The Nation Newspaper

Tag: online

  • Online retailers recount Mothers’ Day sales

    Online retailers recount Mothers’ Day sales

    As the world advances, Nigeria continues to get involved in everything that the western world does. From the ‘Black Friday’ Syndrome to the ‘Buy Nothing Day’ bug, and now the ‘Mothers’ Day’ Crazy Sales, like the online retailers would call it.

    On the Konga.com site, the hike in sales around Mother’s Day gets bigger with each passing year. This is probably because, for special days and seasons, customers are increasingly identifying with Konga as the ‘perfect gifting solution’ for their loved ones.

    For this year’s Mother’s Day, Konga created a special catalogue on the perfect gifts to delight and appreciate mothers. The Konga catalogue made it easy for customers to find the right gifts for their mothers. With Konga’s standard offer of nationwide delivery, this meant that people could show love to their mothers even when they did not have the opportunity to be there with them.

    Its Public Relations Manager, Olatomiwa Akande said: “At konga.com, we were honoured to serve as a bridge to deliver joy to amazing mothers across Nigeria during this year’s Mothers’ Day.’’

    Supermart.ng, anchored by Raphael Afaedor and Gbolahan Fagbure saw a trend of sales spikes around the special days. According to the store management, this Mother’s Day (and the recent women’s day) was no different, as the store witnessed alot of purchases of perfumes, jewelry (swarovksi crystals) and watches.

    Chief Executive Officer, Supermart Store, Raphael Afaedor, said: “We saw quite a significant number of people do big grocery shopping and had them delivered to their parents’ addresses. With over 50,000 products in store, Supermart.ng is Nigeria’s largest online supermarket and delivery service. We deliver within three hours across Lagos and that’s probably what explains why we are seeing the trends we are experiencing.”

    Carmudi Nigeria, an online car dealer, thinks otherwise, its Public Relations Officer, Vivian Chidinma said: “At Carmudi, we have only noticed an increase in the amount of app used to access the Carmudi website over the past weeks, but we can’t attribute this to the anticipation of Mothers’ Day at the weekend.’’

    She said the firm saw no increase in the amount of page visits or requests for dealer’s information during the Mothers’ Day, but that it had 65,067 page views last week, which was not significantly higher than the previous week.

    For Offline Manager, Jumia.com.ng, “Mothers Day sales on Jumia.com saw a double digit growth when compared to sales event last year. What we also saw is Nigerians adopted even further this global event; we saw many early shoppers who, obviously, were looking to have their gifts shipped to their mothers, wives or otherwise in time for Mothers’ Day.’’

    Jumia also celebrated Mothers’ day with CSR initiative ‘1 Child 1 Book’, where staff of the firm visited kids of Maryland Primary School for an exercise that had them surprising their mothers with gifts.

  • Loyalty reward as bait for online shopping

    Loyalty reward as bait for online shopping

    Like other conventional wholesalers and retailers trading in fast moving consumer goods and allied products, online store merchants in their quest to grow their businesses have also come up with ingenious ways of attracting customers, reports TONIA ‘DIYAN

    Altough online shopping is still relatively new and remains an emerging market in the country, most owners of online shopping portals across the country are not leaving anything to chance to grow their customer base. Like their counterparts in real time sales, online store merchants know too well that the strategy to retain customers, get prospective ones, gives birth to improved sales. Thus, these online merchants say they are not left out of this, as they have also spread their tentacles to consistently indulge in the act of purchase-driven loyalty promotions knowing the benefits involved in the act.

    The former chief executive officer of Broll, Mrs. Gbadebo Erejuwa once said savvy retailers are defining innovative ways to achieve the benefits most important to their customers and online merchants are not an exception too. One of the now trending ways is the loyalty reward system. This involves giving back to the customer rewards for patronage.

    According to Erejuwa, online stores seem to have also caught the “customer loyalty reward” bug and thus, have imbibed the trend and have kept it going. “They are aware that if they reward their customers they will want to visit again and again,” she said.

    Stakeholders in the online business are of the opinion that while the concept of loyalty is not new in marketing, it has also led to a significant surge in retailers investing in ‘loyalty programmes’ that give them valuable insight into how to better meet their customers’ needs.

    Since online shopping gained a foothold in this part of the world almost three years ago, it has continued to thrive at a phenomenal rate, bringing with it relative ease or convenience of transacting business without leaving the comfort of one’s home. And like the shopping malls, online stores now appreciate their customers in diverse other ways apart from the usual discount offers, price slash and other seasonal offers given to shoppers who buy from their website.

    Now, the online stores are confident that they have outgrown their teething problems and have proven themselves worthy, thereby brightening their prospect for further. For these operators, the number of people who now patronise them across the country and beyond is continually on the increase as they enjoy convenience, transparency in service delivery, availability and affordability of their choice items, among other benefits apart from the reward programme.

