The outgoing year was a beehive of activities as trends and innovations made by different brands and manufacturers made 2014 very fulfilling for shoppers, reports TONIA ’DIYAN
The outgoing year was ‘a promise-kept’ as advertisers would say. Reason: Top brands made inroads into the market just as consumers had a surfeit of choices to make in the long run.
The past year, like every other year, saw more sophisticated platforms for conducting business on both national and international scale through trade fairs and exhibitions organised at different times across the country. The experience was more than just a marketing tool, because each time these exhibitions were held, the entire market place was at the shopper’s fingertips and as a source of market information the shopper’s need was met in a centralised way.
Attraction
According to a centre manger in a Leisure Mall, Feyi Shoyinka, the attraction to shopping in the mall last year was the low pricing regime embraced by retail outlets in the mall. “Pricing is the main attraction here and I think the mall’s retailers or tenants have keyed into this,” he said, adding that retailers, especially the foreign ones, know the market and the right competitive price- a factor that ensured their continued survival in the market place.
In 2014, the mall was able to prove that it has advantage over the open\ traditional market, stand alone and high street stores; hence, the volume of business transactions that go on there and the improved revenue enjoyed by the space owners in the malls.
Providing excellent opportunity to assess opinions from clients and determine market potential, in 2014, trade fairs and exhibitions conducted research and evaluated competitions, they were able to develop commercial structures by identifying new agents and distributors, as well as initiate joint ventures and project partnerships. In all, they rendered world class shopping experiences to individuals and businesses.
As the year wrapped up in November and the Christmas sale was ushered in, a new trade exhibition was introduced to shoppers in a big form. It was the Kubechi’s Closet Fair at the City Mall, Onikan Lagos. The fair was a networking platform and a miniature couture that attracted lots of ladies and young men at the same time offering rare collections together with amazing deals.
In December, churches joined the shopping frenzy, particularly Christmas shopping. Some of them organised trade exhibitions using their premises and auditorium, and making huge sales. A good example is the Fountain of Life Bible Church.
At Christmas, the church organised a fair tagged ‘The Annual Market Place and Family Fun Fair’, combining trade and fun. Its aim was to empower the church and the small businesses in its environs. It recorded attractive response as people turned out for the programme.
Growth and achievements
In August, the potentials and opportunities in the Nigerian business space attracted investments from all climes. Modernisation of business arena came; more businesses were conducted in very conducive atmosphere. Shopping malls also became big social network avenues going beyond being just a business complex. They become platforms for social networking, especially among the upwardly mobile and fun seeking youths.
Shopping malls brought about more socialising or bringing people together to benefit from themselves and the stores. Besides, the ultra modern shopping facilities built with unique and distinctive features fitted with innovative benefits to shoppers. For the youth, the presence of top international brands, which took spaces at such malls, also contributed to the modernisation of the mall concept.
The malls have been able to pass for a tourist attraction centres, boosting the country’s revenue generation, especially on the side of value added tax (VAT).
Improving customer experience
Retail shopping is about convenience, comfort, security and providing a delightful experience for shoppers. Shopping places generally said they were able to offer unique experiences in the sense that they were more like community centers with a large variety of business merchandise. From time to time, they looked at what they could improve on; what they should change or add. For instance, the management of the some of these places conducted surveys to sample the expectations of customers. The surveys covered areas such as the type of goods expected to be seen and their choice of products.
According to operators, shopping places grew about 80 per cent last year. They say this is a good development. People stayed longer in these places, particularly the malls. More people visited these places on a daily basis, a lot more cars came in too. Retailers did better depending on how much marketing and advertising they could do for themselves.
In August, Ladipo motor spare part market went online. The international motor spare parts market opened its online portal because of clients who are too busy to come to the market to purchase their genuine motor spare parts.
Chairman, Aguiyi Ironsi International Trade Center, Mr. Ajibade Olajoku said the activities of fraudulent middle men necessitated the new move. According to him, www.youseeam.com will link prospective buyers with sellers in the market.
Also in November, Infinix launched its zero smart phone devices and partnered Konga. Speaking on the smartphone, its Managing Director Mr Benjamin Jiang said it is available and affordable in the market.
Christmas sales made waves
Majority of sales outlets across the cities gave all forms of bonanzas and freebies to woo prospective buyers. They however made brisk sales bringing forward their clearance sales.
