Tag: Cart

  • Why shoppers abandon cart online

    Mrs Yeye Arogundade is an online retailer. According to her, one of the problems plaguing online retailers is cart abandonment. But for many buyers, Arogundade said, this is part of shopping.

    Findings by Mrs Arogundade have it that 81percent of online shoppers have left items in a cart and not gone through with a sale. “The most-abandoned product category is apparel” she said. On her online retail platform, 40 percent of respondents have jumped the shipping segment while buying a cloth. Tech is second, at 18 percent, followed by home goods (16 percent). Women are slightly more inclined to abandon their carts than men 41.1percent vs. 37.5percent, she said.

    According to Mrs Arogundade, cost issues are the most cited reason for abandoning a cart; 74percent of respondents included reasons like the final price being too expensive or finding a better deal elsewhere. Very few cited factors, such as too many options (8.9 percent) or poor user experience (7.3percent).

    The “finding a better deal” factor might hold a clue to this behavior. In a June 2017 survey by Jiji.ng, the leading reason for abandoning a cart was simply that digital shoppers wanted to shop around more (45percent). This commitment-phobic attitude is common where hidden fees and delivery charges are the leading motivation to leave a shopping cart.

    Adding an item to a cart signals intent, but some shoppers use digital baskets as a bookmarking tool in lieu of a “save to favourites” button or even to try and trigger a promo email offer.

    According to the same survey by Jiji.ng, add-to-cart rates were on average 9.7percent, and higher for desktop (12.0percent) and tablet (11.5percent) than smartphone (7.6percent). Difficulty with small screens and entering necessary details still hold back mobile commerce.

    Whatever a shopper’s reason for abandoning a cart, it’s a behaviour that seems to be rising according to online retail experts.

  • Cart before the horse

    •Putting higher tariff before reliable billing is not the solution to regular power supply

    Nigerians are again playing audience to another round of power-related conference and communique. At a stakeholders’ interactive forum in Abuja, of generating companies (GENCOs), distributing companies (DISCOs), and an arm of the Transmission Company of Nigeria (TCN), a communique on what the companies see as the solution to the perennial power situation was released.

    Highlights of the communique include calls for the following: a) restatement of the capacity of GENCOs to provide 8,500MW of electricity in the event of improvement in transmission and distribution capacity; b) centralisation of market collection and disbursement of funds based on agreed percentages; c) denomination of gas price in Naira and harmonisation of currency for all transactions in the energy market; d) immediate payment of outstanding N504 billion to GENCOs; e) hike in tariff to make consumers of electricity to pay N70 per KW-hour in contrast to current tariff of N25; and f) immediate payment of debts owed by the ministries, departments and parastatals (MDAs) to DISCOs and for provision of subsidy in the market to support purchase of power from GENCOs.

    None of the demands in the communique is new to observers of the power situation in the country. There should have been no reason for MDAs to owe DISCOs for services provided for them, more so that MDAs have provision for such payment in each year’s budget, in addition to provision for buying and servicing generators that provide electricity in the many hours of electricity outage. In the interest of development of the power sector, it is imperative for this matter to be settled between MDAs and DISCOs, rather than turning it into a source of perennial distraction. Where such debts are verified, as against the usual estimated billing, the government should ensure the MDAs pay.

    Perhaps what is new is lack of description by DISCOs of concrete steps on their part toward improvement of the dismal situation bequeathed by the Power Holding Company of Nigeria (PHCN). For example, the Chief Executive Officer of Association of Electricity Distributors, Azu Obaiya, said towards the end of last year:”Discos are experiencing revenue shortfall on a monthly basis of N38bn. As of June 2016, the MDAs owed the DISCOs N53bn post-privatisation….The books of the DISCOs are so bad that they have no chance anymore to access finance. These books do not reflect the cash flow that is necessary for them to be taken seriously by any lender.”

    By insisting that tariff hike should be a pre-condition for provision of pre-paid meters, DISCOs are again putting the cart before the horse. Such call overturns the basic principle of economics: primacy of supply and demand. Citizens as consumers of electricity have complained continually that the billing system inherited by the DISCOs is not reliable and should be replaced with provision of pre-paid meter to each customer. The government has endorsed such demand. Justification for this has been that equitable and transparent billing process is in the interest of both sides of the economic encounter: supplier and consumer. To insist almost four years after privatisation on increase in tariff before provision of a credible billing system is to take customers for granted.

    We believe that customers are rational in asking for pre-paid meters before any increase in tariff. We also believe that it is about time for all stakeholders in the power sector, including the Federal Government to stop passing the buck. Citizens, like their counterparts in functioning countries, need adequate and constant supply of electricity. Obsessing over causes of the inadequacy of stakeholders has not been able to solve the problem in the power sector, before and since privatisation.