    At the early stage of its entry into the Nigerian marketing space, online store, now considered a novel concept reshaping the way shopping and marketing is done, was a pariah; it was not a first or second option for prospective shoppers. However, with growing awareness in technology and more exposure to western markets, the tide has changed. Therefore, the once despised mode of shopping is now the beautiful bride being embraced by techno-savvy shoppers.

    The reasons for this change are numerous: one of which is the ease of buying and paying that it offers. From the comfort of one’s home, purchase, payment and delivery are made. This and many other reasons have made online stores warm their ways into the hearts of the Nigerian shopper.

    Aware that loyalty programme is one of the many ways of boosting sales, Tomiwa Oladele, Head of Public Relations and Marketing, Kaymu.com.ng said that her online store has packaged more exciting campaigns, promotions, and giveaways for its customers as a means of expressing their appreciation for customers’ patronage. “We are aware that our customer is King and as a result customer service efforts at Kaymu.com are optimised to ensure they are satisfied with our services and those of our sellers whom we connect them with, being the number one online market place in the country, we bring buyers and sellers together under one roof,” she said. Oladele added that as a brand, her firm extends the customer experience beyond customer service to reward systems that ensure their customers feel appreciated.

    In similar vein, customer reward is nothing new to jumia.com. This is because for almost three years of this foremost online store’s existence, it has continued to provide various initiatives that have been carefully tailored to reward its customers.

    Afam Anyika, Head, Offline Marketing, Jumia.com.ng explained that her store’s reward programme is an indication of the priceless value placed on its customers, whom she explained, they have always been committed to, to consistently provide them with convenient, professional service, and an excellent shopping experience. She said that the essence of the reward programmes from jumia is to ultimately provide customers with a delightful shopping experience that is hinged on great deals and best prices or incredible discounts on quality products.

    “For instance, in December 2014, we launched our Customer Appreciation day. This will now be an annual event where we thank our customers, and celebrate a great year together and a time when we not only continue to build e-commerce in Nigeria, but also a day we provide them with exclusive massive discounts off on selected premium products across all categories on the Jumia store,” Anyika said. He gave other examples of such initiatives to include “Black Friday” sales, ‘Awoof Vouchers’ pre-sale’- where customers bought vouchers up to N 20,000 with its value doubled for purchases on the Jumia Black Friday store. “More recently, we also initiated a partnership with First Bank of Nigeria, where customers can now buy any item of their choice and pay later, this is just one of many of such initiatives we plan to unfold in 2015,” she said.

    Certainly, better deals await online stores’ customers with different loyalty schemes, even as the trading platform gets more acceptance and thus, fuelling more competition.

  • Online, offline marketers clash over sales

    Online, offline marketers clash over sales

    There is a competition between online and offline marketing channels as a result of the desire for increased sales and consumers’ satisfaction. This is already sowing seeds of discord among brand owners, authorised distributors and online stores. Experts believe such rivalry can threaten trade channels, writes ADEDEJI ADEMIGUJI.

    E-Store has emerged as a significant retail force that is putting pressure on the traditional brick and mortar retailers. With even more  pressure on traditional distributor channels of product supply chain, the increasing competitive marketing environment is pushing online stores into offline where traditional supply chains thrive.

    As a result, The Nation gathered that a leading electronic company, LG, is facing pressure from its traditional distributors to call its online sales partner, Jumia, order.

    While this introduces new twist to the debate over threats online stores pose to traditional supply chains, regarded as offline market, some distributors are facing hard times, hence prompting LG, according to a source, to accuse Jumia of receiving products for online sales but end up selling them offline to make their books good.

    “They get products at very low cost much better than distributors of established companies, such as LG + other electronics. They sell to keep margins since their sales don’t move too well,” an LG source told The Nation via email.

    Though whether their products are old online or offline, brand owners still make good sales but the threat the practice poses to trade channels baffles marketing experts, who also accused marketing activation agencies of similar practice. “The practice is all about recording high sales figure. Activation agencies also engage in this practice when they are given targets in a specific area but they decide to go outside the coverage area. This is diversion which defeats the purpose of the manufacturers. In most cases they short-change the manufacturers by destroying their trade channels which is the main challenge in the case,” a brand expert, Andrew Akinyemi.

    Though LG refuses to comment on its channel conflicts between Jumia and its traditional trade channels, with the challenge online stores is giving traditional trade channels, the Jumia Head, Offline Marketing Afam Anyika, seems to see such practice as a consequence of competitive business environment. He doesn’t see anything wrong in having an online stores competition in the offline market, especially when physical stores are  present in the online market to compete with offline stores.

