
Kenya’s Safaricom is the most valuable non-SA brand, study finds
South African brands again dominate the latest Brand Finance Africa-wide study, but several Kenyan brands put in a strong showing.
RETAIL OUTLOOK
By our News Team | 2022
Online shopping’s share of the total retail pie will continue to rise and should comprise a quarter of all retail sales by 2027, says study.
The value of global e-commerce sales will rise to US$5.4-trillion this year, with China and the US alone making up 52% of the figure. This is the prediction of international media agency GroupM.
It adds that nearly 61% of the total ($3.3-trillion) can be attributed to just seven markets: the US, China, Japan, Germany, the U.K., Canada and Australia. By 2027 GroupM estimates e-commerce sales will reach $9.1-trillion in value.
Photo by Mentatdgt from Pexels
The researchers says e-commerce will comprise 19% of global retail sales this year, and make up 25% of global retail sales by 2027.
These and other forecasts are contained in a new study by GroupM entitled ‘E-Commerce and Retail Media Forecast’, which was published last week.
Major e-commerce companies have a near-monopoly
Worryingly for free marketeers, GroupM notes that just 20 major e-commerce companies accounted for more than two-thirds (67%) of global e-commerce sales in 2021. However, the report does predict that over the next one to three years, retail media will likely see greater competition.
According to the research team, retailers who invested in e-commerce capabilities during the pandemic are continuing to target ever greater ratios of e-commerce sales. But retail trends are not solely about e-commerce as, in many markets, physical shopping has made a return.
Analysing the report, the industry website Marketing Dive notes that: “Retail media continues to grow and is now forecast by GroupM to make up more than a tenth of total global advertising spend this year — a piece of the pie that will only increase as it sees a growth rate that exceeds that of all digital advertising.
“The surging spend is commensurate with the frenzied development of retail media networks as brands look to tie their advertising closer to the troves of first-party shopper data that retailers command.”
Read more about the ‘E-Commerce and Retail Media Forecast’ report here.
South African brands again dominate the latest Brand Finance Africa-wide study, but several Kenyan brands put in a strong showing.
Hypothetically, consumers would even go as far as to pay to prevent their personal information being resold to third parties.
The unveiling of the Top 200 brands by the Marketers Association of Zimbabwe culminates in the Superbrand Awards at year-end.
While culture and history still permeate the North African consumer experience, it is also a region undergoing a dramatic evolution.
Company says order-fulfilment software from the US digitises and optimises the picking, packing, staging and distribution of online orders.
Placing goods that are not on promotion next to ones that are being discounted can have both positive and negative effects.
AzamPesa mobile money wallet set to close the gap between urban and rural areas in terms of access to financial products and solutions?
Survey finds people spend a month of their lives waiting for call centre agents to pick up. So insurer unveils ‘#StopHoldMusic’ campaign.
Top brands of the future will not be focused on the products they sell, but rather on serving an ecosystem of stakeholder needs.
Growth is expected to resume in 2023 at more than double the rate of last year, with the retail sector being the biggest spender.
Non-fungible tokens (NFTs) are usually associated with celebrities and market volatility. But there is untapped potential for marketers.