The Nation Newspaper

Tag: clearance

  • Strategy for putting items on clearance

    Merchants need to maximise all available selling space to maintain the highest profit margins possible. To do so, they must implement a process for weeding out slow-selling items and replacing them with newer or more in-demand merchandise. Getting rid of the slow sellers quickly and efficiently requires a well-thought-out strategy for identifying and liquidating them.

     

    Item selection

    Experts have advised that retailers  have a clear-cut method of determining which items they need to discontinue, such as using inventory-control software to show where items rank in their particular product category. Even if an item has sold well in previous years, its failure to outsell other items may be a sign that it is headed for obsolescence. Hanging on to these previously successful items in hopes will rebound they say, could increase inventory costs and tie up precious selling and storage space.

     

    Timing

    Experts have also advised that it is important to review profits for items at the end of their particular selling season to determine slow movers and enhance the success of the clearance sale. For instance, marking down slow-moving park as at the middle of the year will likely yield better results than doing so at the end of the year.  Also, instead of cluttering sales space with out-season merchandise that generates little interest, retailers will have more room in for displaying seasonal items.

     

    Deepest discount first

    To move clearance merchandise quickly, it is wise to offer deepest discount first. The goal is to move discontinued merchandise out and cut losses, not necessarily to turn a profit, so a 50 percent markdown will generate much more interest than a 10 percent markdown. Generally, the slower an item sells, the deeper the retailer   makes the initial discount.

     

    Marketing

    If there are a number of items to clear out at once, experts have said it may be beneficial to hold a storewide clearance sale and advertise it through media outlets. This they say, can increase traffic through store and help build an identity as a source for bargains, if that image suits  overall marketing strategy. If a retailer operates more of an upscale establishment or have only a few clearance items, it is wise to set up a small clearance area or keep items on the shelf and identify them with a “special sale” sign.

  • Three soldiers die in Sambisa clearance

    Three soldiers died during a clearance of 13 Boko Haram hideouts in Sambisa Forest, Borno State, in one week, it was learnt yesterday.

    The Deputy Director, Public Relations 7 Division, Col. Kinsley Samuel, spoke in a statement at the weekend.

    Samuel said six soldiers were injured while dozens of insurgents were neutralised by troops.

    The statement reads: “Troops of Operation Lafiya Dole, in conjunction with Air Force on Operation Deep Punch, in the last one week embarked on clearance operations to dislodge Boko Haram terrorists from their camps.

    “The troops successfully cleared Talala, Ajigin, Mangzum, Abagajiri, Kafa, Dusula, Buk, Malumti and Abula, among others.

    “On Friday, November 10, acting on tip offs that the terrorists were massing up at certain camps on the fringes of Sambisa forest, troops sssadvanced and cleared the insurgents at Shyadawe-Angwan-Fulani, Shyadawe-Angwan-Bula-Musa and Shyadawe.

    “Two gun trucks, three motorcycles, bicycles and a laptop and a vandalised and unserviceable tank were recovered from the camps.

    “The remains of the dead soldiers have been evacuated while those injured are receiving treatment at a military hospital.”

  • Magu, Lawal’s clearance

    President Buhari’s clearance and re-nomination of acting chairman of the Economic and Financial Crimes Commission EFCC, Ibrahim Magu are bound to throw up more puzzles than they intended to resolve. The inability to make public the findings that led to the clean bill of health given to the anti-corruption czar did not help matters.

    For now, we are faced with an off-hand dismissal of the weighty allegations raised in the DSS memo given that the president’s letter only said he had got ‘clarifications’ on the issues for which the Senate declined to screen him for confirmation. This casual treatment has been followed up with preachments and sanctimonies as to why the momentum of the fight against corruption has to be sustained with Magu at the steering.

    A lot has also been heard of a strong lobby to get the Senate approve the re-nomination taking into advantage, the strong majority of the ruling party in that chamber. And in the seeming desperate attempt to cajole the public to accept Magu, a weird impression is being conveyed that without him, that war cannot make any more progress.

    How consistent these are with reality is left to be conjectured. Whether the credibility deficits thrown up by the scandalous allegations would be better served by injecting a new hand into the war or retaining the man whose integrity has been put to question, (Buhari’s clearance notwithstanding) is another kettle of fish.

    In all, the unmistakable impression thrown up is that of a government fighting hard to save face; a careful attempt to cover up the seeming duplicity in the fight against corruption. Hard as the government tries in this direction, it would appear it is already caught up by the dialectics of the situation with little or no room for quick escape.