    “First of all, we are an online marketing sales channel. You should understand that the way you have competitors online you also have competitor’s offline like Spar, Shoprite. We are also competing within the retail industry. Our competition is not limited to online but we have our own sales strategy. Everybody has their own sales strategy and our own mission is to deliver value for Nigerian consumers,” said Anyika.

    He said further that there is no marketing rule that prevents online marketing channels from venturing into offline market. “There is no rule in the book that says I can’t. As I said, it comes down to strategy. Offline guys are setting up online stores now. The world is growing bigger and bigger and bigger opportunities are coming, the market is opening, there is rise in middle class and spending is growing. You don’t sit down and fold your hands. Every successful business thrives on innovation. So, off-line guys are doing online stuffs now but the most important thing is how do I satisfy you customers?” he asked.

    On the concern against alleged Jumia’s involvement in selling LG products offline having been given an attractive discount for online sales of the product, he said: “The issue is that the information is very new to us. We have never heard and we know nothing of it. From my own side, we will ask our partner to find out if the allegation raised is true and if so, why not communicate? So far, even my partner doesn’t know where this is coming from. There is no way that an organisation that has very strategic partnership with this brand will complain. The LG you spoke about are our partner in a marketing campaign in the last three months. We have developed that level of partnership and trust. So, there is no way such an issue will happen and they won’t tell us within the space of five minutes and we find a way around it. But we need to understand where this information is coming from through our investigation. There are certain things that we are bound by confidentiality. As I mention, understand that we are also competing for market share on sales of this product. We will get it from them, and we know what we discuss with them,” he told The Nation.

    Experts believe that channel conflict occurs when manufacturers (brands) dis-intermediate their channel partners, such as distributors, retailers, dealers, and sales representatives, by selling their products directly to consumers through general marketing methods and/or over the Internet.

    Some manufacturers want to capture online markets for their brands but do not want to create conflicts with their other distribution channels. The Census Bureau of the United States Department of Commerce reported that online sales in 2005 grew by 24.6 percent over 2004 to reach $86.3 billion. Total retail sales in 2005 grew by 7.2 per cent from 2004. These numbers made the online marketplace attractive to manufacturers, but raised the question of how to participate without harming channel relationships.

    According to Forrester Research and Gartner from 2007, despite the rapid growth of online commerce, about 90 percent of manufacturers did not sell their products online. Of these, 66 percent identified channel conflict as their single biggest issue. However, results from a survey show that click-and-mortar businesses have an 80 per cent greater chance of sustaining a business model during a three-year period than those operating in one of the two channels.

    However, E-commerce is the most popular second distribution channel because of its low overhead expenses and communication costs. This advantage is also a disadvantage, since consumers can also communicate less expensively and more easily with one another in the online marketplace. Therefore, price and product differentiation is more challenging in online markets.

    To avoid a channel conflict in a click-and-mortar business, experts said it was necessary to ensure that both traditional and online channels were fully integrated. This reduces confusion with customers while providing the business benefits of a dual channel.

    Manufacturers sell their products through various channels. Sometimes they find themselves competing to reach the same customers like Jumia and LG.

  • Would you rather shop online for Xmas?

    Would you rather shop online for Xmas?

    As preparations for the Yuletide gather momentum, shoppers have the option of placing orders for choice items online within the comfort of their sitting rooms, reports TONIA ‘DIYAN 

    FOR the upwardly mobile and ever busy executive, who can hardly afford the luxury of the time required to go out on a shopping spree, especially at Christmas, the opportunity through virtual, online shopping cannot be easily ignored considering its enormous benefits.

    A lady, who simply identified herself as  Ewaoluwa,  is a shopping freak,  but detests going to crowded places. She does her shopping online and visiting shopping sites for clothes, shoes, accessories, makeup and other beauty products.

    Justifying her craze for online shopping, she said: “Goods at the market are more expensive when compared to what the online stores offer and their prices usually don’t correspond with their quality.”

    The 24-year-old became a fan of online shopping, giving reference to fashion brand, two years ago when the trend was newly introduced into the country.

    She now makes her purchases on her laptop every month while waiting for retailers’ holiday’s offers and Christmas discount offers, which are ongoing in all shopping places.

    Since product returns are free and easy, Ewaoluwa said she doesn’t mind paying the delivery charges required when online stores desptach riders deliver her items to her door step.

    Like Ewaoluwa, Amara, another fashionista,  has decided to stay away from markets and other crowded shopping places, arguing that visiting such places for Christmas shopping is a clear “waste of time.” This simply, according to her,  often involve overeager salespersons, who may not help her find the right items she needs.

