The Nation Newspaper

Category: Shopping

  • NBC gets global recognition

    The Ikeja Manufacturing Plant of the Nigerian Bottling Company (NBC) has received the Alliance for Water Stewardship (AWS) Gold Certification Award.

    This was presented to the plant in recognition of its responsible use of freshwater in a socially, economically and environmentally beneficial way.

    The award was presented by Control Union, Ghana, a global organisation which comprise leading businesses, non-profits, public sector agencies and academic institutions.

    The award positioned the plant as the first receiver of  the prestigious Alliance for Water Stewardship Gold Certification.

    Presenting the award to NB, the Managing Director of Control Union Ghana, Ransford Nyarko, said: “NBC achieved five key criteria stipulated for the certification, including good water governance, sustainable water balance, good water quality, protecting important water-related sources and safe water, sanitation and hygiene for all.”

    In appreciation, the Manufacturing Operations Director for Lagos and West, NB, Mr. Soni Alok,  said the  company had put in efforts to promote water sustainability. According to him, the efforts are line with the Coca-Cola Hellenic Bottling Company Group’s 2025 sustainability commitments.

    The Head of Ecology and Conservation, Lagos State Environmental Protection Agency (LASEPA), Olayinka Omotosho, said the certification was a recognition for Lagos State as this would go a long way to validate the level of compliance to standards in water sustainability operations in the state.

  • International Breweries launches responsible drinking campaign

    To mark the global Beer Responsible Day, International Breweries Plc, Ilesha, Osun State, has begun a campaign on the importance of responsible drinking.

    This is in line with the United Nations Goal 12, which centres on Responsible Consumption and Production. The commemoration was an initiative of IB’s parent company AB InBev.

    Themed “Drink Smart Today, Celebrate Tomorrow – Let’s Champion Smart Drinking Together”, the celebration encouraged consumers, bar owners and the public to make personal commitments around responsible drinking.

    Consumers were educated on the dangers of drinking and driving, harmful effect of underage drinking and consumption of alcohol by pregnant women.

    They were also advised to pace their alcoholic drinks to not more than one drink per hour, eat food before or while drinking alcohol, alternate alcoholic drinks with non-alcoholic beverages while drinking.

    IB Legal and Corporate Affairs Director, Otunba Michael Daramola, said advocating responsible drinking was part of the company’s  objectives.

    “Responsible drinking is one of the key pillars of our business. It is a message that is dear to us and we constantly make out time to communicate this message in our sphere of influence. The turnout of our employees was great and we visited a lot of bars in many communities where we operate to interact with consumers, traders and the general public on the best way to consume alcohol responsibly,” he said.

    This year’s theme was inline with efforts by the Beer Sectoral Group of the Manufacturers Association of Nigeria (MAN) to reduce underage drinking.

    The Beer Sectoral Group to which International Breweries belongs has collaborated with the Collingwood Learning Incorporated and Thespian Theatre to launch an underage drinking intervention programme, tagged Smashed.

  • Fayrouz, Kebbi partner for polo

    A polo tournament has been organised by the Kebbi State Government in partnership with Fayrouz towards the commemoration of the 85th edition of the Argungu Fishing Festival next year.

    At the tournament, Fayrouz sponsored one of the teams which won the Emir of Argungu Cup.

    The festival is a major celebration in the northwestern part of the country.

    Since the inaugural edition of the festival which marked the end of the wars between the Sokoto Caliphate and the Kebbi Kingdom in 1934, it has been a tourist attraction which has drawn over 30,000 fishermen.

    Speaking at the event, Brand Manager, Fayrouz, Freya Doessel, spoke of the brand’s commitment to being a huge part of its consumers’ lifestyle.

    “We have the utmost respect for our customers from this part of the country. Being a part of the build-up to the Argungu Festival is really special for us and we hope we’ve been able to add an extra bit of excitement to the already interesting line up of activities, making it refreshingly different,” She said.

    Dignitaries at the event were Minister of Justice, Justice Abubakar Malami; the Governor of Kebbi State, Alhaji Atiku Bagudu; the Sultan of Sokoto, Sultan Muhammadu Sa’ad Abubakar;  and the Emir of Gwandu and Chairman, Kebbi Council of Chiefs, Alhaji Muhammadu Bashar, among others.