    For one, the report which the President totally faulted and had to re-nominate Magu, was issued by the DSS, an agency of the same government domiciled in the presidency. If it is really true that there was no basis for the allegations, then it speaks loud about the credibility of that critical agency.

    And for another, it could suggest one or two things. It is either it was done out of mischief and prejudice or some people in the agency had axe to grind with the EFCC helmsman’s and had to concoct all manner of subterfuge to get him out of the way. It could also be a mark of incompetence on the part of the agency for such weighty allegations to have been easily dismissed the way the president did.

    Is it possible that the issues traded by the DSS were mere concoctions? Could the agency have gone out of its way to simulate allegations that only exist in the figment of its imagination? Or does the agency stand to gain anything through a spurious report that is loaded with the frightening prospects of stultifying current efforts at stemming the tide of corruption?  These are the issues to consider. And the way they are perceived will shed more light into the complications thrown up by the President’s clearance of Magu.

    The President should have gone further to make public how the clarifications he got resolved the N40 million apartment said to have been rented and paid for Magu by one Umar Mohammed arrested sometime ago for questionable transactions. We needed evidence that he did not violate the President’s order barring public functionaries from travelling by air on first class. More specifically, evidence that he did not fly Emirate Airlines in first class when he went for the Lesser Hajj would have made the difference.

    It would have equally made better sense for the government to have come out with incontrovertible evidence to countermand the damning allegation that Magu maintains a flamboyant and duplicitous lifestyle- one which portrays him as an anti-corruption czar who harbors no friends but at another level hobnobs with corrupt people. It is vital to know how the President resolved the conclusions of the DSS that, Magu “failed the integrity test and will eventually constitute a liability to the anti-corruption drive of the present administration”.

    It is not a matter of bandying unsubstantiated allegations as put forward by the chairman, Presidential Advisory Committee Against Corruption, Itse Sagay when he said Magu was ‘victimized because he was doing his job very well’ and that people were afraid that he was doing an excellent job and they felt threatened.

    Coming from such a serious mind, Sagay needed to produce further evidence of those who victimized Magu because of fear over their personal safety in the war. Does this reference apply to those whose report he said has now been found “totally untrue and unsubstantiated” or some others outside of it? Definitely, those who can wield such powers must be within the same government. And that makes the matter more confounding.

    The public deserves to know those attempting to victimize Magu and what action if any, the government has taken to punish them for derailing the momentum of the anti-corruption campaign through allegations that have now been dubbed spurious. We needed to know the critical details of such plans and those behind them to reassure the public that these are no mere attempts at cover up. The issue is already in the public domain. Sagay would be helping matters by demonstrating very unambiguously that the allegations bordered on witch-hunting.

    Then, the credibility of the DSS would have been put to question. In saner climes, the turn of events would have seen the authors of that report resigning their positions especially where the report was based on credible intelligence. All the same, the DSS will have to contend with credibility deficits of having authored a report which prima facie looked credible but the government has come out to say lacks merits. That is the purport of the clearance and re-nomination. But that is not the end of the matter.

    The Senate must come in to determine between the President and the DSS who is right in the positions they have taken in respect of the suitability of Magu for the EFCC job. In this regard, the relevant Senate committee must thoroughly conduct an independent investigation into all the issues raised in the DSS letter to it. In this assignment, it should match whatever evidence at its disposal with the reasons adduced by the president for re-nominating Magu for the sensitive job. All issues must be trashed out in the most credible and transparent manner for us to come to terms with the true picture and direction of the much dramatized war against corruption.

    In the case of allegations of misconduct against the Secretary to the Government of the Federation (SGF) Babachir Lawal, the matter is much simpler given that the relevant senate committee which investigated and called on the president to relieve him of his post has all the evidence at its disposal. Already, its chairman, Shehu Sani has cried foul over what he termed the doctoring of the report of the committee.

    The senator has faulted some of the conclusions on which basis the President cleared the SGF of the allegations raised against him. The Senate has to redeem its image by demonstrating very clearly that there exists strong basis for its conclusions in the matter of the SGF and his interest in contracts pertaining to the humanitarian crisis in the north-east.

    Magu’s re-nomination and Lawal’s clearance are at the heart of the credibility test of the anti-corruption campaign. They must be handled in the most credible and transparent manner so that Nigerians can properly tap into the temperament of the anti-corruption campaign. The way they are trashed out will give inkling into whether “corruption is fighting back” through the corridors of the campaign prosecutors or outside of it. It will also address clearly, growing feelings that there exist different sets of laws for different people in this war.

