Cairo – The volume of e-commerce transactions and electronic payments in Egypt reached USD 5 billion this year, according to data from Jumia Egypt, one of the largest e-commerce companies in the country. The survey includes both sales of goods and electronic services, such as the purchase of airline tickets, payment of bank slips, among others.
According to Jumia Egypt CEO Hesham Safwat (pictured above), the e-commerce market in Egypt is promising, as the physical market accounts for 97.5% of Egyptian trade, which indicates the existence of vast growth opportunities in the sector.
Regarding the use of credit cards, Safwat pointed out the new coronavirus pandemic generated an increase in online purchases and, consequently, in the use of cards, causing a 25% increase in their use. The total number of credit cards in circulation in the Egyptian economy is estimated at 30 million, including prepaid cards, said the executive during the launch of “Jumia Black Friday,” the greatest promotional campaign in Egypt from November 5 to 30, under the motto “Black Friday every day.”
The executive reported Jumia, through its campaign, is offering its customers, for the ninth consecutive year, a wide range of high-quality products, with exclusive offers and great discounts, in partnership with thousands of local and international sellers and brands, such as American Eagle, Dove, LC Waikiki, Banque Misr, View, and KFC.
After the outbreak of the new coronavirus, the company observed significant changes in consumption trends in the Arab country, showing an increase in demand for groceries and products for daily consumption, contrary to the period before the pandemic, when electronics and cell phones were on the rise.
Jumia platforms will be laden with discounts throughout November. In addition, the company is offering double points in purchases made on Fridays of the month or using Jumia Primo, a rewards program offering free shipping to its users.
Safwat stated the pandemic has caused people to turn to online stores more often to meet their daily needs, so the company started to supply food products on its platforms.
Safwat emphasized the importance of digital transformation and financial inclusion in Egypt and invited all parties to encourage their customers to take advantage of electronic payment methods in their operations.
Translated by Moein Alaia & Elúsio Brasileiro