  • Why brands are turning to loyalty programmes

    Loyalty programme is an old strategy that has remained relevant in marketing. With the marketplace saturated with products and services that offer similar value, giving consumers ample options to choose from, a consumer reward programme becomes handy for business owners to increase patronage and improve sales. JANE CHIJIOKE writes

    Busayo Chidozie has been a loyal customer to a particular hair salon for three years. According to her, her affinity with the salon is based on the fact that her hairstylist makes good hairdos, sells quality hair accessories and has helped her to nurture her once- scanty hair back to its fuller state.

    Though expensive, she is willing to patronise the shop than opt for a cheaper one. She never knew that her patronage could earn her a reward. Last month, she received a call from her hairstylist announcing that she was among the selected top five loyal customers.

    It was based on her devoted patronage and referrals to the salon. On getting there, Busayo was presented with a card that allows her to make any hairstyle of her choice twice for free, and also rewarded with a Nexus Rechargeable Fan.

    Busayo said: “It is quite encouraging that my hairstylist has decided to appreciate her customers. It tells me that my contribution is highly valuable. This came unawares to me because she had never done it before.

    “Though once in a while she does a general appreciation where she rewards her customers with souvenirs at the end of the year, this came bigger and made me feel special.”

    The Nation learnt that brands are deploying loyalty programmes as part of strategies to boost customers’ patronage and attract prospective ones, which, at the end, increases sales.

    In a marketing landscape where customers are overwhelmed by choices, which brand to shop from- where to shop-how to shop, gaining customers’ loyalty becomes very important.

    Customers’ picky nature, coupled with the fact that attracting new customers seems more difficult than retaining existing ones, brand owners, retailers, service providers are  innovating ways that would emotionally engage and facilitate repeated purchase behaviour of their customers. One of such ways is deploying loyalty programmes.

    These programmes are marketing strategies designed to offer incentives to customers who frequently make purchase and attract new customers. They come in different forms; point-based, tiered programmes, discount sales, raffle draws, cash rewards among others.

    The competition in gaining a significant market share is getting tougher by the day. Brands, even small and micro enterprises are investing beyond the traditional end-of-the year appreciation to customers.

    As consumers remain relevant to their business existence and are always looking out for best bargain deals, it is not uncommon for brands to logically retain their consumers.

    For instances, aside other deals, SPAR Nigeria has introduced a “Cash- token Promotions”, which rewards customers who shop from N6, 000 and above weekly. They stand a chance to win a cash of N5, 000-N100, 000.

    Though not new in the marketing space, loyalty programmes, experts say, has proven to be one of the most effective tactics inspiring customers loyalty and driving sales.

    “The point-based loyalty programme allows customers to get a reward based on his accumulated points. Customers who participate in it would want to continue making purchase knowing that their points keep increasing at every purchase made.

    “This invariably increases sales,” a Consumer Insight Analyst, Benjamin Adegoke, said, explaining that reward programmes are targeted at boosting customer base and the brand visibility.

    Hear him: “Some consumers are always expectant to get something in return from any business transactions made. They prefer to stick to a brand that offers a loyalty programme, and the ability to earn rewards can actually change their spending behaviour. It will also motivate them to advertise such brand to their close buddies.”

    Adegoke, however, noted that before consumers’ loyalty is established, they must have had a positive experience and satisfaction from the value the brand offers.

    According to a 2019 global research report by LoyaltyOne, a loyalty marketing services firm based in Canada, investment in loyalty programmes are gradually growing.

    It said 69 per cent of C-suite executives have increased their loyalty investment in the past two years. The research revealed that 24 per cent of companies are investing up to seven per cent of their revenue while 47 per cent are investing a minimum of two per cent.

    “Executive teams have seen how loyalty programmes can contribute to company valuation. In fact, loyalty practitioners said their company view loyalty program strategy as an important component of the overall company strategy” said Caroline Papadatos, SVP, Global solutions, LoyaltyOne.

    Indeed, such investment comes with a reward. The research found that loyalty programme participants contribute 43 per cent of companies’  yearly sales. It showed that 95 per cent of companies said consumers who participate in loyalty programmes spend more than non-members annually.

    Corroborating this report, Group Head, Financial and Account, Super Saver Stores, Segun Akinpelu, affirmed that loyalty customers contribute more returns for stores.

    “Loyalty programmes are still very effective. According to our records, more than 50 per cent of our sales this year were from existing loyalty customers. Such programmes increase sales,” he said.

    Also, Mrs Gift Donald, who introduced a three-month promo in her supermarket on Lagos Island, which affords customers to shop for any item of their choice within the range of N2,000, having bought items worth N30,000 and above, has boosted sales for her.

