Covid-19 regulations move consumers online
Average eCommerce spend recorded on FNB Merchant devices grew 30% during the first half of 2020, compared to 2019
THE Covid-19 pandemic and regulations to curb the spread of infections have resulted in a shift in consumer behaviour, with many people opting to shop online for essential products and services.
Average eCommerce spend recorded on FNB Merchant devices grew 30% during the first half of 2020, compared to 2019.
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‘The impact is not only on shopping behaviour, but also the manner in which consumers opt to pay for goods and services.
‘For example, when considering franchise food delivery services, very few consumers physically pay via cash or card. Most of the payments are carried out digitally,’ said FNB Merchant Services CEO, Thokozani Dlamini.
Dlamini said those who were still visiting stores for groceries and other essentials, were opting for contactless card payments.
‘Behaviour will and has certainly changed quite rapidly on the back of Covid-19.
‘Transaction volumes have increased at a much faster rate than value, indicating a lot of smaller purchases are being made.
‘Many customers who had reservations about shopping online are beginning to realise that the ease and efficiency outweighs trekking to shops and malls,’ Dlamini said.
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