4 Black Friday Payment Realities for Merchants
- The South African online retail market is expected to surpass R130 billion this year.
- Online retail is growing at a rate of over 35% in 2024, significantly outpacing physical retail.
- Cart abandonment is primarily driven by a long checkout process and shipping fees, making the checkout experience crucial.
The rapid growth of online retail in South Africa presents a significant opportunity for local businesses to innovate and enhance customer experiences. By focusing on reliable payment solutions and improving checkout processes, retailers can effectively compete with international platforms and capitalize on the expanding market.