    She noted that customers are always looking out for deals that would benefit them. “So using loyalty programme as a bait to influence their buying culture is necessary,” Gift said.

    Kenneth Godwin, who owns a gift shop at Yaba, Lagos, said consumers’ buying behaviour was changing and it was important for business owners to invest in reward programmes to appreciate them, as it would motivate them to continue buying from a particular brand.

    Some shoppers, who spoke with The Nation, said they preferred brands that offer loyalty programmes to them. They noted that aside the reward they receive, such activities build closer relationship and trust for the brand.

    They also noted that some of the programmes are pricey, as a certain amount of purchase is expected to be made before being rewarded. In the case of raffle draws, some rewards, they said, were insignificant.

  • Trophy, Hero win awards

    Trophy Lager and Hero Larger beers, from the stable of the International Breweries, have received the 2019 Gold Quality Awards in Beers, Water and Soft Drink Category of the Monde Selection.

    For the awards, 2,948 products, including Trophy and Hero, from 90 countries, were featured.

    The Monde Selection is an international body that evaluates tests and awards consumer products with its unique quality label. It is one of the oldest quality institutes in the world.

    The Marketing Director, International Breweries, Ms. Tolulope Adedeji, said: “International Breweries is committed to providing our customers and consumers the highest standard of quality alcoholic and non-alcoholic beverages as spelt out in our food and safety policies.”

    Clearly, this Monde Selection Gold Award is a testimony to the importance our business places on quality and the entire organisation is, indeed, very proud of this feat,”

    Brewery Operations Director, International Breweries, Johan Gouws, reiterated that adherence to quality assurance processes and uncompromising commitment to excellence earned Trophy and Hero lager this commendable recognition.

    “Monde Selection is a world wide selection, which confirmed that the tastes of Trophy and Hero are world class. The award is granted based on after taste, odour, visual aspect, global judgment and packaging, which clearly reflects the commitment of the business in ensuring that the brands promise of an enjoyable, rich and crisp taste to consumers, is entrenched in delivering quality product consistently,” Johan he added.

     

     

  • Experts seek gender balance in marketing communication

    Experts have advocated the need for gender balance in the marketing communication industry.

    They spoke at the at the Women in Marketing and Communications Conference/Awards (WIMCA) themed ‘’Better the balance in the Brands and Marketing Communications Industry” held at Muson Centre, Onikan, Lagos.

    The convener, Joshua Ajayi, said: “The theme is a reminder to us that the race is on for gender-balanced boardrooms, government, workforces, media coverage and income and wealth distribution among others. Interestingly, the industry, the nation, the continent and the world generally have in the few couple of years recorded history-defining achievements in gender balance, though, there is more to be done.”

    Wema Bank Managing Director Ademola Adebise, represented by the bank’s Chief Finance Officer, Tunde Mabawonku, said women in marketing and communications, were great contributors in the industry. He therefore urged them to support themselves, focused on their goals in the quest to ensure that many of them get to the top in their career and to the boardroom.

    Also, MultiChoice Chief Executive Officer John Ugbe explained that his organisation has more women who have risen to the top in their career. He urged other organisations to deploy creative ways in addressing female-related challenges.

    Also,  the Group Chief, Sustainability and Governance, Dangote Industries Limited, Dr  Ndidi Nnoli-Edozien, who spoke on ‘Better the balance in the workplace: equity or equality?’said  women in business were dedicated and that for them to find the way to the top, they should “define and understand the problem, align with a global movement”.

    She advised women to network, support each other and learn to compete favourably with men.

    The event was chaired by SO&U Group Managing DirectorUdeme Ufot.

    The highlight of the event was the presentation of awards to outstanding women in marketing communications.

  • Border closure: The pains, the gains

    As the closure of borders enters the second week, traders, shoppers and other stakeholders recount their ordeals. Stakeholders are, however, confident of good tidings when the exercise is over, JANE CHIJIOKE reports.

    Her forlorn looks say it all. With barely a week to school resumption in Lagos State, Mrs. Stella Chukwu, a mother of four, is unhappy. For over one week, she has been unable to stock her shop at the Iddo market with rice.

    Mrs Chukwu, a trader in local and foreign rice, has been dealt a blow with the restriction of movement across the country’s borders with her neighbours – Benin Republic, Chad Republic, Cameroon, among others.