  • Trouble with 48-hour cargo clearance

    Trouble with 48-hour cargo clearance

    Importers and agents are facing difficulties clearing goods at the ports. In this interview with Maritime Correspondent OLUWAKEMI DAUDA, Association of Nigerian Licensed Customs Agents (ANLCA) President Olayiwola Shittu blames it all on security agencies.

    With the economic recession, what is the situation at the ports?

    The recession is affecting everybody. Importation has reduced and what is happening in the port now is what I will call the perfection of the ‘blame game’.  That is what is going on in the ports. The leadership of the security agencies is always playing the ostrich. They see no evil, hear no evil and know no evil. That is why I said what is happening now is the blame game.

    Can you please expatiate on that?

    When an agent is intimidated and frustrated to the level of parting with something in order to get out of the systemic web, and the headship turns round and says the agent is not ‘compliant’ and that the officer would not have been corrupted if not because of the corrupter, which is the agent, you can only imagine the experience.

    I believe that to whom much is given, much is expected. The Federal Government posted these people to the ports for the purpose of revenue generation and prevention of revenue leakages. That is why today in the Nigeria Customs Service (NCS), there is  the enforcement arm and the revenue arm.

    But, they are all the same now. They are all both preventing revenue leakages as well  as ‘generating’ revenue now. Sadly, however, most of the people in the port are more interested in generating the revenue into their pockets, than generating the revenue for the government. Things have gone so bad. It is now worse to the extent that the Nigerian police have taken over the functions of the NCS.

    In what ways?

    When the Customs releases cargoes, the police still turn round, to take the containers to their places, and in one way or the other, ‘uncustoms’ items are found inside. I also think that it is the responsibility of the security agencies and by this, I mean the Customs, police, all of them in the ports, including those who are at present clamouring to be here, and that includes the NESRA, so as to protect the nation’s environment from the dumping of e-waste; the Quarantine, which wants to be in the ports to prevent the smuggling of woods out of Nigeria; as well as the pallets with which you package your imported cargo was not treated abroad before being used to bring in your goods.  Everybody has ‘valid’ varying excuses for wanting to be in the ports, yet the infractions continue.

    How do we stop the infractions?

    The truth is that nobody is genuinely thinking of stopping those infractions over there. It is in their best interest that the infractions are not prevented. Sometimes, it may even seem as if those infractions are deliberately encouraged to happen. But the lies they are selling to the government and the public is that it’s the agent that is corrupting. That was why I started by describing the situation on ground as the blame game.

    But why would an agent want to bribe a Customs officer?

    Maybe not because there is no amount of declaration you do in the port that would satisfy the expectation of the average officer. When the Customs came up with the Pre-Arrival Assessment Report (PAAR), it was supposed to be the final document. Now, if I buy an item from abroad, and my declaration is that it is $5, on the submission of that document, the bank is supposed to do its verification from their side and confirm the cost of the item. However, by the time they receive it in PAAR office, they are also supposed to do their own due diligence and if they confirm it is $5; they should issue a PAAR as a good facilitator of trade. The importer should, thereafter, simply pay his duty and carry his cargo and go. But that is not the situation because some people would now start querying the file, beginning with the value. And once you are stopped, there and you are able to succumb to the subtle extortion, the news would go down the line that there is chop on this cargo. And thereafter, the new value could become $7, a debit note (DN) would be raised and before you know it, the agent is already being made to look like a mediocre and frustrated.

    Does that make every Customs unit fall to extortion?

    The Valuation Officer may not be happy, but he knows he cannot afford to stand his ground and be accused of working against the overall goal of boosting revenue; and so he jacks it up to $7. Now, after doing that, on your way with your cargo, the Customs Intelligence Unit (CIU) would now intercept it, saying: ‘you must have done something with the value, because this is supposed to be $9’. Now, while these are all going on, you are not moving anywhere. You are stuck. Your demurrages are mounting. And at the end of the day, even if you were the one begging the importer, he would by now be upset with you as an agent. A frustrated importer would bring more money and ask you to pay; so you pay. Yet, for even daring to stand your ground against the officers, you have, without knowing it, committed an abomination. You have frustrated some gentlemen  and you must pay for it. So, when you get to the gate your penalty is to be tasked again to come for the  re-examination of what they have earlier examined at the terminal. Never mind the fact that the representatives of the gate were all fully there at the terminal when the goods were earlier thoroughly examined.

    Are you insinuating that the new process is frustrating?

    Yes. That is exactly what the average agent faces at the port.

