Improving internet penetration, expanding television viewership base, increasing westernization, and growing supply chain and delivery network to drive Africa teleshopping market through 2023
According to a report released at TechSci Research, “Africa Teleshopping Market By Operation Type, By Category, By Payment Mode, By Source of Order, By Country, Competition Forecast & Opportunities, 2013 – 2023”, Africa teleshopping market is projected to reach $ 139 million by 2023. Rising disposable income, increasing interest in teleshopping, expanding TV penetration, and growing presence and promotion of teleshopping products through other media platforms such as social networking websites and online streaming services are anticipated to driving the region’s teleshopping market over the course of next five years. In 2017, infomercial segment dominated Africa teleshopping market, and the segment is expected to maintain its market dominance through 2023, owing to the availability of discounted products, accessibility to easy payment options, visibility on many local channels across the region, etc.
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In 2017, South Africa, Kenya and Nigeria accounted for the largest share in Africa teleshopping market, owing to rising demand for products sold by teleshopping companies. Cash on Delivery (COD) option dominated Africa teleshopping market in 2017, as consumers have a huge preference for making cash payments and are skeptical about online payments such as credit/debit cards due to security concerns associated with them. According to the United Nations the number of internet users in Africa grew to 388.73 million in 2017 from a mere 4.51 million in 2000. This tremendous growth is expected to further drive the region’s teleshopping market as more and more teleshopping companies are using social media as a platform for their product promotions.
“Teleshopping market in Africa is a very underpenetrated market; however, with increasing penetration of television and increasing availability of products at discounted and attractive prices, the market is expected to grow at a healthy rate in the coming years. Moreover, growing spending power of the region’s women population, increasing influence of convenience while shopping at home and rising expenditure of consumers on discretionary products is anticipated to result in growth opportunities for teleshopping companies in the region during forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“Africa Teleshopping Market By Operation Type, By Category, By Payment Mode, By Source of Order, By Country, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of teleshopping market and provides statistics and information on market structure, size and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in Africa teleshopping market.
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