    The restriction, code named “Exercise Swift Response”, a joint border patrol by the Nigerian Customs Service (NCS), Nigerian Immigration Service (NIS), and the Armed Forces, aimed at ensuring security of the country, has  affected trade between Nigeria and her neighbours.

    Before the closure, Mrs Chukwu  got supplies of foreign rice with little or no capital. She paid back after selling the commodity. Her involvement in foreign rice sales is to augment the small quantity of local rice she sells.  But since the partial closure of the border, she barely has goods to sell. With her trade in doldrums, she has remained concerned about her children’s chances of returning to school due to lack of finance.

    With the borders shut against trade, primary distributors of rice have resorted to the cash and-carry, jettisoning the previous arrangement of selling on credit.

    “Before the closure of the border, Nigerian rice was sold at between N12, 000 and N13,500. I was able to buy 10 bags of Nigerian Rice; now that it has increased to N14,500, how many can I  buy because I don’t have the funds? Some of us here get this foreign rice on credit and pay after selling. That way, we are able to stock up our shops which also attract customers,” Mrs Chukwu explained.

    Now, with barely five bags of local rice and four gallons of 25kg groundnut oil in her shop, she fears the unknown.

    Indeed, the soaring prices of the local and foreign rice have been a devastating reality  for some sellers.  The ripple effect of the closure, this reporter observed, has been unbearable. They complained of hike cost of the goods, paucity of funds and no affordable credit facility to boost their trade.

    Customs smile

    The above captures the mood of most traders and shoppers across the several markets visited in Lagos earlier in the week. Many traders have continued to rue the pains the continued closure of the borders is taking on market activities.

    For instance, last Monday, the Seme Customs Command of the NCS said its revenue in the last two weeks has increased by over N40 million, coming from seizures recorded in the ongoing exercise. The command said its officers seized 269 baskets of fresh tomatoes, fresh pepper and sacks of cucumber and 16 baskets of fresh okro, all perishable products with DPV of N367,471,  imported from the Benin Republic.

    Also seized were 875×50 bags of foreign parboiled rice with Duty Paid Value (DPV) of N15,023,750; 12×25 litres of vegetable oil with DPV of N131,625.90; 6x50kg of refined sugar with DPV of N147,640.50; 535 bales of used clothes with DPV of N17,259,769; 20 parcels of cannabis Sativa with street value of N516,180; 16 sacks of used shoes, belt and ladies bag with DPV of N541,989; 57 pieces of textile wrappers with DPV of N367,778; 65 cartons of poultry products with DPV of N948,333.75; 137×25 litre jerry cans of Petrol with DPV of N287,700; 16 buckets of car paint with DPV of N144,530.40; 11 cartons of galvanised nails with DPV of N99,364.65; 2,566 pieces of currency (in coins) and other foreign currencies; seven cartons of condensed milk with DPV of N78,534.75; four cartons of spaghetti noodles with DPV of N15,678.97; two cartons of tin tomato with DPV of N14,589; and two sacks of coconuts with DPV of N38,714.

    Others include four cartons of body cream, One bag of detergent soap with DPV of N58,913; 20 pieces of sandpaper with DPV of N12,778.50; four television sets; two pieces of television stands with DPV of N187,115.25; four cartons of fuel filter with DPV of N11,669; one carton of motor spare parts with DPV of N134,631; and one piece of gas burner with DPV of N2,137.

    RIFAN gains?

    For local rice growers, stakeholders were convinced that this period provides them the opportunity to increase their output and convince the world that they could meet, if not surpass, the local rice demands. And the association seem to be ready. Obviously in support of the initiative, the Rice Farmers Association of Nigeria (RIFAN) said that over one million metric tons of rice worth $400 million (N145 billion) was smuggled into  the country since the beginning of the year. The body views this as detrimental to local industry.

    RIFAN National Chairman Mr. Mohammed Abubakar said when the partial closure of the borders was viewed either from the trade or security point, the action being coordinated by military and paramilitary forces was commendable.

    He accused neighbouring countries and some multinational companies of conniving to sabotage food security and economic prospects of Nigeria with smuggling through Benin Republic.

    “Only Nigerians eat parboiled in West Africa as others, including Beninois, eat white rice. And so, any parboiled rice imported into Benin Republic is only on transit to Nigeria,” he said.

    Abubakar expressed the delight of members that mills that were producing below installed capacity have started revving up production.

