retail tech Archives - AfricaBusiness.com

8Feb

By Africa BusinessNo Comments

South Africa News, Tech

Retail is in the midst of the biggest technology paradigm shift yet: Insights from NRF 2024 New York

By Peter Ludi, Business Development Executive at redPanda Software While the environment for South African consumers will likely improve gradually over the course of the second half of 2024 off the back of better-than-expected inflation figures and an easing of global price pressures, consumer spend will likely remain constrained. This reality means retailers will need to stay ahead of competition to compete for valuable customer spend. As the recent National Retail Federation: Retail’s Big Trade Show held in New York recently proved, the world is entering the digital age in the true sense of the word at breakneck speed, and retailers around the world have no choice but to react, deploy and iterate. The conference, with more than 40,000 attendees, 1000 exhibitors and 450 speakers, is a...

TradeDepot highlights smaller packs and increased food spending as top trends that will shape Nigeria’s retail sector in 2021

TradeDepot, the B2B eCommerce platform for consumer goods in Africa, has today released new insights from its market data that highlights the trends that will shape Nigeria’s retail sector in 2021. According to TradeDepot, the impact of the pandemic, rising inflation, border closures and other issues drove significant changes in behaviour for retailers, distributors and manufacturers in 2020. As the sector settles into the new year, TradeDepot predicts that some of the main trends that shaped 2020 - particularly smaller packaging for consumer goods and increased spending on food and essential goods due to dwindling disposable income and people spending more time at home - will continue to influence behaviour across the market. The retail sector is the third largest contributor to Nigeria’s...

How Black Friday is giving Africa’s economy a lift

It is quite phenomenal how in recent years, both ecommerce players and retailers have used Black Friday to sweep thrifty shoppers off their feet. So much that the shopping event is no longer restricted to a single-day shopping spree but has rather taken over the entire month to become Black November. If you drove around the streets of Nairobi, Lagos and Johannesburg for instance, the number of billboards showing discounted Black Friday sales as well as digital advertisements are proof of the retailers’ craze to maximize consumer spend during the BF period. Undoubtedly, the ripple effect that Black Friday sales have on African economies cannot be overlooked. According to Black Friday Global, a marketing website, Black Friday sales are 1,331% and 1,952% higher than average-day sales in the c...