    The energy sector is not the first utility to be privatised in the country. Telecommunications has improved significantly since privatisation. There is no reason why electricity should not be noticeably better than in the regime of PHCN, more than three years after deregulation of the sector. Enough of excuses on the part of stakeholders on this inevitable pre-condition for development. The Federal Government  and post-privatisation energy companies must ‘de-jinx’ this crucial sector.

  • Nigeria prays: Putting the cart before the horse!

    In Nigeria, evil has triumphed since independence, but more especially during the military regimes, starting from General Gowon through Generals Buhari, Babangida, Abacha to Abdulsalam, but especially the last three military rulers. Babangida ruled for eight years and deceived the nation and the whole world by his costly transition that eventually led to nowhere and, of course, the most costly and most cruel of all, annulment of the freest, fairest and most credible election of June 12, 1993. That was the culmination of triumph of evil in Nigeria. The clergy, particularly Archbishop Adetiloye and some others prayed for divine intervention. None came, as evil must triumph in an evil society. That was why Babangida was replaced by another evil of equal weight in General Abacha who waged war against anybody and everybody who wanted annulment of MKO Abiola’s victory reversed. But Abacha died like a poisoned rat! A case of instant justice, you might say. In one of my public comments at that time, I wrote on IBB and Abacha thus: “Abacha is a cruel initiator of pitiless force; Babangida a shrewd, more eager piece of malice”. Abubakar completed the triumph of evil by technically supervising the sudden death of MKO Abiola in his custody.

    It is a matter of bare, brute fact that since the end of military rule in 1999 to this day, evil has had its firm grip on Nigeria where evil triumphs, with little or no opposition from the civilian administration of Obasanjo, Jonathan Goodluck and even to the present administration where evil has continued to triumph, comfortably sitting on the throne of hell (Nigeria). If we go back to 1980 through 1999 to the present time, 2016, we notice that every succeeding year has been worse than the previous year with corruption, impunity, serial killings, kidnapping, criminal insurgencies, extreme poverty and hunger, unnecessary deaths and suicide through nonpayment of salaries, gratuities and pensions to workers on the increase. Yet the nation prays, perhaps more than any other country in the world, usually accompanied by aggressive night vigils in every nook and cranny of the country. It should then occur to us that something is fundamentally wrong. Where and how we have gone wrong, even with the ritual of the famous “Gowon prays”, is that we have put the cart before the horse. In the face of Nigeria’s escalating problems, some clerics, the likes of Pastors Adeboye, Kumuyi, Oyedepo, Olukoya, Areogun, Wale Oke and Prophet Obadare and others ought to have, by inspiration, told the nation: “Let us confess our sins, in pertinence and faith”. The purpose of this order is for the acknowledgement and confession of our sins in penitence, and with humility, for the forgiveness of sins Nigerian leaders – presidents, vice-presidents, national and state assembly members, ministers, governors, commissioners, crooked business men and top political functionaries have committed unabated since independence till the present day. These sins, when added to those of ordinary Nigerian citizens, are probably more serious than those of Sodom and Gomorrah! Now, look at the following passages from the Bible for our consideration:

    Acknowledgement and forgiveness of our sins (Proverbs 28:13): He who covers his sin will not prosper. But whoever confesses and forsakes them will have mercy. Righteousness and reproach (Proverbs 14:34): Righteousness exalts a nation, but sin is a reproach to any people. We cannot live in sin and expect grace of God to abound or multiply (Romans 6:1-2): What shall we say then? Shall we continue in sin, that grace may continue? God forbid. Finally, Confess our sins in order to forgive them (2 Chronicles, 7:14): If my people who are called by my name will humble themselves, and pray and seek my face, and turn from their wicked ways, then I will hear from heaven and will forgive their sins and heal their land.

    It is in the light of the above quotations, and especially, the last one, that I’ll bring up in relation to what the United States of America did, under President Abraham Lincoln, of the need to ask for forgiveness before prayers in order that our subsequent prayers may be heard by the Almighty God. This I have called President Abraham Lincoln’s option, and had recommended it somewhere else, in my write-up “Nigeria’s Sins: Time for atonement, deliverance, restitution and change” (Nation on Sunday, Jan.18, 2015, p66), and even poignantly to Prof Yemi Osinbajo, our Vice-President in an e-mail, for our nation’s consideration. It is Abraham Lincoln’s proclamation of three days of national humiliation, prayer and fasting: Atonement, Forgiveness and Restitution.

