There is no denying that the past few months have been incredibly difficult for many people, with the COVID-19 pandemic having an impact on jobs, finances, and businesses.
However, when it comes to the latter, it has remarkably not all been bad news. Companies involved in certain sectors have been able to thrive despite everything that has been going on, with new research putting a spotlight on how online retailers might have benefitted in recent months.
Changing behaviors
Bizcommunity.com has reported on the findings of a study published by the credit facility Mobicred at the end of July, which found there had been a shift in behavior when it comes to online shopping in South Africa.
Using data from 2,000 online retailers that accept Mobicred payments, the business found that there had been a 40 percent increase overall in monthly online transactions across the past six months. The site also revealed how the frequency of transacting online grew by over 30 percent, while Mobicred itself saw a 50 percent increase in the number of retailers signing up to use its services.
Such findings have come after a report by McKinsey published in June also hinted that South Africans were embracing online services for shopping. It added that 40 percent of consumers plan to increase their online shopping once the COVID-19 pandemic has come to an end.
A major impact
But while online shopping may be grabbing the headlines at the moment, web-based services are in truth having an impact in many different sectors. The entertainment industry in particular now revolves around the internet, with fresh examples of this emerging all of the time.
For instance, streaming continues to be a key way that many people consume film and TV, and that trend was highlighted by the recent launch of CineMagic in South Africa. According to IOL, the service offers short-form content, including series and movies designed for mobile screens. Streaming is also becoming important in gaming, with Google Stadia giving people access to high-quality titles through a web-based connection. Microsoft is set to launch its own take on the concept in the coming weeks and it will be fascinating to see how that goes on to perform.
Furthermore, the online casino industry is expected to enjoy plenty of success in the years ahead, with Grand View Research predicting the global market will be worth $127.3 billion by 2027. Online Gambling SA highlights how a host of brands are now operating in the space in South Africa, with many offering their services across mobile, tablet, and desktop systems.
Key to many lifestyles
All in all, it is clear that while many parts of the business world may have struggled due to this year’s pandemic, online services appear to have really come into their own.
From shopping to watching films and much more, web-based services are now key to many people’s lifestyles and it will be fascinating to see how such trends develop in the years ahead.
