In its interim results for the first half of 2024, Nedbank’s has revealed impressive growth for its e-commerce platform Avo SuperShop. Registered users surged by 19% year-on-year to 2.7 million, while gross merchandise value (GMV) grew by 80% across all Avo ecosystems. Launched in 2020, the platform hosts over 24 000 businesses and is now integrated into Nedbank’s Money app, providing clients with enhanced access to digital deals. According to the Nedbank, specific categories within the platform showed remarkable performance, including Avo Home which reported a 53% increase in GMV. Avo Auto grew its GMV by 143%, now supporting over 1 000 dealers with more than 30 000 vehicles listed, while the business-to-business category has seen its GMV increase fivefold since its launch in late 2022. Looking ahead, Nedbank stated that it will continue expanding the Avo SuperShop with new models, channels and insurance offerings, and plans to implement a go-to-market strategy targeting the township economy.
