The eServices market in Zimbabwe has been experiencing significant growth in recent years, driven by increasing customer preferences for online services and the growing adoption of digital technologies in the country.
Customer preferences: Customers in Zimbabwe are increasingly turning to eServices for their convenience and efficiency. With the rise of smartphones and internet access, customers now have the ability to access a wide range of services online, from shopping and banking to entertainment and education. This shift in customer preferences is fueled by the desire for convenience, as eServices allow customers to access and utilize services from the comfort of their own homes, without the need for physical visits to brick-and-mortar establishments. Additionally, the ability to compare prices, read reviews, and access a wider range of options online has also contributed to the growing popularity of eServices in Zimbabwe.
Trends in the market: One of the key trends in the eServices market in Zimbabwe is the growth of e-commerce. Online shopping platforms have gained popularity among consumers, offering a wide range of products and services at competitive prices. This trend is driven by the convenience of online shopping, as well as the availability of secure payment options and reliable delivery services. The COVID-19 pandemic has further accelerated the growth of e-commerce in Zimbabwe, as consumers turned to online shopping to meet their needs during lockdowns and social distancing measures. Another trend in the eServices market is the increasing adoption of digital payment solutions. Mobile money platforms, such as Ecocash and OneMoney, have gained widespread acceptance among consumers in Zimbabwe, providing a convenient and secure way to make payments and transfer money. This trend is driven by the high mobile penetration rate in the country, as well as the limited access to traditional banking services in some areas. The government has also taken steps to promote digital payments, including the introduction of a tax on cash transactions, further driving the adoption of digital payment solutions.
Local special circumstances: Zimbabwe faces unique challenges that have shaped the development of the eServices market in the country. The country has a high rate of mobile penetration, with a large portion of the population having access to smartphones and internet connectivity. However, the cost of data remains relatively high, which can limit the accessibility of eServices for some consumers. Additionally, the country's economic challenges, including high inflation and limited foreign currency reserves, can impact the affordability and availability of eServices for both businesses and consumers.
Underlying macroeconomic factors: The development of the eServices market in Zimbabwe is also influenced by underlying macroeconomic factors. The country has been experiencing economic instability in recent years, with high inflation and limited foreign currency reserves. These challenges can impact the affordability and availability of eServices, as businesses may struggle to invest in digital technologies and consumers may face financial constraints. However, the growing adoption of eServices can also be seen as a response to these challenges, as businesses and consumers seek more cost-effective and efficient ways to access and utilize services.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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