Essay on Managing Director Of World Wide Worx Arthur Goldstuck
740 Words Jul 1st, 2016 3 Pages
But it hasn’t been smooth sailing for the country’s still fledgeling e-commerce market with a small pool of tech-savvy consumers clicking their way through purchases.
The market is already making gains, with a World Wide Worx report revealing that for the first time since the dawn of e-commerce in South Africa, online shopping is expected to reach 1% of overall retail in 2016. Statistics South Africa figures show that retail trade sales notched up by 3.3% in 2015 compared with 2014 to R762 billion.
Managing director of World Wide Worx Arthur Goldstuck says although the 1% represents a small portion of overall retail, it’s still impressive and indicative of the investments so far made by retailers. “The number also masks the extent to which some major retailers have exceeded the 1% online mark by a substantial margin, compared to the vast majority that are not yet close to the market,” says Goldstuck.
But the market is still underdeveloped. Goldstuck says in other western countries like the US, online retail makes up 10% of total sales while in South Africa is only heading to 1%. “The US is the leading market but on the other hand, it shows how SA is growing,” he says.
He singles out retailers such as Pick n Pay, Woolworths, and an early investor into online channels Edcon Holdings, the…