    “I am the type of shopper who knows exactly what I want,” the 39-year-old said, adding: “I have never liked salespeople following me around. I don’t appreciate that kind of service. And to make matters worse, I might not get exactly what I want to buy. ”

    An online store, which she discovered through a magazine two years ago, turned out to offer her kind of service. With just a press on the button of her mobile device in the comfort of her apartment, Amara has found brands of accessories that aren’t sold in some stores. There are several thousands of people who would rather do their shopping in their living rooms just like Ewaoluwa and Amara.

    The Nation’s investigations haveshown that there are people who do not know the basic steps to take in buying an item online. Some would rather call the customer care line to place orders, while others would beg that orders be placed on their behalf. But it is better to take charge whenever one visits an online store.

    Just like someone would behave when he/she gets to the popular Balogun market on Lagos Island, see what catches his or her fancy and simply ask for it following simple steps. It is true that before online shopping made began in the country, the main reason people browse the internet was to search for information, send emails and do their official work.

    The process of placing orders online for goods is very simple and straight forward. Attempting a comparative analysis of conventional and online shopping, Mr. Ignatius Owen said: “Online shopping doesn’t come with any stress as you can do it anytime, anywhere  and at your own convenience. Still, you get value for money.”

     

    ABC of buying online

     

    Offline Manager at Jumia.com.ng, Afam Anyika, said there are simple procedures required to shop online. These include logging on to any online website by typing the store’s name and follow other commands as may be required on the browser

    “Simply log on to any online shopping website by typing the store website on the browser, that is, the store name.com.ng. In some cases, choosing Nigeria on the ‘choose a country” section might be needed and if one is a new customer, he or she would be required to type in an email address and click on ‘Sign Up Now’,” hesaid.

    The next step, according to him, “is to click on the category name on the left hand side of the homepage to view the products within categories or use the search bar located at the top of the homepage to find preferred products. “Select a preferred colour/size and then click on ‘buy now, to add choice product into cart. Note that it is important to click on preferred payment option before clicking the ‘Place order’ button.

    “It is time to fill in contact and delivery details, then click ‘Save And Continue’. Choose a preferred payment method after the buyer must have chosen goods.  It could be delivered anywhere, using different methods. Cash on delivery or the free returns & exchange methods. At this stage, the order is complete; an order number will then be generated for the customer with which he or she can use to track the order,” he explained.

    He continued: “It is important to click on ‘Proceed To Checkout’, tab to complete the buying process. At checkout, the buyer will need to fill in personal details and shipping address if he or she is a new customer.

    “However, it is important not to hesitate to contact customer care via email, Facebook, Twitter or Google+ in case a buyer encounters any problem while placing order.”

    Corroborating Anyinka, an online store worker, Tomiwa Oladele, noted that all a prospective seller or buyer is required to do  are simple basic steps. Tomiwa works at Kaymu.com.ng, an online shopping portal,

    “It is easy to find the product one wants by using the search box at the top of the homepage or the category tree on the left. Then use the filters on the left to choose preferred brand, colours and price.

    “The next step is to select payment and shipping method and click on the ‘confirm’ button to confirm purchase. A buyer can either choose cash on delivery or any of the other payment options after which, a confirmation email will be sent to buyer to validate his or her order as well as the seller details.”Oladele said.

    A customer support worker at dealdey.com, Toyin Adeyeni, told The Nation Shopping that what to do when trying to buy goods online is to understand the basic rudiments.

    “All it requires is to type the store name on the browser click sign up, fill the form and register, after which the buyer signs in with details (username and password). It is time to click on preferred deal and buy, redirecting the buyer to his or her cart. If the buyer wants to continue shopping, he/she should click on the continue shopping button, if not, he can proceed to payment.

    “It is important to know that proceeding to ‘payments’ takes buyer to the different payment options available where he or she is asked to select preferred payment option (if money is in wallet, a buyer is expected to select wallet) and follow the instructions to complete order or such persons can make on-line payment from bank accounts using ATM cards such as Verve, Master-card or Visa card. Buyers can also pay directly into the company’s accounts.

    “Once confirmation of payment is received, the buyer’s wallet will be credited and he/she will be notified of credit after which buyer can sign into Dealdey account and click on ‘buy’ on desired deal to make a purchase and complete order,”she said.

    However, buyers such as Ewaoluwa and Amara are among those sustaining online retailers in this part of the world since it started about  two years ago.

     

    Bridging the digital divide

     

    With a population of 170 million, 130 million active lines, 66 million of which are used to access the internet, Nigeria is the biggest internet market in Africa. Between 2000 and 2013, internet penetration grew from a paltry 0.06 per cent to 38 per cent. Teledensity is now 93 per cent and there are indications that the trend will continue well into 2020.

