Local retailers urged to take advantage of e-commerce boom
With another e-commerce boom on the way, a tech entrepreneur has urged South African retailers to take advantage of the online shopping world.
Michael Zahariev says keeping up with rapid changes in the growing sector is a challenge for many local businesses.
His comments come on the back of an Accenture survey, which projected that local business services online will surpass R400 billion by 2025.
However, it acknowledged that about 95 per cent of retail leaders are struggling to adapt to changes in the space.
Zahariev, who's the co-founder of luxury reseller Luxity, says it's important for businesses to reposition themselves for growth.
"The e-comme boom is really only beginning now with all the advancements that are happening with AI and all the opportunities that are going to unlock from; efficiency, marketing and to understanding your customers.
"Now is the time to begin investing and making sure that you have a digital presence, so you are able to take advantage of the upcoming technologies."
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