The Nation Newspaper

Tag: online

  • Online shopping to hit $371b by 2017

    Shopping has undergone a revolution, and it is still changing. It started with an Internet bookstore and an online swap introducing new ways to shop. Fast forward two decades, and online shopping continues to grow.

    In its report, “US Online Retail Forecast, 2012 to 2017,” Forrester predicts that online shopping will reach $371 billion by 2017, when it will account for 10 per cent of all retail sales. The explosion of digital devices and media, open information, real-time word of mouth, and same-day delivery illustrate the landscape is still being created. Today’s shopper is different. The old paradigm days of browsing aisles, reading box sides, and asking questions of store associates have already been replaced by shoppers beginning their research in the digital medium — not just for heavily researched and considered categories like durable goods, but also for lower-priced, fast-moving consumer goods.

    Why? We’re afraid of making the wrong choice: Will I like it? Will my friends like it? Will it actually do what it says? Is it safe? Is it healthy? Is it green? When I went to a baby store recently with the assignment of buying a car seat, I couldn’t get comfortable with the idea of just picking something off the shelf and buying. I had to sit in my car first and research brands and models on my phone. Once in the store, I still couldn’t pull the trigger on the one I liked without first checking reviews online. We’re quickly growing accustomed to mitigating purchase risk by tapping into the vast pools of information assembled online.

     

    The Multi-Device, Multi-Tab Shopper

    Under the old paradigm, people would signal their entry into the market by visiting their favorite store at a convenient time and browsing the right aisle to learn about options. For some purchases, it was worth the hassle of walking or driving to another store to compare more options; but in practice, most shoppers would buy from the first store they visited. Product brands and retailers made huge investments to create the right experiences in and around each retail chain to win that shopper.

    In the new and still-changing paradigm, entry into the market for a new product purchase is much less linear — and much less centered on a visit to a single retailer. The stimulus to buy something may happen at any time. Most of us have a digital device at hand during most of the day: at work, it may be a PC; on the go, it may be a smartphone; at home on the couch, it may be a tablet.

    We always have the ability to run a Google search or visit a retailer website to start learning about options. On the initial search, we may bookmark, pin, or email a couple options to investigate later.         Source: google

  • Connect Nigeria holds writers’ conference

    Connect Nigeria holds writers’ conference

    The first edition of the annual Connect Nigeria Writers’ Conference will hold in Lagos on the April 5th, 2014.

    The conference theme  ‘The Business of Writing’  will be addressed keynote speakers including  Deji Badmus, Sefi Attah, Adaku Ufere, Ike Nnaebue, Abiola Salami, Lekan Otufodunrin, and Seun Salami.

    The speakers will deliver speeches, presentations and interactive sessions that will address topics centered on the business aspects of scriptwriting, online editing, novel writing, fashion editing and other related issues.

    The writers’ conference is part of ConnectNigeria.com’s corporate social responsibility objective to promote knowledge development and skill acquisition in Nigeria.

    It is primarily targeted at undergraduates aspiring to careers for which writing and editing skills are a basic requirement.

    According to Mr. Emeka Okafor, Managing Director of Connect Nigeria, “Connect Nigeria is a socially responsible organization and since we understand that getting gainful employment is a challenge for graduates, we cannot turn our backs against this problem.”

    “Many of these students can start their own businesses and employ other people if they can merge their writing skills with entrepreneurial abilities. Our objective is to empower people with information,’’ Okafor said.

    He noted that writing is a technical skill and as such, it is imperative that the academic community and business establishments work together to enable easy transition of students into the professional environment.

    Though originally established as a company that organizes information about Nigeria with the aim of making such information easily accessible and resourceful for Nigerians, Connect Nigeria has added other dimensions to its business offering.

     

    As part of its vision to empower Nigerians with useful information, Connect Nigeria also organized an e-Business Fair in October 2013 that attracted over 2,000 people.

     

    The fair  was aimed at connecting small business owners with service providers such as banks and ICT firms on how to build and harness modern electronic technologies with their business operations.