    The country will remain the largest internet market on the continent in the near future because it has a large youth population (one-third of the population is between the 10-24 years age bracket) and a growing middle class (estimated at 23 per cent, approximately 39 million-of the population according to Renaissance Capital in 2011). Nigeria has a large number of the two classes of individuals, which traditionally drive internet usage. They are  the middle class and the young people.

    The size of this market makes it a fertile ground for online business, internet advertising, software sales and Internet service providers.

     

    Benefits of  online shopping

     

    Shedding more light on customers’ patronage of online platforms, the Managing Director of  Kaymu.com.ng, in Nigeria, Evangeline Wiles, said the enormous growth rate being recorded on the e-commerce sector, about N1.3 billion per month, is driven by the middle class.

    Wiles said the growth of online based transactions in Nigeria records over $2million, about N320 million  per week and about N1.3 billion a month from the 38 per cent of Nigerians, who prefer to buy products through the internet.

    He noted that as Nigeria continues its movement towards a digital economy, online transactions are expected to reach N1 trillion, boosting the cashless policy of the Central Bank of Nigeria (CBN), aimed at reducing cash-based transactions.

    He said: “Online marketing offers a level playing ground for large businesses as well as small and medium scale businesses to operate in the global market place and for regional businesses and communities to participate in social economic and cultural networks across the globe. With the growing successes recorded in the country’s e-commerce space contributed largely to the middle class of the economy, the low income group is also a potential target for business investors and mass products.”

    The International Telecommunications Union (ITU) also report that almost 40 per cent of all internet traffic from Africa comes from Nigeria, thus, rating the country as Africa’s largest mobile and internet market.

    Nigeria takes over from Egypt and Morocco, which have been among the highest internet user rates in the region, with Egypt having about 12.6 million people with access to the internet while Morocco has 10.3 million.

    Considering the immense economic potential Nigeria has in terms of sheer market size, it is the contention of analysts that the online shopping platforms would continue to grow in leaps and bounds as long as the adoption of social media as a viable market platform.

     

     

  • Administrator challenges judiciary on online fraud

    Administrator challenges judiciary on online fraud

    The Administrator, National Judicial Institute (NJI), Justice R.P.I Bozimo has called on the judiciary to be well prepared to tackle the challenges posed by electronic banking.

    Speaking at the 14th National Seminar on Banking and Allied Matters for Judges held in Abuja and organised by the Chartered Institute of Bankers of Nigeria (CIBN), he said the introduction of electronic banking system in the country came with its myriad of challenges.

    Some of these challenges, he said, include malfunctioning of ATM machines, network failures, online theft and non-availability of financial services, payment of hidden costs of electronic banking such as short messages services (SMS) and other numerous hidden charges.

    Other challenges, he said, are lack of disclosures, errors in operating the machines, lost or stolen ATM or debit cards.

    In some cases, he insisted, billions of naira are lost electronically from customers’ accounts by third parties who are scammers. Fraud and money laundering are perpetrated through electronic transfers accentuated by trans-border banking. Scammers steal customers’ identities, forge signatures and siphon depositors’ funds.

    All these challenges, he said, usually lead to legitimate legal claims between the banks and customers, especially when they are occasioned by lack of cyber security. It is when these claims are presented in court for proper adjudication or determination, as the case may be, that the success and importance of this seminar is most evaluated and appreciated.

    He said the the theme for this year’s seminar is “Banking in Nigeria in the Electronic Age: Pertinent Issues for the Judiciary.

    This theme, he added, is fitting for two reasons. “The first reason is that the focus of the National Judicial Institute’s programmes for this year is information and Communication Technology (ICT). The second reason is that electronic banking system in Nigeria has taken off full blast culminating in the cashless/cash-lite policy of the Nigerian government. It can, therefore, be seen that there is no better choice of theme than the one we have and now is the most appropriate time for this discourse,” he said.

    He said that while the National Judicial Institute is the intellectual arm of the Nigerian Judiciary, the Chartered Institute of Bankers of Nigeria equally facilitates the intellectual and academic programmes of the banking profession in Nigeria.

  • Insurance firms launch first online auto policy

    Insurance firms launch first online auto policy

    In its quest to encourage insurance culture, six leading insurance companies including AIICO Insurance, Custodian & Allied Insurance, Leadway Assurance, NEM Insurance, Royal Exchange Plc and Sovereign Trust Insurance along with the National Insurance Commission and Hightower Insurance Brokers at the weekend launched MyAutoGenius.com, arguably Nigeria’s first online insurance comparison platform that promises to provide car owners across Nigeria with auto insurance policies within five minutes.

    With 15.5 million cars in Lagos alone and over 14per cent of cars on Nigerian roads uninsured or driving with fake insurance policies, there has always been a gap to access an insurance intermediary channel that will provide the advantage of convenience, speed and authentic insurance covers in real-time.

