The Power of Technology in Making Cross-border Trade Easier

The Power of Technology in Making Cross-border Trade Easier

With a massive shift in retail trends, driven by the growing access to and use of the internet and the new and innovative technologies that support the move towards an online retail environment, consumers are now able to access almost all stores and products through online platforms. Technology has done more than just change how people communicate with one another but has also changed the way people buy and pay for goods and services. E-commerce has revolutionized the way businesses and consumers behave, enabling them to communicate and transact quicker and beyond the range of a physical brick-and-mortar shop.

The Era of E-Commerce

Globally, the e-commerce industry is worth more than $2 trillion. It accounts for a tenth of all of retail sales around the world, according to an IPC Cross-Border E-Commerce Shopper Survey. This growth in e-commerce has been driven predominantly by the growth and popularity of sales via mobile technology. In Africa, the picture looks similar. The prevalence of mobile technology in Africa has allowed e-commerce to emerge as an effective way to buy and sell goods across the African continent. In 2017, e-commerce generated more than $16 billion and is forecast to reach $29 billion by 2020, according to Practical Ecommerce. Africa has recognized the potential in this sector, which is why many countries are now investing in advanced telecommunications infrastructure and internet services.

E-Commerce, Technology and the Logistics Industry

With the trend towards online shopping continuing to grow, both big and small businesses have had to adapt to make sure that they are reaching and meeting the needs of existing and potential customers. This means using technology as an enabler to keep up with customers needs by providing timely information about what customers want to know. In logistics, this has a very specific application. For most customers, information on where their package is and when they can receive it is almost as important as the package itself. Consumers are even prepared to pay more for the same product from a different retailer if it means they will get the item faster.

Businesses will need their logistics to work with them by getting packages to customers as fast as possible after an order is placed, and also being able to communicate with the customer every step of the way. Using technology such as the one TSI Central Station offers makes this possible. For more information on what we do and how we can help your business, send an email to pricing@centralstation.co.za.

 

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