African Web News - In Brief
- Despite the slow-down in growth of online retail in South Africa, the number of retail web sites has exploded: from 215 at the end of 2001 to more than 700 at the end of 2003. However, the market is dominated by the top eight online retailers, who between them account for about 80% of all online retail sales in South Africa, according to "The Goldstuck Report: Online Retail in South Africa 2004".The survey by World Wide Worx found that online sales by retailers - which exclude property, cars and travel increased by 35% in 2003, but are expected to grow by only 25% in 2004. A total of R341-million in online retail sales was achieved in 2003 a mere 0.14% of the overall retail market in South Africa. Of this, around R66-million in sales, or 20% of online retail, was recorded over the November-December holiday shopping season.