The role of supply chains is rapidly changing, driven by a global business movement towards digitisation. Most companies regardless of size are seeking to transform their supply chain functions, with varying degrees of success, as they struggle to keep astride with an onslaught of digital trends that are disrupting traditional supply chain management.
2019 promises, to once again be a year of opportunity and turbulence in equal measure. On the local front, South Africa will continue to emerge from the last decade of turmoil, with increasing hope for international investment, growth and stability. 2019 is also an election year, so our economy is likely to feel the impact of political shenanigans in the run-up to voting day. Internationally, economic changes continue unabated with the USA/China trade war and Brexit, to name a few, likely to create ripples throughout the global economy. Supply chains operate at the heart of most industry, and as such, are impacted by a plethora of trends. Here are a few we are keeping our eye on.
2018 has seen a 19% upsurge in local online sales with South Africans predicted to spend in excess of R45 billion online before the end of the year. This trend is expected to escalate even more over the coming 24 months, with an estimated complete spend of over R60 billion in 2020, which will display a 36% increase as of 2018.
In just under 5 years Black Friday has come to be a major shopping phenomenon locally. This peak shopping day requires months of preparation to fulfil customer expectations when securing their special deals, whether online or in store. Black Friday is said to be the largest consumer day of the year in South Africa, with a record 4.7 million card transactions documented in 2017, of which over 250 000 were online transaction tallying up to over R 2.5 billion worth of credit and debit card retail transactions.