e-Commerce is Breaking Marketing Walls in Nigeria

THIS IS NEW AND ITS TRENDING IN NIGERIA, LIVESTOCK IS BEING SOLD ON THE INTERNET

Source: Jumia Nigeria

Source: Jumia Nigeria

There are no more walls in marketing in Nigeria as there is practically nothing that can’t be sold over the internet.

As the Eid-el-Kabir celebration gradually approaches, Muslims in Nigeria are gearing up and are earnestly preparing for the holy celebration by purchasing rams which are used to commemorate the event. None Muslims are equally as excited because of the public holiday and plenty of meat that comes with the celebration.

The traditional way of purchasing these livestock is to go to those who rear them (shepherd men) and buy them off of them. Now, ecommerce websites have taken all that trouble away by advertising these animals and doing business online.

Source: Jumia Nigeria

Source: Jumia Nigeria

I could not help my excitement the first time I saw this online and I had to make a purchase to be sure it was not a joke and mine is arriving today.

 I wonder if there is anything that isn’t sold online these days. No more walls, no more barricades, there is nothing that can’t be sold online.

Fast and Nearly Furious

IN A WORLD WHERE TIME IS SEEMINGLY INSUFFICIENT AND LEISURE IS LUXURY, SPEED IS KING.

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Many times, when we see movies containing scenes with high speed car and bikes, high way chases, and speed in combat, we feel that pulsating burst of excitement because it is a reflection of what we actually truly want. Do you remember the last time you waited for a bus for longer than normal, or you had to stand in a long queue for you to get your order, or you tried to open a web page that seemingly took forever to display? I know you do, because I know you remember how you felt – awful.

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No one wants to wait so long for anything anymore which is why every business have adopted the culture of a high speed chase – you need to quickly respond to that customers’ need before your competition does. Everyone is in a race for sustainability and one major way to achieve that is customer centricity. If your business is centered around your consumer, your business is most likely going to stay afloat as it will have the speed and agility to evolve with the consumer as quickly as the cycle takes place. For example, just a few years ago people didn’t have any problem waiting 3 to 4 working days to get an order they made, but now if your business is counting response time on a per second basis, you are bound to lose more customers than you make sales.

This trend is largely evident in the world of digital, where the combination of mobile telephony, online payments, sales data and analytics technology have experienced massive increase in speed in terms of in order and delivery time, and network signal.

This is amazing to say the least. What do you TINK?

Get Ready For the Boom

AFRICA IS ABOUT TO EXPERIENCE A TECHNOLOGICAL BOOM IN TERMS OF RETAIL/ECOMMERCE IN THE COMING YEARS AND THE MOST IMPORTANT QUESTION HERE IS, ARE WE READY?

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More and more African consumers are coming online and their commercial habits are evolving faster than any other demographic in the world. By 2020, consumer spending in Africa is forecasted to exceed USD $1 trillion annually according to McKinsey's Global Institute. It is evident that the African market is ripe for a digital retail boom -Bizcommunity.

This therefore means that, if your store doesn’t have an online outlet yet, you may need to consider the option immediately, otherwise, the future will become the past before you realize it came.

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Buoyed by the availability of high tech smart phones, cheap data, and a very technologically savvy youth market across Africa, online retailing is speedily becoming the future of marketing in Africa. According to a report released by PwC, The Consumer Insight Survey 2019, showed that more Africans purchase products online using mobile devices rather than PCs. Although ecommerce in Africa is currently battling scepticism, a large number of Africans have begun to show trust in purchasing from online vendors.

E-Fro-Commerce

The state of e-commerce in Africa is improving although still battling with old enemies

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What prompted this article was this. Sometime last week I had a group of friends come over and they all attempted to buy something from an ecommerce website at different times and each one of them refused to pay online, they all opted for the pay on delivery option. Before now, they definitely wouldn’t have thought of the option of even buying from an online vendor. The only thing ecommerce websites were good for back in the day was to cross examine prices of a commodity you wanted to purchase – the improvement. However, they still battle with old enemies – trust. Many still don’t believe they can trust tech with their finances let alone some ecommerce website where you wouldn’t be able to get a hold of the vendor.

Source: Yaoota.com

Source: Yaoota.com

It would interest you to know that the number of online shoppers across the continent has grown 18% yearly since 2014—higher than the global average, Africa’s consumer e-commerce market, valued at $5.7 billion in 2017, is less than 0.5% of the continent’s GDP, far below the global average of 4% - quartz.com.

Global Rank

Mauritius 55

Nigeria 75

South Africa 77

Tunisia 79

Morocco 81

Ghana 85

Kenya 89

Uganda 99

Botswana 100

Cameroon 101

Source: qz.com

Mauritius ranks highest in Africa’s ecommerce market followed by Africa’s most populous nation – Nigeria.

This shows that ecommerce in Africa a.k.a e-fro-commerce (in my own dictionary) is the way we’ll all go in Africa as brands continue to build trust and loyalty towards online means of purchase and financial institutions continue to deepen their foot print across the continent by banking both the unbanked and underbanked.

The future is here already, just TINK about it.