E-commerce has grown remarkably, and now constitutes 25-30 percent of the trade volume in Egypt.
In a statement on Thursday, Eng. Sherif Makhlouf, head of the Communications Committee of the Egyptian Junior Business Association (EJB), stated that e-commerce is the future version of trade in its current form.
Even if e-commerce dropped as the markets reopen around the world, sales will not go below 60 percent of the sales’ volume in the recent period.
The talk about the failure or success of e-commerce is off the table.
Makhlouf pointed out that there is a remarkable growth in e-commerce and expected it to inch near 65 percent in 2021.
He urged passing the e-commerce law and merging the formal and informal markets. He further underscored the importance of developing the national e-commerce strategy.
The development of companies during the pandemic contributed to significant growth of sales.
E-commerce has several advantages including the use of phones, and the ability of that type of trade to boost the market and increase trade exchange. This has a positive impact on economic growth, despite the drawbacks of e-commerce.
The main disadvantage is laying off employees.
Online buyers represent 8 percent of the total number of internet users, knowing that they exceed 48 million users.
The outbreak of the virus pushed millions of users towards e-shopping.
EJB carried out a study that expected a 50 percent growth in e-commerce in the upcoming period. It further noted that the commercial websites present discounts and offers that appeal to consumers.