    When Col. Hameed Ali (rtd) first came in as the Comptroller-General of Customs, there was hope that he would sanitise the ports. What is the situation now?

    You are wrong. Some of us were skeptical from the onset, because Ali was never within the system. It would take an average of three years for a non-Customs officer of a particular rank, to understand the rudiments of what is going on in the ports. So, what do you expect from Ali, a retired soldier and at his age, to start learning what classification is all about because it is not by book? It is by practical experience. What Ali was supposed to be is a symbol representing what we know the President for. It is not that there is no corruption in America or Britain or elsewhere for that matter. Even in China and Japan and South Korea where they kill people for stealing, people still steal. But the maxim is: don’t be caught. But why must my people suffer because they are not ready to compromise? You want to be patriotic, you want to pay your correct duty and if you make noise too much, they will come after you.

    What do you think Customs brokers elsewhere are doing better than their Nigeria counterparts?

    Several things. It is only in Nigeria that the Customs doesn’t treat Customs Brokers as very important. For instance, the entire African Customs Brokers representatives at the World Customs Organisation (WCO), except Nigeria, were all sponsored by the Customs Service of their various countries. We, from Nigeria, travelled to the summit with our money. Participants from Angola, Liberia, Mozambique, Jamaica were all sponsored because they appreciate them there as revenue generators. The proliferations of associations you see now were engineered by Customs officers because they did not want a united, strong, single agents’ body. And that’s why we have come with different names so that if one group says this, the other group will counter it. At the WCO in China, we were told that Nigeria has become the Regional Head of Customs Brokers in West Africa. And this is not unconnected with our modest contributions to the cause of Customs growth and recognition. But at home, we may not be genuinely recognised, let alone appreciated. Some people even see us as mere freight forwarders.

    Is there any difference between freight forwarders and Customs brokers?

    Yes. The difference between a Customs Broker and a freight forwarder is very great. The demarcation is not made here in Nigeria, because everybody wants to gain access to the port- so that they can make money. FIATA is the headship of freight forwarders all over the world. They are a member of the PSG ( Policy and Strategic Group) of the WCO. But who is the Chairperson of the PSG? The DHL. And what does their chairperson focus on? That shows the relevance of the Customs Brokers.

    The Federal Operations Unit of the Customs is known to always intercept cargoes on the highway on allegations that the importers didn’t pay the correct duty. What is your reaction to this sir?

    Those are the challenges we expect the Comptroller-General to help us surmount. We strongly believe he can still do it. And such a gesture can dramatically uplift the cargo facilitation job in Nigeria. It would end the growing wave of accusations that agents and Customs officers are sharing money. If the importer already knows how much he is supposed to pay; won’t he just pay it, collect his goods and walk away? But why is it that such very simple thing cannot be done? Or do we need to first report to the WCO through our own international federation of the Customs brokers that the Nigeria Customs is creating such and such man-made challenges for us? Must we first appeal to WCO to help us beg the NCS to assist us do the job better? For us, we feel we should not be exposing our ineptitude; we feel we should not expose ourselves. That is why we seek dialogue.

    Have you met with customs chief over the issue?

    As I am speaking with you, I am bold to say that three letters have been written by our association to the Comptroller-General (Col. Ali), soliciting for dialogue between the Customs agents and the CGC.  Only one was replied.  All what they are telling us is that the man is busy and I have not seen any interview he granted any major newspaper since he was appointed.

     

  • Amaechi’s clearance in order, says Senator

    Amaechi’s clearance in order, says Senator

    The senator representing Kaduna Central, Shehu Sani, said yesterday that last week’s Senate’s clearance of former Rivers Governor Rotimi Amaechi as a minister was not a tacit endorsement of corruption.

    Sani spoke during a visit to ailing Abdulkareem Albashir, a veteran journalist and columnist, during which he offered to settle his medical bills and procure an artificial limb for him.

    He noted that the allegation of corruption against the former governor remained a mere  accusation until proven otherwise in court.

    “The All Progressives Congress’ (APC) position on corruption allegation is that it is still an allegation and the issue is still in court which the Senate committee should not have entertained in the first place.

    “In the general sense, we are duty bound to protect the interest of someone in our party and the opposition has the right to object to whoever is presented.

    “In the broader sense, Nigerians and posterity will judge whether our approval of Amaechi was a tacit endorsement of corruption because the issues raised were not enough to stop his confirmation.

    “But we must also understand that even if you are made a minister and you get convicted, the law will take its course.