    “Rice paddy that have been lying idle in stores are being milled because distributors are increasing their demand. We are also assuring Nigerians that we, and other rice producers, have the capacity to fill the loophole that absence of smuggled rice would create.

    “We have also committed ourselves in writing to government that we will not take advantage of the situation to increase prices. A bag of 50 kilogramme rice will sell for a minimum of N13,300 and maximum of N14,000,” he stated.

    Biting harder

    At a rice market in Lagos, there were scanty goods in most shops. At Iddo Rice Market, for example, some shops were locked while other shops had few goods.

    Also, at Daleko market, Mushin, Lagos, some shops had few goods. However, the local rice had more prominence than the foreign rice.

    According to Mr Yemi Olowo-Ido, at Iddo Market, the hike in the price of the rice and unavailability of the foreign rice, have put some traders out of business. He explained that traders could not access credit because of the high interest rate; as such, they could only buy few goods.

    His words: “Traders don’t have goods to sell in their shops. That is why their shops are empty. They don’t have money to buy the Nigerian rice at N14, 500 per bag. How many can they buy to sell? Will you rent a shop of over N600, 000 and just have four to six bags of rice in it. They need loans, but the interest rate on collateral is quite high. They can’t afford it.Things are hard. To eat is difficult.

    “Commercial banks used to give us overdraft, but not anymore. To get a loan now is a task; the interest rate is a barrier. We are pleading with these rice companies and distributors to understand our plight. Let there be a win-win agreement because for now, if you don’t have money at hand, you can’t sell Nigerian rice,” he said.

    Corroborating him, a trader at Daleko Market, who preferred anonymity, said since the closure, some traders have been out of stock, because they can’t buy large quantities due to paucity of funds and no business agreement with rice dealers that favour them.

    “We barely make a profit of between N200 and N400. For some of us, who sell foreign rice, most times we collect the goods and pay them back after sales. We do not enjoy local rice dealers.  That is how we have been surviving in the business. Some of us cannot buy from the rice companies because they won’t sell in little quantities nor on credit.  Those who have the money, especially the distributors, buy in large quantities from them and resell to us.  The distributors, in turn, don’t sell on credit to us so we can only buy few bags,” the trader said.

    The Iyaloja of Daleko Rice Market,  Mrs Jumlar Solaja, explained that  as return on investment is important to business, rice millers would not engage in such informal trade of leasing out their goods on credit as they have invested  a lot in  processing  the rice, including buying of rice paddy.

    She urged rice vendors to apply for loans in banks and also take advantage of the Rice Distributors loans, which has seven percent interest rate to boost their trade. As part of reasons for the hike in price of rice, she said they pay N500 as transport per bag.

    She said there was the need for the Federal Government to subsidise the rice paddy for the millers, adding that more rice farmers were needed.

  • Life Lager wraps up 2019 edition of Hi-Life Fest

    Life Lager, the beer brand renowned for celebrating the culture of the South East people has added another landmark achievement to its growing list of successful consumer engagements.

    The 2019 edition of Hi-Life Fest, which is proudly sponsored by Life Lager, was concluded last week.

    The competition, which is in its third year, has been a huge success with various regional knockouts across the south-eastern parts of the country. The search for the next Hi-Life king saw Life Lager head  to cities such as Awka, Asaba, Onitsha, Enugu, and Port-Harcourt. After two months of exciting musical events across these cites, four finalists emerged and competed at the grand finale in Onitsha.

    The judges included actor/singer – David Jones David, renowned dance instructor – Dr. Jude Akaz, highlife legend – Bright Chimezie, and Nigerian music icon – Onyeka Onwenu.

    After a keenly contested showpiece, Chijioke Charles emerged as the winner of the singing category and Ofu Obi Dance Troupe won in the dance category. They were given cheques.

    Expressing his excitement Chijioke Charles  said  “I dedicate this win to God, my family and everyone who supported me, I am lost for words. This is definitely the happiest day of my life and I am so grateful to Life Lager”

    The  Portfolio Manager – Mainstream Brands Nigerian Breweries Plc., Omotunde Adenusi, pontificated on the success of the competition. – “Life Lager is all about progress. Giving these talented acts a platform to showcase their talents has been a thing of joy for us. We believe everyone who has been on this show is a winner and we look forward to seeing how they progress in their careers. We also thank our loyal consumers for constantly coming out to support our contestants, we have thoroughly enjoyed sharing these nights with our consumers and they can expect more of these in the coming years.”