    For more information and to register for the Writers’ Conference go to:

    http://connectnigeria.com/articles/writers-conference/

  • Businesstoday Online to hold maiden award

    Businesstoday Online to hold maiden award

    Businesstoday Online has concluded plans to honour insurance underwriters, brokers and firms in its maiden edition of Businesstoday Insurance award in May.

    According to statement by the Publisher/Editor Businesstoday Newsonline, Nkechi Naeche, the award which may be yearly will help to refocus the industry for better performance and be a leading voice in the financial sector in the country.

    She said the award is aimed at recognising insurance companies and individuals that have distinguished themselves in 2013 and have contributed immensely towards increasing insurance penetration in the country.

    She added that the award is in five categories which will be contested by underwriters, brokers, and insurance/broking firms.

  • Online shopping owners, tech people bond

    An online platform owned by Red Media, Y!/YNaija.com, in collaboration with one of the leading online destinations for premium African business, entertainment and travel content has hosted 100 of the most innovative people in the tech world.

    Tagged ‘#YTech100, the event was attended by Nigeria’s Konga’s Sim Shagaya, iROKO’s Bastian Gotter, Google’s Juliet Ehimuan, Gbenga Sesan of Paradigm Initiative Nigeria, among others.

    Speaking at the forum, which focused on technopreneurship among young Africans, Jadesola Osiberu of Ndani TV said with start up businesses in mobile and online payments, e-commerce as well as online content distribution, the tech industry has received over $100 million in investment from local and foreign investors and is shaping up to be a key contributor to Nigeria’s gross domestic product (GDP) over the next 10 years.

    Osiberu said: “Consequently, Ndani TV and Y!/YNaija.com agreed on the imperative to engage the key players and leaders of this emerging industry and facilitate discuss that will drive growth and synergy.

    “It’s very hard to overstate the impact that digital has on our lives at the moment,” Sim Shagaya, chief executive of Konga and DealDey said on the panel discussing ‘Nigeria’s Tech Space: Ecosystem or Bubble?’

    Speaking on the occasion, founder, Open Africa, Emeka Okoye, said: “There is a real thirst for knowledge in Nigeria and so we need to invest in our mind economy.

    “To be a tech entrepreneur you must be willing to make sacrifices, because the technology industry is presently at its lowest ebb”

    The networking event saw the 100 Tech honourees presented with certificates of recognition, Managing Partner of RED and founder, Y!,YNaija.com, Chude Jideonwo said: “You guys – developers, entrepreneurs, storytellers, funders, designers – you guys are the standard bearers for this new reality.”

  • Institute opens online law clinic

    The Nigerian Institute of Advanced Legal Studies (NIALS) has launched an online pro bono law clinic in Lagos.Its Director-General, Prof. Epiphany Azinge (SAN), described the institute as a centre of excellence and a reservoir for legal research and training.

    He said: “That is why today is epochal in the life of the institute as we launch a service that will benefit Nigerians who suffer injustice and grieve in ignorance, because they cannot gain access to legal advice or aid.”

    He said the e-programme would provide free legal assistance to the under privileged.

    “The 2013 United Nations Development Index ranks Nigeria at 153 out of the 186 countries surveyed, with 68 per cent of Nigerians stated to be living below $1.25 USD daily. Also, research conducted by the Public Interest Law Institute (PILI) also suggests that more than 80 per cent of Nigerians cannot access a means of getting quality legal advice in their bid to obtain justice due to poverty and other factors.

    “After questioning and probing these facts, the follow up question is: What can we do about this? How can the apex legal institution for research and learning in Nigeria use its skills and earned expertise to better the life of the common man?” he further said.

    He added that the association was responding to President Goodluck Jonathan’s call to ministries and parastatals to harness the potentials of the internet.

    “In heeding to Mr. President’s call, we have decided to set up our law clinic on the platform of an independent website online; however, this does not exclude the services we will provide by creating a corporeal office-type law clinic in due time,” he added.

     

     

     

     

     

  • Firm berths online payment application

    Firm berths online payment application

    An Information and Communications Technology firm, Simple Pay, has launched a world class online payment application system in Abuja.