    “Certainly if he is found guilty, he would not continue to serve as minister under President Muhammadu Buhari’s administration,” the News Agency of Nigeria (NAN) quoted the senator as saying.

    On the walkout by the opposition senators under the Peoples Democratic Party (PDP), Sani said their action was part of democracy.

    His words: “I think nothing is wrong with that. I see the walkout by the PDP senators as history repeating itself.

    “Opposition senators walked out when Mr. Musiliu Obanikoro was brought in for screening for ministerial position by the previous administration.

    “You remember that their protest did not stop the ruling party from having its way.”

  • Why retailers opt for clearance, discount sales

    For retailers of fast moving consumer goods, innovation is key. Faced with the challenge of disposing old stocks and re-stocking with new ones, most of them resort to clearance sales, one of the sure and innovative ways of retaining the loyalty of old customers and attracting new ones. For instance, Mrs Modupe Shopeju, owner of Delightsome Gift Concept, a gift store in Gbagada, Lagos, believes that the best option to dispose old items is to place them on discounts. Such items, according to her, occupy spaces that have been paid for.

    As store owner, Mrs Shopeju pays rent and other bills, including salaries of members of staff. Sometimes, she even borrows money from the bank to fund her business. Expectedly, the challenge of meeting these expenses in due course and making profit at the same time imposes considerable pressure on her hence, the resort to clearance sale. In a chat with The Nation Shopping, Shopeju recalled an ugly experience of how she kept a particular flower vase for four years because she wanted to sell it two times its cost price, a decision that boomeranged, making her lose instead of make profit.

    Hear her: “I had a flower vase I bought in 2011 on my shelf, which I bought for N2, 000, and wanted to sell for N4, 000. I regret delaying selling that vase when I was supposed to sell it. I have come to realise that my money has been tied down since then, and that the space the item occupied for years would have been useful for other items. I am willing to sell for the cost price of N2, 000.” She added that her decision to eventually sell for the cost price of that item hasn’t made it inferior in anyway.

    Chinedu Agwu, a retailer in Balogun Market, Lagos, has also embraced clearance sale.  Agwu owns a store where he sells shoes and bags. In his store, a black Gucci handbag has been on the shelf for one year and two months, but he thinks putting it on discount is the only solution to getting a buyer for it. He had travelled abroad to buy some of the items he sells, he pays huge sum of money to ship them into the country, which indicates that there is a huge cost attached to Chinedu’s kind of business.

    Chinedu told The Nation Shopping that because his business is an international one, it needs huge capital and as such, he borrows money from the bank and for this reason amongst others, he often places some of his items on discount, which is capable of bringing customers from all around the world. This is because people tend to fancy discounted items more, especially luxury goods, which on a normal day they wouldn’t afford.

    “In some cases, people will be waiting for such shop to open because luxury items are on discount. Also, if I want a new deal and a company offers me a new product at a particular discount too, but I do not have the cash to make payment, I can place some of my items on discount, so that the cash I get from it can be used to purchase new items,” he said.

    Indeed, experience has shown that as a retailer, if an item is kept longer than necessary in a shop, the capital used to purchase such item will lose its value. The risk of selling it more than its cost price will also arise. Besides, the item would have become older, out of vogue or out of fashion. Shopeju and Chinedu say that determinants of discount placement include weak sales and the quest for foot traffic to a retailer’s shop, which makes such retailer place discount on items.

    For slow moving items, the merchants said when a retailer is in business, he knows the turnover of goods he gets; he knows how often he sells his items, and if he hasn’t made sales within two month, he wouldn’t have sold everything. Sometimes a retailer can introduce discount because he doesn’t have cash at hand but, if he stock swell over 50 million worth of goods, he can decide to put some things on discount and end up making close to 10 million to meet his immediate needs.

    Speaking on the benefits of placing items on discounts, retailers say that it is certain that the retailer gets back his money on time because what ordinarily he should sell for N2,000, he will sell for 1,000 and make immediate profit even if it’s little, but getting ones money back is sure. The retailer will surely benefit in the form of customers’ loyalty, as customers will want to come back because of what they are getting.

    Some shoppers who have benefited from discounts sales say they get items at reduced rates, particularly luxury items which ordinarily they wouldn’t have been able to afford. Kikelome Akande said, “One of the clothing stores at Ikeja City Mall stock lovely United Kingdom (UK) tops for N5, 000, and I have always wanted to buy. I guess I am lucky because it was recently reduced to N1, 500, making it affordable.”