    This finale capped off 12 weeks of sensational music shows across south-east Nigeria. Some of the finest entertainers in Nigeria, such as KCEE, Onyeka Onwenu and Phyno graced the stage with electrifying  performances.

  • Fairs: changing the frontiers for businesses

    Trade shows have become a marketing strategy in business, providing opportunities for business expansion. While it provides a platform for retailers to get new products into the market, it is also an avenue for prospective buyers to get value for the goods purchased at discounted rate, JANE CHIJIOKE writes.

    A lagos resident, Shade Adeola could not hide her detestation for the rising cost of food commodities in the country. The harsh economy has made her more frugal in her expenses. With a family of  six,  feeding the home  has been quite challenging.  But the recent Food and Beverage West African exhibition, which held in  Lagos, appeared to be an opportunity for  her to get the best deals on food items. She has priced some  food stuffs at the open  market, which her N60,000 budget could not  address. But at the exhibition, she bought more items than she could at the open market.

    Among the items bought were three bags of 10kg Semovita at N2,700  each as against N3,000 in the open market;  a 5kg Ofada rice bought at N4,800 against its  open market  price of between N5,000 and N6,000. She also  bought a food blender at N13,000, a difference of N2,000 and N3,000 at open market price, among others. She was also introduced to new products, which she bought to have a trial at home.

    “Coming here for me was to have good discounts on items. Attending fairs has helped me to safe cost.  Though not much difference in the prices when compared with  open market prices, but such discounts have value.  At times with the varieties of products been displayed, you might be tempted to buy even more than what you bargained for,” she said.

    Likewise, Victor Effiong and his wife, who both attended the just concluded Nigerian Baby Fair at Muri Onukola Park, Victoria Island.  They had shopped for baby items at discounted prices, but one thing they valued most was the master classes  on issues around  pregnancy,  child health,  risks involve in having untrained nannies at home and a host of other information offered by exhibitors.

    These are some of the strategies  business owners employ to lure shoppers to patronise their products or services at trade shows. They get to pitch their services or products to a large crowd.

    Exhibitions or trade shows have become key strategy in business promotion. Many business professionals have integrated them into their multi-channel communication strategy to widen their reach to new, old and prospective audience.

    Used to influence sales, fairs provide  unique networking platform for both local and foreign participants. They boost foreign investments, promote locally made goods and afford shoppers the opportunity to shop variety of products at one venue and as well as have a face-to-face  meeting with the manufacturers of such products.

    International trade shows started  in 1977 with the inauguration of Lagos International Trade Fair being organised by the Federal Trade Promotion Board before  the Lagos State Chambers of Commerce and Industry (LCCI) took over in 1986. Since then, other states have  incorporated it to boost their commerce activities  beyond the country.

    It has also continued to attract more businesses to the fair. The  large  visitors that  attend the events can be said to be driving  businesses to break even and make more sales, hence the increasing number of exhibitors at trade fairs.  At the last Lagos trade  fair,  over 2,000 exhibitors, inclusive of the 200 foreign exhibitors that attended the fair. It had about 500,000 visitors.

    At the conclusion of the fair,  ex governor Akinwunmi Ambode  explained that  the variety of products displayed, showed that the country has a lot to offer to the global market, stating that the fair has built new networks, partnerships, investments, employment creation and increased  contribution to the nation Gross Domestic Product (GDP).

    This year, the fair scheduled to hold from  November 1-10th, would play host to 3, 500  local and foreign exhibitors with 500,000 visitors being expected.

    Meanwhile, at 2018 Abuja International Trade Fair, about 1,500 exhibitors and 1million visitors participated.  According to Abuja Chambers of Commerce and Industry (ACCI) Director-General, Tonia Shoyele,  the trade fair has recorded not less than 3,000 exhibitors and 20million visitors in the last 12 years. A continuous increase in participation by business owners is applicable to all other international trade fairs, organised by different states in the country.

    Unlike in the past where trade shows were more or less a function of  state governments, which periodically organise them,  it has gained momentum that hardly a month passes by without exhibition being conducted around the country.  Individuals, banks, hotels, more exhibition companies,  international and local private sectors, among others, now hold fairs, making it almost a frequent business activity in the country.

    It is believed that its value goes beyond the industry sector of the event as it plays a vital role in expanding the economic gains of the foreign participants and boost the visitor’s economy through local and international visitations to the fair. For instance, transportation, hotels, retail and restaurants are direct beneficiaries of trade fairs.

