In the past one year, online shopping in Ghana has witnessed a revolution. Multiple online payment gateways, mobile payment operators, and improved governance and fraud protection is increasing the confidence of the consumer. Moreover, with reduced capital investment to open an online store, many businesses are creating more profits online than from their conventional shops.
What is the Potential Market Size for Online Shopping in Ghana?
As is clearly evident from the graph, year on year, Ghana’s number of internet users is growing more rapidly than even the population growth. This is a clear indication that Ghanians are adopting to the internet as the fish adopts to the water. With more people online, the potential customer for online shops is also growing in Ghana.
Internet Users (K)
What is the Potential Competition?
In the last 2 years, Ghana has seen plenty of online stores coming up. However, only a few are able to do good business. Multiple factors are responsible for this, including poorly designed store fronts, lack of back office inventory management, lack of social media engagement tools, lack of use of analytic to take informed decisions.
Popular Online Payment Gateways
The convenience of electronic payments from online storefronts is a big factor to boost the growth of the e-commerce industry. Ghanian Payment Gateway providers and banks are definitely doing a good job in creating a secure electronic payment platform.
What to Sell Online?
Software Books Music Flowers
Electronics Office Supplies
Health Beauty Food Beverage
Toys Video Games Sporting Goods
The Ghana market is absolutely poised for entry for ecommerce ventures. With improved broadband connectivity, secured payment gateways, optimism of people in online shopping, low entry barriers, no competition from large organized foreign players, it is recommended that running an online store in Ghana should not be delayed further.