    Also, Femi Babalola said: “People are ordinarily attracted to cheap items, even the rich doesn’t want to spend too much when he goes shopping.” What this means, according to analysts, is that all parties stand to benefit from discount sales, including manufacturers, sellers, and buyers, and it should be encouraged.

  • Clearance sales boost shopping at Yuletide

    Clearance sales boost shopping at Yuletide

    Determined to make brisk business during the yuletide, many malls and shops wooed prospective shoppers with bonanzas and other freebies, TONIA ‘DIYAN reports.

    Most yuletides are periods of bumper sales. This season was no exception as majority of sales outlets across the cities gave all forms of bonanzas and freebies to woo prospective buyers.

    A visit to a cross-section of malls and sales outlets within Lagos metropolis and its environs by The Nation Shopping showed that very many of them made brisk sales by daggling one of carrots or the other.

    Speaking with Sander Norman, a Briton, who is Centre Manager of Ikeja City Mall, he confided in The Nation Shopping that every year, his mall comes up with the different gimmicks ultimately to boost sales during the yuletide.

    Norman said: “At IKeja City Mall, we thought the Christmas period which signifies giving is a more appropriate time to give back to the society and what better way can we do this, if not to stretch a helping hand to the needy.”

    He added that it is the second time the mall will be celebrating with orphans and children generally at yuletide. “This year, the scope is broadened with the mall’s decision to affect more kids than last in 2013 and put smiles on their faces.

    “We hosted more than 30 orphans from 3 different orphanages and more than a hundred other kids to a fun fulfilled time of excitement.”

    Amongst the series of engagement for the kids included movie, face painting, games, music, dance competition, catwalk sessions, etc. The kids all went home with customised gifts to keep these memories lingering, he said.

    “We have been able to give these kids the experience of Christmas as enjoyed by their privileged counterparts. We did same last year for the first time and we don’t intend to stop the act. The event is a huge success for the management of this mall and we are happy that the kids had a jolly good time. They all parted with gifts, they will have good memories of this year’s Yuletide season.”

    Also sharing his experience, Mr. Eniola Ositelu, Marketing Manager, Ikeja City Mall, said sales at the mall during the Yuletide period was at 80 percent.

    “We are very pleased with the turnout of people who were here to push sales for us at Yuletide. Though, some came to window shop and sight see, particularly visitors to Lagos. But with the report and testimonies we gathered from our tenants stores, sales was pushed to 80/85 percent,” he said.

    Echoing similar sentiments, a sales person at the Daviva store, an upscale clothing store, who asked not to be named, told The Nation Shopping that most retailers had come up with one sales strategy or the other since the last quarter of last year to help make huge sales when Yuletide eventually comes.

    “Our promotional offers have been on since August 20 like every other store. We do this yearly so that we can have bountiful sales; we push out as many items as possible by slashing their prices into three, sometimes four just to lure customers.”

    Pressed further, the source said, “With this, we are able to do away with out old stock, old designs and then bring in new ones for the New Year.”

    David Botha, head, Mr Price, a South African clothing store with franchise in Nigeria, said his store recorded a 90 percentage increase sales since the Yuletide began.

    He said, the store hasn’t stopped restocking since then and that it has been crowded with shoppers and fashion lovers who want fashion items which are in vogue.

    Upbeat, Botha said: “At Mr Price, we have only experienced huge sales this season. We’re not surprise because we stock the best of clothing and fashion accessories and our items cut across all ages.

    “For instance, our coloured denim is a key fashion trend that is new in the fashion market and it is attracting customers. So far our revenue figure has risen double what our store management expected and the company has boosted its first-quarter earnings outlook.

    “Our sales are rated at 90 percent in all our stores in their various locations in Nigeria. This is the first time we will experience such since we came to Nigeria. At intervals, we will have to shut our doors so we can manage the crowd we already have inside the store at a time.

    “Apart from the huge sales recorded by some businesses, gift-giving and fun treat, mainly centre on children, was an important part of the celebration particularly at shopping malls and the online stores.”

    Last minute shopping for the New Year at Lagos shopping malls started at about the early hours of the New Year eve with shoppers waiting for malls and store doors to be opened for business with the parking lot of these malls full beyond their capacities.

    The National Retail Federation predicts that shoppers would have spent close to N50 million last Wednesday alone for ‘Last minute shopping’ into the new year, stating that such estimate makes the first day of the year  the number one sales day on a yearly basis, though  observations have it that few crowded stores were filled with undecided shoppers and procrastinators.