    To have more market access at trade exhibition fairs, most business owners  make quality preparation to ensure that they get the best return on investment. For instance, having more volume of products, creating more publicity of their presence at the fair, opting for space that seems conducive to display their products and having more workforce to attend to customers at the same time.

    Also, they treat shoppers to free tasting of products, practical sessions, discount prices, use canvassers to market products and music among others to endear their products to shoppers.

    Indeed, trade fairs create opportunities for business growth. Some of the exhibitors spoken to affirmed that fairs have  expanded thier market base.

    “There is always a good turnover for me at any fair I attend.  I do sell at least 60 per cent of my products at most fairs.  At  one  of the trade fairs I attended, I made sales of N450,000 because I had customers, who also bought in bulk from me to resell,” said Adesua Steven, a dealer in makeup accessories.

    She noted that though the open competition at fairs make it more challenging  to persuade shoppers to buy  product, “but still, if you can market well,  you will be happy you attended,” she added.

    An exhibitor at the just concluded Nigerian Baby Fair, Mrs Chika Nwuje, noted that the benefit of fairs have been tremendous on her business. Her submission is drawn from the several fairs she had participated in  the past.

    “The business exposure you get is awesome. The after effect of the exhibition is always positive. You get calls, people asking for your service. Some would even traveled down from far distances just to come to you and by extension, your market base gets expanded,” she explained.

    For Chioma, who introduced an already made stew in  sachet at the  Food and Beverage West African exhibition,  noted that  it was well received by consumers and she made much sales at the fair. She added  that  the reception she got encouraged her to continue in the business.

    Similarly, an international exhibitor at this year’s Food and Beverage West Africa, Serge Kponou, from Benin Republic, explained that doing business with Nigerians has been a long desire for him, owing to the fact that the 200 million population offer a viable business opportunity for him. Having established sales partnership with local distributors, he  expressed confidence that his participation at the fair has paved the way for him.

    For an exhibition to take place, at least five stakeholders would be present: the event organiser; the industry sector(s) which the exhibition represents; the host; the exhibitors and the visitors. These last two participants comprises of shoppers, distributors, retailers and prospective business men.

    “All stakeholders in the exhibition sector have vested interest. They evaluate the fair from different perspectives to ascertain the impact of the fair their business and this revolves around profit, sales, exhibitors and visitors’ satisfaction. I must say, most times it has always yielded a positive result, hence the more businesses participating in exhibition fairs,“ said Jide Martins, a trade fair exhibition organiser.

    According to the President of the LCCI, organisers of the annual Lagos International Trade Fair, Mr. Muda Yusuf, exhibitions or trade fairs are important drivers of the country’s economy.

    Speaking on the economic value of the Lagos Trade fair, Yusuf said:  “trade fair offers opportunities for businesses to showcase what they have to both domestic and international audience.  It has helped to project our locally made goods to the outside world as it accounts for percents of products been displayed at the fair.  It has also helped to attract foreign investors into the country and has also provided opportunities to develop joint ventures.

    He said trade fairs  or exhibitions creates an Avenue to build trust. He summited that such marketing channel is the best way to do partnership business as it inspires more confidence. “There is a big difference in seeing the person physically than relying on e-mails or any other social media platforms which is risky. Even with the digital age, face to face marketing still remains relevant.”he said.

    For some business owners, trade exhibition is quite an expensive invtestment for the short period which fairs last.

    On the part of the organisers, putting up an exhibition is capital intensive. The cost of venue, publicity, security, logistics, sourcing for sponsors and exhibitors are some of the areas requiring huge financial input.

    For instance, a Co-organiser of the Agege Mega fair, Mrs Bukola Adedeji, lamented that the N5 million invested in the two-day event could hardly sustain the hosting of the event.

    Buttressing her submission, Yusuf revealed that it cost over N200 million for the LCCI to stage the annual Lagos International Trade Fair, a 10-day exhibition. Also, providing adequate security with the unfavorable wellbeing of the economy are parts of the challenges the fair faces.

    Similarly, the project director, Nigerian Baby Fair, Tolulope Olorundero, disclosed that her firm invested over N20 million in the just concluded Nigeria baby fair held at Muri Okunola Park, Victoria Island.

  • The waning brand loyalty

    Brand loyalty is a factor in products’ existence, especially those that have survived for several decades. But going by a survey conducted by Nielsen Holdings Plc, the era of brand loyalty may be nearing its end. JANE CHIJIOKE writes on the issues involved.

