Online retail sales see their highest growth on record in April

Amazon CloudFront Edge

Online retailers are seeing Black Friday-like sales due to the impact of the COVID-19 pandemic on their business. According to new data from Adobe’s Digital Economy Index, U.S. e-commerce jumped 49% in April, compared to the baseline period in early March before shelter-in-place restrictions went into effect. Online grocery helped drive the increase in sales, with a 110% boost in daily sales between March and April. Meanwhile, electronic sales were up 58% and book sales have doubled. The data comes from Adobe’s index of the digital economy, which analyzes more…

Read More

Video Gaming market to be valued at $92 Billion in 2020

Video Game

As one of the leading forms of entertainment today, the video games industry continues to generate remarkable profits from its huge player base. The global video games market is set to jump over $92 billion value in 2020, growing by 10.9% year-on-year this is according to data gathered by GCN. With $54.6 billion profit or nearly 60% of that amount, mobile games remain the most significant revenue stream of the global video games industry. Video Games Revenue Increased by $15.56 billion in Three Years In 2017, the global video games…

Read More

COVID-19 is Transforming E-Commerce Globally

Ecommerce startups

Just over 306 million Americans are affected by stay-at-home orders, nearly 95% of the U.S. population. COVID-19 will forever change retailing, and its initial impact on e-Commerce is creating challenges to online selling & service no one imagined in January. The following graphic from COVID-19 Commerce Insight, an Emarsys initiative in cooperation with GoodData show how year-over-year revenue growth comparing the last seven days to the same period last year: Mobile devices are the most popular device for online shopping by a wide margin. 72% of consumers are using mobile…

Read More

KCB Group replaces KPMG Kenya with PwC as its external auditor

PWC KPMG

KCB Group is reported to this Thursday replace KPMG Kenya with PricewaterhouseCoopers (PwC) as its external auditor, dealing a blow to the consultancy after it lost Absa Kenya job last year. The changes now hand PwC audit control of Kenya’s top two banks — KCB and Equity Group. Last year, Equity Bank dropped Ernst & Young for PwC in 2017. KCB audit job has been among the highest payers, with remuneration paid by the lender amounting to Sh55 million in the financial year ended December 2019. Absa Kenya last year…

Read More

2020 survey lists the most admired African brands

Africa brands

The survey which started 10 years ago, is now seen as the most authoritative survey, analysis, and metric of African brands. It is a consumer-led survey that seeks to establish brand preferences across Africa. The respondents of this survey are 18 years and older, in 27 countries which collectively represent 50% of the continent, covering all economic regions and accounting for an estimated 80% of the population and the GDP of Africa. American sports and fitness giant, Nike takes the top spot for the third year in a row. MTN…

Read More

New study reveals new consumer experiences during COVID-19

COVID 19 Read consumer

The era of the coronavirus pandemic has had consumers taking online classes, signing up for trials and subscriptions, and using telehealth. It’s a golden opportunity for service providers, according to a new survey. The April 2020 Amdocs study surveyed 1,000 people in the US, 18 and over, to examine consumer behavior and attitudes in day-to-day life, and how they have changed during the pandemic. The changes in those surveyed also reveal that there are new opportunities for service providers during this time–nearly a third of those surveyed (30%) are now…

Read More

PayPal rolls out a new QR code feature in its app to enhance contactless payments

PayPal Becomes The First Foreign Payment Platform In China

Cash is out and touch-free payments are during the coronavirus pandemic, this Paypal has taken cue and announced a new feature in its mobile app that will let customers make payments at stores, farmers’ markets and just about anywhere else using QR codes. You can scan a code — either from a printout or on a screen — using your phone’s camera. Payment QR codes are already fairly common, with a bunch of companies providing similar features, including Visa, Mastercard and Walmart. The biggest difference is that many existing QR…

Read More

Telegram quits on its cryptocurrency focused subsidiary TON

Telegram

After years of drama with the SEC, Telegram is calling it quits on its crypto-focused subsidiary, Telegram Open Network (TON). “Telegram’s active involvement with TON is over,” wrote Pavel Durov, founder and CEO, in an announcement on his channel. “You may see – or may have already seen – sites using my name or the Telegram brand or the ‘TON’ abbreviation to promote their projects. Don’t trust them with your money or data.” TON was a blockchain platform designed to offer decentralized cryptocurrency to anyone with a smartphone, in a…

Read More

Twiga Foods, Jumia signs deal for Fresh Food distribution during COVID 19 Crisis

jumia twiga foods covid 19 deal

E-commerce platform Jumia Kenya and Twiga Foods have signed a partnership agreement that will enable shoppers on the platform to buy fresh produce as well as processed foods distributed by the farm produce aggregator. Through the deal, shoppers can now buy pre-packed bundles whose cost will range between Sh1,230 and Sh3,180 depending on the goods. The bundles will save customers up to 50 percent compared to average supermarket prices, and consist of items like watermelon, potatoes, tomatoes, onions, bananas, maize meal and processed milk. Delivery will be free in Nairobi…

Read More

Six key areas for getting your business ready for COVID-19

COVID 19 Read consumer

In January 2020 the World Health Organization (WHO) declared the outbreak of a new coronavirus disease in Hubei Province, China to be a Public Health Emergency of International Concern. WHO stated there is a high risk of the 2019 coronavirus disease (COVID-19) spreading to other countries around the world.WHO and public health authorities around the world are taking action to contain the COVID-19 outbreak. However, long term success cannot be taken for granted. All sections of our society –including businesses and employers –must play a role if we are to…

Read More