the South African-based company must have new, non-perishable physical goods ready for sale, the ability to replenish products to meet sales needs and five different products with five units each.
Much has been made about the fact that South Africa has lagged behind the global e-commerce curve. "This is largely due to brands and retailers misunderstanding the potential of e-commerce and perceiving the running of concurrent online and offline businesses as complex," says Nic Robertson, head of New Business Development for Efinity.
The reality is that the country's tally of online shoppers is showing rapid growth year on year. Feature and smartphones are readily available for under R1,000 and, as PWC's 5th Edition of Media Outlook forecasts, roughly 40 million people will have access to the Internet in the next five years.
"The South African e-commerce industry has quickly developed from its infancy. As a mobile-centric country, shoppers begin their purchasing journey anywhere through research online. This could be on the shop floor or the comfort of their home; they are able to compare prices wherever they are and, with the growth of e-commerce, have flexibility in purchasing and delivery online. Brands and retailers must be part of this journey."
Whether you are a major retailer or a boutique brand, an effective e-commerce route is a necessity because that's the way increasing numbers of consumers want and will engage with you. The benefits of an effective e-commerce offering go beyond simply capitalising on activating a different marketing and sales channel.
"Thanks to technology, the omni-retail revolution has quickly surpassed the capacity offered by a single bricks-and-mortar channel. You can guide consumers through their buying journey, as they move from research, through decision-making processes, to their purchase and delivery option."
The online environment provides an unprecedented opportunity to gather richer data about who is interested in your offering, and why. An e-commerce platform enables you to piece together a holistic picture of your customer. "Never before, have brands and businesses had more easy, real-time insights into their customers' buying patterns and habits," says Robertson. "With this information on hand, it becomes far more easy to cross-sell, up-sell, and perhaps, more importantly, understand your customer's needs over the long-term."
Despite all these advantages, there are South African businesses and brands still sweeping e-commerce under the carpet. Robertson acknowledges that this reticence needs to be addressed. "What South African businesses and brands need to do is get online, begin to understand their customer and take that knowledge forward to offer a great omni-retail experience."
With no minimum contracts, integration costs and set-up fees, Efinity is positioned to support small and medium businesses, as well as the larger operations. Its services are used by pure play etailers such as Spree, but it also enables bricks-and-mortar South African businesses to enable their e-commerce offering.
For more information, go to www.efinity.co.za/competition.php.
