Giant retail chains, big media groups, international investors and enterprising entrepreneurs are pouring millions of rand into South Africa’s fledgling e-commerce market in the hope of reaping rich rewards.

E-commerce accounts for less than 0.5 percent of local retail sales. However, it promises big returns to companies that win the hearts of South Africa’s fast-growing army of internet shoppers. E-commerce revenues are widely tipped to climb more than 30 percent a year for at least the next five years. Current annual revenues are around R2 billion. More importantly, the development of e-commerce is set to be a crucial component in wide-ranging changes sweeping the global retail industry.