by AKANI CHAUKE
JOHANNESBURG, (CAJ News) – SMALL and medium-sized enterprises (SMEs) have the potential to tap into the power of technological innovations to level the playing field with larger retailers.
This as Black Friday, Cyber Monday, and the general festive season shopping frenzy are on the horizon.
An executive said as digital transformation continued to drive a revolution in how these businesses operate, compete and serve their customers, these peak shopping periods served as a golden opportunity for growth.
Norman Nyawo, the Head of Merchant Solutions for Business and Commercial Banking at Standard Bank South Africa, holds this view.
“This shift towards digital payment technology is crucial during events such as Black Friday, when long queues and transaction delays can make or break sales success,” he said.
“To this end, solutions such as our recently enhanced solution, SimplyBLU, enable businesses to efficiently manage online payments, ensuring a frictionless experience for customers.”
Nyawo said the bank’s SnapScan offering facilitated cashless, streamlined transactions that boosted customer satisfaction, especially when time is of the essence.
He said by adopting these and other cutting-edge solutions, SMEs were not only equipping their operations with the digital arsenal needed to capitalize on immediate opportunities such as the festive shopping season.
“Technological adoption is a game changer for SMEs and through our merchant solutions, we are able to turn possibilities into opportunities for the vibrant businesses that power Africa’s economy, equipping these businesses with the digital solutions that allow them to compete on an equal footing with larger players,” Nyawo said.
Even beyond Black Friday, Cyber Monday and year-end shopping, the South African e-commerce market has also seen the entrance of fast-rising global online shopping platforms such as Shein and Temu, which are rapidly gaining traction among local consumers.
– CAJ News