Most of us have been either to a physical store or an online shop and at checkout, been provided with the option of acquiring the product without paying the full price at the point of sale (POS). Sounds familiar? Unbeknownst to many, the ability to own a product and slowly pay for it has been...
Welcome to Starbucks, a “bank” that sells coffee. The luxury coffee maker held about USD 1.5 billion of preloaded funds in the 4th quarter of 2021. And if you think USD 1.5 billion is not a huge amount; more than 85% of banks in the USA have less than USD 1 billion in assets. Starbucks...
The last decade has experienced an upsurge in e-commerce adoption, with the e-commerce market size growing to approximately 4.9 trillion USD in 2021. This growth is expected to hit 7.4 trillion USD by 2025. Closely mirroring the growth of e-commerce and by extension facilitating e-commerce transactions are e-wallets. It is estimated that 49% of the...
Neobanks in the African market are solving two problems for the continent’s population. First, neobanks are bringing banking services and products to populations that traditionally did not have access to them such as savings, investments or capital. Access to capital is one of the key hinderances to economic growth and this is a major challenge...
Consumer goods companies are engaged on daily wars against each other to control larger market shares; and this competition is projected to intensify into the future. This war is waged on three major fronts. On the first front, retailers face competition from their suppliers who have finally decided to adopt the direct-to-consumer (DTC) route. These...
The 21st century has brought with it advancements in technology that have affected how people work and operate, and this effect has triggered disruptions across different sectors. One sector that is facing the technology onslaught currently is the banking sector. Technology has moved banking from the traditional banking halls to the customer’s mobile phone or...
Selling directly to consumers is an effective strategy to achieve higher conversion ratios for ecommerce businesses. Direct selling gives more power to the brands to minimize inefficiencies that arise in the traditional supply chain. With e-commerce sales projected to hit 7.4 trillion dollars by 2025, there is a lot of untapped potential for consumer brands...
E-commerce industry has garnered a lot of popularity among consumers since 2010. Consumers are getting more comfortable with to shop online. Looking back from 2014, the e-commerce global market has grown from USD1.3 trillion to USD 4.9 trillion in 2021; partly due to induced demand as a result of Covid – 19 restrictions. E-commerce platforms...
The term industrial revolution used to represent the economic transformation that Britain went through in the 18th to 19th Century. However, as time went by, the term started to represent the process of economic transformation as opposed to a period of time. This economic transformation that the term represents is characterized by technological, cultural and...
A platform is an avenue of exchange where vendors and consumers are able to exchange information, goods or services. In addition, the community that interacts within the platform is as well part of the platform. The community is a key element of a digital platform as the most successful platforms have been able to capture...