    Corroborating the foregoing, Oyingbo market leader, Alhaja Shittu Basirat, in a chat with The Nation Shopping said yuletide sales can be rated at 80 per cent, which she attributed to sales discounts to prospective buyers.

    “The huge sales we recorded was made possible by the several meetings held prior to the celebration where we pleaded with traders to avoid adding extra cost to staple items like rice, chicken, tomatoes, pepper and groundnut oil so as to encourage buyers.”

    “The fact that there is no money in circulation, Oyingbo market experienced huge sales this yuletide.”

    Unlike traders at Oyingbo market, their counterparts at Mushin didn’t have it so good.

    Speaking with the leader of the fish section at Mushin market, Alhaja Morenikeji Ali, she noted that her section recorded a 25 percent decreased sale. This she attributed to the high cost at which people buy fish these days.

    “A carton of croaker now cost N16,000, Shawa N9000 and because of this, people now prefer to buy live chicken instead of one fish for N800 or more, we didn’t make much sales this yuletide,” she said.

    Alhaji Rasaki, who is the General Leader of the Mushin market, is also on the same page with Alhaja Ali.

    Sales at the Mushin market, this yuletide, he said was anything but encouraging. Yuletide sales dropped by 40 percent compare to the previous 80 percent it was at the last yuletide.

    At Oshodi market, the leader of the tomato and paper section, Mrs. Ayomide Romoke said traders at her section recorded up to 75 percent, thereby boosting sales for this year’s yuletide.

    For Alhaji Bello, market leader of Ketu plank market, sales this yuletide was a lot better compared to last year’s.

    According to him, sales at the market went up by 40 percent compared to last year.

    For Iyana Ipaja market leader, Mrs Balogun yuletide sale dropped from 90 percent to 30 percent this yuletide.

    Investigation by The Nation Shopping revealed that only a handful of chains representing roughly 10 percent of the Nigerian retail industry report monthly sales when it is not festivity period.

    Major chains that didn’t report include Woolworth and Truworth and that was why they left the country, it was learnt.

    Majority of the players in the shopping industry say the festive season which for them began since the first week in September last year being the last quarter of the year saw great response from shoppers and brought about huge sales.

    They say they are pleased with the sales they made at the yuletide.

    Observations have it that stores that stock children gift items and those who use one fun item or the other to entice and entertain kids had started to advertise Christmas shopping since the beginning of November before the holidays began.

    According to the management of these malls, giving back to the society is one assignment they must accomplish.

    At leisure mall in Surulere, the story is not different as there were thrilling performances by children, and then came the icing on the cake, visit to Santa Claus grotto to get Christmas gifts.

    Both malls Centre Managers said they are committed to giving back to the community thus, have decided to fete children specially this Christmas than they have done before.

    Feyi Shoyinka, Leisure Mall Centre Manager said: “Management of this mall have organised the Christmas party for children residing in Surulere and its environment. Last year’s Christmas party was also fun-packed.”

    For Precious Eweka, The Palms, Public Relations Officer, besides making brisk sales the yuletide season offers an opportunity to give back to the society, which is why his organisation doesn’t hesitate to explore such opportunities.

    “Our aim is to fete shoppers for Christmas particular our younger shoppers, I mean children and judging by the testimonies of our tenants stocking items for children, sale increase for them particularly at Christmas.  They have really pushed up sales for us this year,” she said.

    However, with the lure of big bargains at these malls, shoppers are still packing the malls and stores even at the first day of the year, while grabbing more deals for themselves.

    “This will be the single busiest shopping day of the year,” said Debola Majekodunmi, a mall consultant in Lagos.

    “Yuletide, back-to-school, coupled with some newness in stores, is leading to a nice advantage heading into the New Year,” this is according to experts of the Retail Metrics, a research firm situated in Victoria Island. They added that they notice that retailers were very aggressive with promotions, trying to clear out merchandise and restock new design for the New Year.”

     

     

  • NSC to ease cargo clearance at ports

    The Nigerian Shippers’ Council says it will concentrate its efforts on ensuring that the clearance procedure at the nation’s sea port is made faster, even as it vowed that the agency would cut unreasonable charges in the system, because the ports are in competition with other neighboring ports.

    Its Executive Secretary Mr. Hassan Bello also said he was determined to make the ports attractive for business and accused maritime stakeholders of being impatient over its new regulatory role, even as he said the Council would not be blackmailed or rushed in its efforts to bring harmony and sanity into the port operation.

    Bello who said those  criticising  the Council of not living up to expectations in its newly assigned regulatory role at the port intended to blackmail  the council to abdicate its responsibility.