    All insurance policies bought on myautogenius.com web or mobile sites will also  be uploaded instantly on Nigeria Insurance Database (NIID), by Hightower Insurance Brokers Ltd (The brokerage company behind AutoGenius), to guarantee its authenticity.

    At the launch, Mr. Kola Oyeneyin CEO, Venia Technologies Limited, owners of myautogenius.com, demonstrated to the audience how fast and easy it is for prospective clients to buy their car insurance covers available from the leading insurance players in the country within five minutes.

    Speaking on the new innovation, the Deputy Director of the Nigerian Insurance Commission – Mr. Segun Farinu, who represented the National Insurance Commissioner Mr. Fola Daniel, said the entire insurance industry in Nigeria is excited about an expected positive impact that technology would have in the insurance sub-sector, especially with initiatives like myautogenius.com.

    He said that the seriousness of the insurance industry was evident as all partners have come out in full support of the transformation drive embarked on by the team at AutoGenius.

    Echoing similar sentiments, Mr. Onyeka Akumah, Lead Marketing/Communications Consultant at AutoGenius also explained that leading up to the launch, the  marketing team created hash tag #OneGuyLikeThat to ask Nigerians about their ‘One-Guy-Like-That’ experience in general and as it concerned auto insurance.

    With over 204,285 Nigerians reached in seven days of starting off the campaign, there was a lot of buzz and expectation to the launch of AutoGenius in other to understand what exactly Nigerians were to expect from the platform, Akumah stressed.

    Other partners who were well represented at the event and support the platform with added advantages for users who will purchase their auto-insurance policies through the platform include AA Rescue, and Oando Marketing Plc , which had Mr. Mobolaji Bamiro  representing its Chief Executive, Mr. Yomi Amobokun.

  • Firm unveils online portal

    To infuse new standards  into shopping, a fashion e-commerce platform, Traclist, has upgraded its portal to provide its customers with unique online experiences.

    The platform, designed to ease   fashion shopping, would create seamless connections between merchants and buyers of local and international labels.

    The portal shows customers can register and log into personal accounts with opportunities to add various products from diverse fashion merchants into one shopping cart. The e-commerce platform also provides customers with an all-in-one comprehensive two to  five days’ delivery service via its logistics partners to destinations nationwide.

    Traclist’s Managing Director, Traclist, Mr. Emotu Balogun, said: “We are introducing a unique and superior customer experience to lovers of fashion, which will deliver a proper online marketplace with a guaranteed return policy like never before.”

    It provides a rounded service where customers, subscribers and followers of the brand can access a self-styled fashion professional for tips on mixing colors and dress combinations.

    The portal is a niche online fashion marketplace, which supports local and international products from Small and Medium Enterprise (SMEs) in the industry.

    Other offerings on Traclist include products ranging from sport gears to fragrances, shoes and flats, shirts, accessories, fashion adjacent in men and women clothing among others.

    Adolescents and children also have colourful varieties of casuals and sport collections provided on the Traclist e-commerce platform.

  • Afrinvest introduces online trading solution

    Afrinvest introduces online trading solution

    Afrinvest Securities Limited, has announced the launch of Afrinvestor.com, a portal that enables individual investors and institutional clients to trade Nigerian stocks and other investment products online, using their personal computers and other smart devices.

    Managing Director, Afrinvest Securities Limited, Charles Egbunonwo, said the firm has always placed a premium on the use of technology as a business enabler, adding that the product would empower clients to take more control of their investments, supported by sound investment advice and professional guidance.

    “With Afrinvestor.com, our clients and investors will not only be able to initiate and execute trade online, they can also view their account information and portfolio performance, access a wealth of in-depth equity research as well as market data and intelligence on companies, key sectors and the broader Nigerian economy, all from the comfort of their homes or offices,” he said.

    He said the move to electronic trading compared to floor trading continues to increase with many of the major exchanges the world over now doing all their business online. Benefits to investors include reduced cost of transactions, greater liquidity, greater competition, increased transparency and tighter spreads, especially for commoditised, exchange-traded instruments.

  • The growing influence of Online stores

    The growing influence of Online stores

    Online stores have faced series of litmus tests bordering on credibility. Today, they seem not to battle to assure Nigerians of their genuineness anymore, as the toga of incredibility is gradually becoming a success story. TONIA ‘DIYAN writes.

    At the early stages of its entry into the Nigerian marketing space, online stores, a novel concept that is now reshaping the way shopping and marketing is done, was a pariah, as it was not a first or second option for prospective shoppers. However, with growing awareness in technology and more exposure to western markets, the tide is now changing. Therefore, the once despised mode of shopping is now the beautiful bride being embraced by techno-savvy shoppers.

