15/12/2022
South Africans are embracing e-commerce in a big way, with PayFast reporting that Black Friday and Cyber Monday online transaction volumes surged by up to 30% this year.
If you’re anything like some of South Africa’s biggest retailers, you had a very good Black Friday. Through the course of the annual shopping extravaganza, South African consumers spent billions of Rands, with one spending R400 000 before sunrise and at least two others spending more than R1 million each. But even the most successful of Black Fridays doesn’t come without a few wrinkles.
Local data automation and integration startup, Synatic, has secured an additional $2.5 million (+- R42 million) in a seed extension funding round led by Allan Gray E-Squared Ventures and UW Ventures.
The World Economic Forum believes that as markets become increasingly digital, full SME recovery and success after the pandemic hinges on their ability to expand across borders. However, online SMEs who want to sell to international customers have to keep several factors in mind.
According to a US construction industry study, reworks caused by miscommunication and poor project data cost businesses more than $31 billion in 2018.
09/12/2022
Black Friday 2022 again saw single transactions worth hundreds of thousands of rands in South Africa, while at least two customers spent over a million rand in total on the day.
