Key regions: China, Japan, Germany, United Kingdom, France
The eCommerce Software market in Tanzania is rapidly developing and expanding, driven by a growing number of internet users in the country.
Customer preferences: Tanzanian customers are increasingly turning to online shopping due to its convenience and accessibility. This trend is particularly prevalent among the younger generation who are more tech-savvy and have greater access to the internet. Additionally, the COVID-19 pandemic has further accelerated the shift towards online shopping as consumers seek to avoid crowded public spaces.
Trends in the market: The eCommerce Software market in Tanzania is experiencing significant growth, with a number of local and international players entering the market. The market is becoming more competitive, with companies vying for market share by offering a range of services such as online payment solutions, delivery options, and customer service. Mobile commerce is also becoming increasingly popular, with many Tanzanians using their smartphones to shop online.
Local special circumstances: Tanzania has a relatively low level of internet penetration compared to other African countries, with only around 13% of the population having access to the internet. However, this figure is expected to increase rapidly in the coming years as the government invests in expanding internet infrastructure and more affordable smartphones become available. Additionally, Tanzania has a large informal economy, with many small businesses operating outside of the formal sector. These businesses are increasingly turning to eCommerce platforms to reach a wider customer base and increase their sales.
Underlying macroeconomic factors: Tanzania has experienced strong economic growth in recent years, with GDP growth averaging around 6% per annum. This growth has been supported by a number of factors, including increased investment in infrastructure, a growing middle class, and a stable political environment. These factors have contributed to a more conducive environment for eCommerce businesses to operate in, as consumers have greater purchasing power and are more willing to spend money online. Additionally, Tanzania has a relatively young population, with a median age of just 18 years old. This demographic is more likely to be tech-savvy and comfortable with using eCommerce platforms.
Data coverage:
The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).Modeling approach / Market size:
The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.Forecasts:
We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.
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