    He said that the Council will end arbitrary charges at the port when all stakeholders do what they are expected to do.

    “The Shippers’ Council will be accused all the time by stakeholders, if we are not accused then we are not doing our work. We have to be accused, abused everyday, but what we want is harmony, representation in Nigerian economy through the ports and nobody is going to rush us to do what we are not expected to do.

    “We are going to take a scientific approach, it is not a beauty contest or a popularity contest, but by the time there is harmonisation in the port,  I am sure everyone will see it, regulation is not ‘ABC’ that you recite for people to get impressed, it has to be scientific so that we can make the ports attractive for business,” he said.

    Bello said the council, as a commercial regulator is supposed to be allowed to study the situation in the industry for not less than three years for it to be properly grounded.

    He said he was happy that the council  has what it takes in terms of experience and past dealings to regulate the industry well,  and insisted that it will not carry out its regulatory on the pages of newspapers.

    “We are going to consult and have the buy-ins of the stakeholders before we do everything, even now we have started the regulation and regulation is consultation, transparency, unbiased and these are part of what we have embarked on” he said.

  • Giwa FC in conditional clearance

    Giwa FC in conditional clearance

    Giwa FC has been granted provisional approval to participate in the 2013/14 Glo Premier League as the club was adjudged by the League Management Company (LMC) to have substantially met four of the requirements listed by the Nigeria Football Federation (NFF) at its emergency meeting that considered the appeal by the two clubs that failed registration requirements at the start of the season.

    However, the second club, Nembe City FC was given up till yesterday to make good some of the conditions it failed to meet, of which included the dissociation of the club from dealings with its former Chairman, Victor Rumson Baribote, currently serving a 15-year ban imposed by the NFF. Baribote is also at various stages of litigation against the LMC and NFF and the club did not provide any proof of discontinuation of the cases.

    In separate letters to the two clubs signed by LMC Chief Operating Officer Salihu Abubakar, reference was made to the four conditions imposed by the NFF on the clubs, which they were to meet within seven days to be eligible to participate in the fixtures.

    The four conditions include submission of a signed letter of allegiance to the LMC in accordance with the approved format, appoint a stadium to be inspected and approved by the LMC, submission of detailed Medical Profile (passport) of all players in line with the LMC approved Medical forms and discontinuation of all matters and litigations in court.

    “The LMC can confirm that Plateau State Football Association officials have provided us evidence of discontinuance of cases filed against the LMC by associates of Giwa FC. This evidence has been verified by our Lawyers”, Abubakar stated.

    Specifically, Giwa FC was directed to write a formal letter of acknowledgment upon receipt of the letter of conditional approval as a pre-condition to be allowed to play the rescheduled Match Day 4 fixture against Rangers International on Wednesday in Jos.

    The letter from Giwa FC was received by the LMC Tuesday night and signed by the Chairman, Chris Giwa, it thanked the LMC “for the opportunity given Giwa FC to be back to play in the Glo NPL. We pledge our loyalty to the league body.”

    The LMC in granting provisional approval for Giwa FC to join the league also set out other conditions to be met on or before June 24 in line with the ruling of the NFF emergency meeting.

  • Ogunjobi congratulates Kayode on clearance

    Ogunjobi congratulates Kayode on clearance

    Ex-NFF top shot Taiwo Ogunjobi has congratulated Olanrewaju Kayode over a FIFA verdict that frees him to resume his career.

    “I am happy for Kayode and congratulate him that he can now continue with his career after FIFA ordered NFF to issue a provisional clearance to him for Heartland,” Ogunjobi told MTNFootball.com.

    “I say congratulations to Kayode once again, he should face his career and never allow people to use him against his fellow human beings especially someone who helped him. I wish him well.”

    He maintained that the FIFA decision has cleared him.

    “I also thank God that I have been vindicated at the end of it all,” he said.

    “That is what I have been saying all along that Ogunjobi cannot issue clearance for him or discuss his clearance but the clubs involved.

    “I have a copy of the FIFA Single Judge five-page document which was sent to me by Asec Mimosas.I have the document and nowhere on the five-page document was Ogunjobi mentioned.

    “FIFA stated there that Asec don’t want to hold on to Kayode as I said earlier, the provisional clearance was ordered to be issued and compensation for Asec will be worked out.”

    Ogunjobi further said: “NFF just want to rope me in which is political because of my ambition,but I have been vindicated.

    “I will release the document to Nigeria journalists on Monday to see the fact and what was in the Single Judge verdict.”