    Youthful Tobi Adewale is loyal to a particular brand of milk. His love for it resulted from an age-long family addiction to this brand. To him, he would rather forgo his beverage than to opt for another milk aside his prefered brand when taking any beverage.  However, his continued love for this brand was  tested when his girlfriend introduced him to another brand.

    Not only did he realise that the new  brand was more cost effective, he realised that it met his taste-bud satisfaction and nutritional requirement. Besides, the newly found milk brand is packaged in various sizes and prices, hence, taking some financial stress off him. “Being the milk my family uses, I have always believed that it is best in the market.  But since I tried the one my girlfriend introduced me to, I realised that there are other good brands out there.  In fact, aside being affordable, I like the taste, smoothness and its availability in local stores in my neighbourhood,” Adewale explained.

    Likewise, Mrs. Omowunmi Asore, a housewife, after nursing three babies with a particular brand of cream, says her love for that particular brand of baby cream has waned. Upon the delivery of her fourth child, Asore said there was a desire for her to try another baby cream product, especially when the cost of her preferred cream has tripled.

    According to the nursing mother, the decision was not just about breaking the norm, it was about exploring other brands, especially when the hardship of economic realities set in. The result of this is that her previous brand is now optional or better still, completely jettisoned.

    Indeed, a report published in June 2019 from a research conducted by renowned global measurement and data analytics company, Nielsen Holdings Plc, indicated that disloyalty levels among consumers are on the rise. It stated that a paltry eight per cent of people consider themselves as committed loyalists to their favourite brands.

    Several factors are said to be responsible for this. For instance, Nielsen’s report said consumers are actively on the lookout for new brands as the gamble of buying new products is de-risked by levers such as rising income levels in developing markets.

    This position summarises some of the reasons brand loyalty is waning. With various brands competing and delivering almost the same value, most consumers now explore other products than being adherents to a particular brand.

    Experts in branding agreed with the exploration theory in the disappearing brand loyalty saga. In taking a position on the subject, they contended that digital discovery was a driver to brand switching. This is considering that the growth of various digital platforms has allowed customers to be armed with necessary information. By extension, brand experts further said today’s consumers are attracted to purchasing behaviours that lead them to product they feel is right and at the right price at any given time.

    A consumer insight analyst, Benson Adegoke, agreed with this position. According to him, consumers are fast changing towards personalised experiences regardless of brand loyalty. Besides, he added, they are open to choices that render same value or “perceived” same value. Yet, Adegoke made it known that price differential, customer service delivery, product quality, among others, also  influence brand shifting.

    “They can be very choosy when it comes to  shopping. They spend  hours looking for the right deal. Others would only consider a product if it  has garnered enough positive ratings and reviews or  it is been recommended to them by their  closest confidants. All these also contribute to brand shifting,” Adegoke explained.

    Still, Nielsen’s study  buttresses other experts’ position on brand shifting. A cursory look into the report indicates that a 46 per cent increase in consumer’s willingness to try new brands they have not tried before. It further showed that 39 per cent of consumers singled out value for money as the key factor influencing their choice of brand; 34 per cent said their choice is about enhanced or superior quality; 32 per cent based their choice on price, while choice based on convenience accounted for 31per cent. Interestingly, only 28 per cent of consumers are influenced by the fact that a brand is well known and trusted.

    Nielsen further clarified that at a regional level, value for money stands out as the key influencer of brand choice in Africa and the Middle East, placing it at 44 per cent.

    “With the overwhelming majority of consumers actively or passively open to unfaithful actions, the risks for brand owners have never been greater. The drag effect of consumer demand for choice will affect existing marketing and product development efforts if brands do not aggressively address disloyalty in the marketplace,” said Nielsen Senior Vice President, Joe Ellis, adding that there was need for more aggressive approach to tackle brand disloyalty.

    Meanwhile, Scott McKenzie, Nielsen’s Intelligence leader, explained that with this increasing number in disloyalty, brands on all parts of the consumer journey still continue to throw money against marketing efforts aimed at holding or growing loyalty without a clear benefit proposal.

    “We think that’s  a mistake that needs to stop being repeated. A helpful lens to determine a new approach may start with considering degrees of loyalty and disloyalty.

    “In all environments, there will continue to be better quality and more quantity on the way. ‘Gaining ground’ or ‘loving the latest’ is the new battleground for brands. Consumers are less likely to form strong, long-lasting bonds with brands, especially when ties may have been weak,” he said.