Online Purchases in Ghana hits a record of $3.98bn

Online shopping and online businesses in Ghana have existed for a long time but they hadn’t gained much coverage as it has these days. It is more popular these times than ever before. 

Due to the coronavirus pandemic that struck Ghana in March 2020, most businesses were forced to close down to minimize the spread of the virus. This propelled most businesses to start looking for alternative ways to still market and sell their products and make money even while at home. 

However, after the lockdown, most businesses capitalized on their online platforms and apps to make sales and spread the knowledge about their businesses in their community and beyond. This became the new normal as more and more businesses began to sign up on these online platforms and as such almost everything had been made available for sale online. 

It’s not even surprising again to see businesses with no physical shop whatsoever making millions through their businesses all because their online shop is very much active. 

From shopping apps to shopping sites and even social media, there isn’t a place where you won’t find someone selling something you may need and this has made life somewhat comfortable and flexible for the average Ghanaian.

As a result of its convenience and reliability, more and more people are seen transacting business online rather than in person. According to Kepois, a Strategic Marketing consultancy firm that helps organizations all over the world understand what changes they would need to put in place for progressive success by evaluating the ever-changing digital behavioral patterns of people, the purchase of goods online by Ghanaians reached $3.98billion as at February 2022. 

The figures breakdown( Online Purchase in Ghana)

This figure indicates a year-on-year increase in the purchase of goods online in Ghana by $954million. In their report titled Digital 2022, Kepois stated that the average annual revenue for e-commerce sites from consumer goods purchased online was $511 which marked a year-on-year increase of $55. 

These increments recorded in the total annual amount used in the purchase of consumer goods online can be ascribed to the 1.2million Ghanaians who have joined the total number of Ghanaians making consumer goods purchased online. This puts the current figure at 7.78million Ghanaians who purchase goods online.

In a breakdown of the consumer goods purchased, it was noticed that $1.36billion of the total amount ($3.98 billion) was for electronic gadgets and that constituted 34.17% of the total amount; thus, making it the most purchased online consumer good. 

In second place was fashion (especially clothes) with a total amount of $1.22billion representing 30.65% of the total amount. After these, followed personal and household care, toys, food, furniture, beverages, and physical media, which accounted for $489million, $336million, $316million, $163million, $64.5million, and $28.2 million of the total amount respectively.

A weekly analysis shows 28.2% of the total 7.78m Ghanaians purchasing a product or service online. 11.8% ordered groceries online with 10.2% also purchasing a second-hand item. 8.9% of the total 7.78m consumers too use a buy now, pay later service.

From the statistics above, it is evident that Ghana is indeed going digital and this digitization has surely come to stay. It would be most prudent for businesses and firms to make good use of the consumer market these online platforms bring.

Although we are yet to see a market reaction from the E-Levy bill, the online market in Ghana is still making progress. This is the best time to go digital with your business.