1. Subscription-based model
On a high level, businesses are implementing a subscription-based model to achieve repeat purchases. This model is the key strategy behind the success of streaming platforms like Netflix, Amazon, YouTube, Spotify and Apple.
However, this model is still new in e-commerce but is fast-growing, according to a McKinsey report on e-commerce consumers. This research shows that 15% of online shoppers have signed up for one or more subscriptions to receive products repeatedly in the United States. In the United States alone, the subscription e-commerce market has grown by more than 100% over the last five years, according to the report. Walmart and P&G have followed this fast-growing trend and launched new subscription businesses.
For Africa, which usually takes after trends from the developed markets, this is a trend e-commerce platform should look out for.