    The reasons for this change are numerous; one of which is the ease of buying and paying that it offers. From the comfort of one’s room, purchase, payment and delivery are made. It is for this reason, and more, that online stores and platforms are gradually gaining credibility and warming its way into the hearts of Nigerian shoppers.

    The Nation Shopping gathered from a source that online operators have partnered with foreign experts who have vast knowledge in running such business models and expertise, thereby,  gathering from across the world the ‘technical know how’ to grow online retail stores that will be the solution to retail in sub-Saharan Africa.

    From observations, of the 40 million Nigerians who are online, a sizeable amount actually visit online stores, resulting to a rapidly growing trend in visits and purchases. It has also been noticed that a target group of individuals who have access to the internet and are in the age range of 18 to 40years shop more on line in Nigeria.

    The common questions among shoppers which use to be: ‘Can i trust Nigerian online stores?’has suddenly become ‘Which of the online store do I buy from?’ People are gradually migrating to buying items more online with the introduced ‘pay on delivery method’(see and touch what you are paying for) which is introduce to convince the average  Nigerian man that nobody intends to steal from him. This method of operation gradually built trust in the minds of many who now shop for items online.

    Many observers believe that the market growth and credibility this sector has achieved in a short time, is enough to convince people that it is a comfortable place to shop. But, shoppers who are still afraid about online fraud, are advice to seek sites that have been tried and certified safe or ask questions and do thorough background checks before spending their resources.

    Flashing back to when online business kicked off in the country and some of its success stories when it was some months old,   Jumia head, Jeremy Hodara said : “ Our reliability lies in our increasing number of page visits daily; our rise to the fifth local content site in Nigeria (from seventh, 10 months after we began operation), and our over 400,000 social media community and relocation to a 4,000 square metre warehouse, all achieved in 10 months of operations. Efficiency is in numbers, and in our case, the numbers have continually spoken for themselves.” He said.

    Generally, online stores are identified by how they sell themselves, as such, the quality of website and the constant innovations on their users’ experiences, is on the rise and operators say, this is an indication that they run a transparent business.

    According to Jumia head, Jeremy Hodara, “ We are  prompted to use the ‘payment on delivery’ method with a seven-day return policy more in Nigeria compare to other African countries where we operate so that we can project transparency because we know that we have many doubting thomas here. Apart from that, we also want to be able to provide quality and convenient retail services always. And this is working for us.” He said.

    Jeremy added that, there are evidences to show that online stores have grown to become credible in this part of the world. “As we continue to count our blessings and name them one by one by the success stories we now tell. We have been able to create several initiatives around Corporate Social Responsibility (CSR) through reaching out to the destitute in the society in company of notable friends in entertainment and the media who believe in what they do.”

    “In the cause of this business that was once doubted, we were able to  host a customer-focused group through which we came face to face with a select group of customers, an experience we found quite endearing and one that reminded us that we are in the right place. This happened in less than a year.”

    To ensure that Nigerians get involved in the trend, aggressive marketing, constant education through various channels (particularly social networks), increased brand awareness and offline activations including offline sales are introduced into the business model. Text messages and emails are constantly sent out to people so that they can track online activities, and be the first to know of amazing deals and bargains as soon as they come up.

    For Sim Shagaya, Konga’s boss, ‘Merging e-commerce and social networking has never been this good, buying quality products via the internet has never been this easier.’ He advises Nigerians to  always look for the best and reliable stores online; saying it is also wise to take advantage of promos and discounts as they unfold. “This business requires a lot of research before you venture into it. Once people get used to something, they ignore the risks and see it as part of their daily lives.” He said

    He added that about a year ago, he realized that for his services to be really valuable to the society, he should  build a platform for anyone, not just Konga, to sell and prosper. “We launched this platform to a limited number of sellers and in that time, we have learned how to build a truly revolutionary Nigerian online marketplace.”

    The authenticity of any online store has a lot to do with how close the website connects with consumers, emotionally and physically and this, operators take seriously.

    The Nigerian online store runs an operation that cuts across board from purchasing to up loading content on its website up to marketing the products and delivering to customers.

    The perception that only the rich shop online is wrong, with as low as N100, you can buy airtime online at a quick teller. You can also order food online at hello food.

    Online store also offer offline services

    An online market place for used and new items, such as smart phones, computers, shoes, clothing; home appliances, Kaymu.com came together with other e-commerce retail outfits to provide a viewing spot for football lovers to view the FIFA World Cup recently played in Brazil. The firm  said, this follows the pattern adopted every celebration providing an opportunity for online stores to explore their creativity and come up with unique marketing communications targeted at consumers.

    Also, Konga.com began the year with the screening of a film ‘Crocodile In The Yangtze (The Alibaba Story)’, which was geared towards encouraging entrepreneurial Nigerians to move forward with their plans and work in line with upcoming launch of a service that will help make it easy for them.