Last year, sale of Xmas decorations started making waves in markets and stores early around the first week of the festive month with prices varying according to designs.
However, the year saw low sale of Xmas hampers as against the usual boom expected at such occasions.
Innovations that gained a foothold
At the first quarter of the year, e-payments made slow, steady acceptance by shops when they saw the need for a world beyond cash where cashless transaction assisted in growing their businesses, improving the lives of their customers and removing risks associated with carrying, using and handling cash.
At the end of the year, pessimistic retailers about the whole idea of a cashless economy in the country were those who encouraged their customers to pay using the ATM cards and the point of sales (PoS) machine at the point of payment.
Observations by The Nation Shopping in 2014 had it that 60 per cent of retail shops in the Lagos metropolis owned a PoS machine. On the other hand, few still had ample reasons to hold on to their conventional ways, not because the policy is not good, but because they gave room for doubts on its workability for their kind of business or location.
Most shoppers avoided carrying cash last year; kudos to the Central Bank of Nigeria (CBN) that had been doing a lot in terms of awareness for a cashless society. The aim to shop with e-payment solutions to enable people keep within the CBN daily cash limits, thereby saving money instead of spending cash uncontrollably was achieve in the Nigerian retail industry last year.
In November, Nigerian’s foremost, indigenous quick service restaurant Mr Biggs birthed a new outlet at the E-wing of the departure lounge, close to the British Airways counter, at the Murtala Mohammed International Airport (MMIA), Lagos.
The all-new-look eatery was positioned to serve the increasing needs of international travelers at the MMIA availed travelers the opportunity to grab a fast meal before boarding their flights without hassles. The challenge of getting affordable hygienic meal to cater for the needs of travelers was taken care of by the entrant of Mr Biggs at the airport.
Managing Executive for UAC Restaurants, Mr Derrick Van Houten, said “the beehive of activities at yuletide prompted this outlet in November 2014, in order to relieved travelers the stress of having to plan their meals before arriving at the airport.”
The brand also went ahead to make available the Mr Biggs @ School Fest package where schools enjoyed the presence of the brand at their end of year parties with a token of N1000 per school. Also in 2014, the brand emerged the 2014 Most Trusted Brand in the quick service restaurant category; it was a brand health award.
Also in November, Mr Chef gave out a Hyundai Sports Utility Vehicle (SUV), N1.5 million cash, a LED television set and a double-door refrigerator. It was at its first lady reality show held at the Shell Hall of the Muson Centre- Onikan, Lagos.
According to the Executive Director of Bayswaters Industries Limited, makers of Mr Chef Products, Mr Piyush Nair, “last year, we were able to demonstrate our commitment to women empowerment, we contributed to the sustenance of a family-oriented society and the building of a strong Nigeria at large using our reality TV shows,” Nair said.
The Consumer Protection Council (CPC) renewed its efforts to protect the Nigerian consumer from unwholesome practices of manufacturing concerns, both multi-nationals and locals, the council succeeded in putting various big companies in its watch list in 2014.
For instance, it ordered the producers of the most consumed soft drinks in the world to subject their manufacturing processes to the council’s inspection for a period of 12 months to ensure compliance with laid down safety standards and regulations, having been found to have dropped the ball lately.
Its Director-General, Mrs. Dupe Atoki, confirmed the development during a media briefing on the ‘Investigation into Violation of Product Quality Standards by the NBC and Coca-Cola Nigeria Limited’, in Lagos.
In September, PZ offered 2,000 Ibadan traders free medical check-up to activate one of its premier products, Hot Robb, at the famous Gbagi Market in Ibadan, the Oyo State capital where traders were massaged on the joints and other parts of the body with Robb, there was blood pressure (BP) check, free consultations and enlightenment on health-related issues .
Online shopping
In Febuary, Konga redefined e-commerce in Africa, a revolutionary offering which gave select Nigerian businesses the opportunity to make their products and businesses available online to millions of Nigerian shoppers
In June, Jumia celebrated its best month of performance and highest sales since inception. This, according to the company, was the result of unrelenting hard work and dedication from the team.To compensate members of the team for their efforts, there was an award ceremony to recognize, motivate and empower team members. To continue the celebration of the team’s achievement, a team bonding event was also held to further enhance a team spirit within the Jumia sales force.
Also in June, Hellofood.com gave Port Harcourt residentsthe opportunity to order food online from their favourite restaurants in Port Harcourt.
