Cairo – Mubasher: Oxford Business Group expects Egypt’s e-commerce penetration of total retail sales to increase by 33% year-on-year (YoY) to $3 billion by 2022, the Middle East News Agency (MENA) reported on Sunday.

The remarkable increase in e-commerce is due to the rapidly increasing internet penetration rates and growing consumer trust in online vendors.

Earlier, 70% of online purchases were paid in cash on delivery which represented a challenge for e-commerce growth in the region.

With the spread of the coronavirus (COVID-19) pandemic, more customers turned to credit card payments which accounted for 30% from 16% before the pandemic.