    “The first quarter of the year will see Konga launch its Super Savers, where we have launched a massive clearance sale that will run till the end of February. We have also launched a daily deals platform that will give Nigerians access to limited time offers across the Konga website.

    Konga has put up a radio programme with Beat FM and Brilla FM to reward consumers with discount codes to shop for free on their website.

    Konga has provided an offering which  caters for  wholesalers/ retailers, road side/ market traders in Surulere, Alaba, Aba, Onitsha, Kaduna, as well as enterprising individuals across the country with amazing products. The purpose for this is to revolutionise the way buyers and sellers interact, with a model that is more convenient for the seller and more attractive to the buyer. It will serve as the great equalizer/nation builder which will continue to boost employment, trade and powering economic growth and development in the country.

    Maxitech, a computer and electronics dealer based in Lagos who has benefited from the earlier launched Konga market had this to say; “I have been selling computers for a number of years now in Lagos and to customers in neighbouring cities, but I must admit that what Konga.com has been able to do for my business has increased my sales portfolio not only locally but nationwide.

    Likely growth, two years from now

    Online shopping by urban consumers will be more than double over the next two years, this is according to a source. Explaining reason as; digital influence is rapidly expanding to small urban towns and rural areas, thereby, increasing the number of mobile users in country.

    According to the source, discounts will not be the only driving force for people to switch to online shopping, as was previously thought, but factors like convenience and access to wider assortment is also largely to influence shopping decisions as time goes on.

     

  • From factory to online freelancing

    From factory to online freelancing

    There is a crop of young people who have chosen to defy the odds and succeed in their micro business endeavour. One of them is Godfrey Elabor who has discovered a goldmine in online freelancing. DANIEL ESSIET reports.

    For many savvy online entrepreneurs, Chief Executive, Elabnet Innovation, Lagos, Godfrey  Elabor needs no introduction.  He   is an entrepreneur, speaker, and blogger. But he started as a factory worker.

    The pay was small enough to discourage him from aiming high, but he was not deterred. He believed he would become an entrepreneur one day. Consequently he decided to launch a search online for a business that will pay better. In the  process , he  discovered  there are opportunities for online marketers.

    Subsequently, he began setting aside N5000 and N10, 000 from his meager salary  to buy books online that could help him achieve his dream. One area he discovered was fertile,  is electronic book publishing. Though there  was  competition, he  deployed  the strategy of  publishing books   for  niche  markets  and  in areas  that  could  solve  people’s problems.

    He started selling eBooks. He set up a site on the net, got   a very simple web page online. He started seeing sales trickling in and he then took more interest in it, promoting his ebooks online in his  spare time.

    He tried his hands on  everything, before he started to realise full-time income. He   spent literally 12-14 hours a day, seven  days a week trying different techniques, copy, and ideas online. Now that he has  acquainted himself with  every strategy and tips there is, he can almost take any business online and turn it to a money spinner in a few months.

    Since 2008, when he decided to launch out, the story has changed. Today, he owns different businesses that now generate earnings in dollars from online sales every year.   He has a good clientele base.

    His exposure on the Internet and having good e-books selling online, help people discover him through the net, to explain a few tips and secrets on how to make money  online.

    For him, anything is possible with a plan, especially with amazing tools at one’s fingertips. As more and more people got online, he  said   many standard marketing techniques are   getting overused and becoming ineffective, and   so  has  to   develop “twists” to most of them to ensure they still made  profit when everyone was using the “regular” approaches to online marketing.

    The techniques he uses to market online are very unique. He   took those ideas – and with a little ingenuity and creativity – adapted them to the net, while in the midst of developing his   own winning formulas for online success. He  came up with formulas that work like wildfire online.

    He has been making  money   selling his services on Fiverr,a  top  freelance  site. When he started, it was a huge risk for him   to quit his job and rely on Fiverr for an income. At first, he   was  earning about  $200, so he   had to rely on savings for about a month. But money started coming in. Today, Fiverr is his   main income and full time job .Elabor put a lot of work and time into his business on Fiverr, and he   thinks  that’s the main reason it’s so successful. He aims for 100 percent customer satisfaction, he  listen to his   customers, and he  always deliver quality work. He   would never deliver something he   was unhappy with. There’s no “secret” or short-cut to earning money or being successful.

    He  said  one   have to work hard and believe in what he   does. Returning customers make up a lot of his sales and word of mouth brings him lots of new customers, so always listen to them and look after them.

     

     

    Fiverr has changed his   life. The freedom to work when he  wants, doing what he   wants is the best thing about the site. I

     

    t allows him to take days off, enjoy himself and spend time with his friends, which is important to him.

    Today, with the help of Fiverr®, he is   helping other young people  start their own businesses.