    In a document contained in a book titled, Shaping History Through Prayer and Fasting, Abraham Lincoln, as President of United States, had made the above proclamation. His first proclamation (out of three) was requested by a Joint Committee of both Houses and Congress, and the day set aside was the last Thursday in September, 1861. In this proclamation, Abraham Lincoln said: “It is fit and becoming on all people, at all times, to acknowledge and revere the supreme government of God; to bow in humble submission to his chastisements; to confess and deplore their sins and transgressions, in the full conviction that the fear of God is the beginning of wisdom, and to pray, with all fervency and contrition, for the pardon of their past offences, and contrition, for a blessing upon their present and prospective actions”. For this reason, Abraham Lincoln appointed the last Thursday of September, 1861 for the exercise, “earnestly recommending to all people, and specially to all ministers and teachers of religion, of all denominations, and to all heads of families, to observe and keep that day, according to their several creeds and modes of worship, in all humility, and with all religious solemnity, to the end that the united prayer of the nation may ascend to the Throne of God, and bring down plentiful blessings upon the country”.

    I hereby submit that the unending and escalating problems of Nigeria as a troubled nation are a result of its many sins – of commissions and omissions – that could not be overturned by “Gowon Prays” and aggressive night vigils, all which were like putting the cart before the horse, forgetting or simply not knowing that “we cannot continue in sins and expect our prayers to be answered” until we first acknowledge these sins, confess them and then ask for forgiveness. Shall we therefore pray that our leaders and the entire people of Nigeria will humble ourselves before God, acknowledge our sins, ask for forgiveness, turn from our evil, wicked and ungodly ways before we begin to seek the face of God so that He will hear us from heaven, and heal our land called Nigeria? Unless this was done by this or any other administration, as President Abraham Lincoln had done, I cannot see an end to our seemingly intractable problems since independence. If we cannot do this now, perhaps a revolutionary group may spring up to do the needful. We should expect this necessary change by believing that God will always honour his words. For the atheists amongst us, we shall say, in the manner of Voltaire, the French Philosophe, that even if there were no God, we would have to invent one.

     

    • Professor Makinde, FNAL, is DG/CEO,Awolowo Centre for Philosophy, Ideology and Good Governance, Osogbo, Osun State.
  • Cart before the horse?

    Cart before the horse?

    THE Federal Executive Council’s (FEC) approval, last week, of a floating bond for the Ministry of the Federal Capital Territory (MFCT) exemplifies the trouble with our public finance system. FCT Minister Bala Mohammed had, at the end of the weekly executive council meeting, announced that the council had granted approval in principle to his ministry to float a development fund.

    In the words of the minister: “I have craved the indulgence of the Coordinating Minister for the Economy and she has agreed and the council has noted our recommendation to float an FCT Development Fund. That we can float the bond after we have established a sound legal framework with the establishment of the FCT Revenue Board that we can task to float the bond so that we can pay our debts (our emphasis) and do new projects and programmes”.

    The debts here refer to the ministry’s staggering N420 billion liabilities said to have been incurred in the last 20 years.

    Surely, there can be nothing wrong with the quest to explore alternative sources of funds to fast-track the development of the city – if that was the idea. Indeed, we see this as inevitable at some point, given the influx of population into the city and the need to extend vital services to the residents as quickly as possible. And just as the idea of an FCT Development Fund may well be one whose time can no longer be delayed, the main bone of contention is whether debt recycling as proposed in the bond floatation can be said to meet with the criteria of such a fund. This is where we disagree.

    Of course, we understand the attraction to the bond option. Not only are the funds cheaper, they are of longer duration and hence more convenient. However, we do not accept that these should be a licence to crowd the market with all manner of requests. And, as we have seen not too infrequently, it is just as prone to abuse as other sources of funds. And contrary to what is generally believed, the bond option is never a substitute to proper sound financial engineering or discipline; it does not offer guarantees that the proceeds would not be abused.

    And if we may add in this particular instance – nothing in the financial records of the MFCT lends to any optimism that that the funds from the bonds will be better utilised. Its pile of unserviceable debts of nearly two decades would seem to suggest a need for new orientation.

    But that is not the only reason why the bond idea is suspect. Given that no details or specifics are supplied aside general statements of intentions, the quest comes across as woolly. More inexplicable however is the FEC’s blanket approval, even when the so-called legal framework is yet to be in place. The latter seems to us a case of putting the cart before the horse, or rather an instance of working to a pre-determined answer.

    We expect the MFCT to put its financial house in order if it wants to be taken seriously. We do not think it has done enough to overhaul its machinery for revenue collection or even to eliminate avenues for leakages, both of which are vital to shoring up its revenue. A better way is to explore other creative ways to retire its mountain of debts.

    We cannot endorse the idea of digging new financial pit to fill up an existing hole. It is wrong.