    The (ICT) application which was initiated by a Nigerian company, won the 2013 Best New Company award.

    The company is billed to represent Nigeria in Switzerland early next year in a global platform.

    According to the founder and Chief Executive of the company, Simeon Ononobi, the application was carefully designed to give solutions to business challenges, individual concerns and unemployment issues in the country.

    The multipurpose online payment application was to assist individuals and corporate bodies with their internet transactions such as payment of utility bills, school fees, bank transfers, among others.

    Justifying the need for the initiative, Ononobi said the project came as a child of circumstance. “I was stranded in an airport on my way from South Korea. I needed to do something and it didn’t work. That was where the Simple Pay idea came on stream.

    “The idea is to make things simple for Nigerians to transact business online and banish this idea of Nigerians being identified with online fraud. Our objective is to help businesses grow in Nigeria.”

    On his part, YOU WIN Project Coordinator, Dr Shupo Olusi, expressed satisfaction at the initiative of the young Nigerian, saying, “This is something we’ve been trying to introduce to our youths through the YOU WIN programme. These are the kind of programmes we want to see in the YOU WIN scheme.”

     

  • Wal-Mart to deliver packages to online buyers

    Wal-Mart Stores Inc is planning to deliver packages to online buyers. It hopes this will enable it to better compete with Mr Price, also a South African clothing store in Nigeria.

    The store is making a big push to ship online orders, hoping to cut fares and gain an edge over its rival and other online retailers, which have no physical store locations.

    Wal-Mart does this at 25 stores, but plans to double that to 50 this year and could expand the programme to hundreds of stores in the future in Nigeria and in other countries.

    Wal-Mart uses carriers such as FedEx Corp for delivery from stores – or, in the case of a same-day delivery service called ‘Walmart To Go’ that is being tested in five metro areas, its own delivery trucks.

    “I see a path to where this is crowd-sourced,” Joel Anderson, chief executive of Walmart said in a recent interview with Reuters.

    Wal-Mart has millions of customers visiting its stores weekly. Some of these could tell the retailer where they live and sign up to drop off packages for online customers who live on their route back home, Mr Anderson explained.

    Wal-Mart would offer a discount on the customers’ shopping bill, effectively covering the cost transportation for delivery of packages, he added.

    “I’m sure it will be a test in some stores. But they may only keep it for metro markets and for higher-priced items,” he added.

  • How to make it in online business

    From the beginning, President,Internet Marketers Association of Nigeria Mrs Olaitan Wellington deployed technology in her business

    She started a business centre with one IBM electric typewriter, photocopier and telephone.

    “I can’t really remember how much it cost then, but I know it wasn’t that too expensive. That was before the advent of Personal Computers (PC).“

    She spoke of the need for carving a niche and filling it.

    “That was my starting point. But I am no longer running it. However, what I am doing now evolved over time, from that busines,”she added.

    Moving with the times, she researched and began a business online. With time she became an internet marketer and social media marketing strategist.

    Is it expensive to start the business? “It is not expensive. It is very interesting and quite rewarding. As a social media marketing strategist, I help individuals and organisations market their businesses to larger audiences with minimal cost. So many businesses who would not have been able to afford huge advertising now have the opportunity to leverage social media and I show them how to do it properly,” she said.

    What equipment does one need to start with? “All one needs is proper training on the strategies of different social media platforms and how to pick trends. One needs constant access to the internet but smart phones have made that quite easy,” she said.

    Is starting the business easy and quick compared to other service businesses? “Oh yes, very easy, especially for Nigerians because we are social and hospitable people. We are also intelligent and enlightened. An average person can start and make a success of it within very short time, say in three months,” she added.

    On hours of work, her words: ” I can work anytime and am used to working abnormal hours. That can happen to anyone because you find yourself getting carried away while working on the internet. But I have so planned my work that I average 30 working hours per week. One good thing about this business is that there are tools that allow you to schedule your work and even when I am in bed sleeping, my work is being posted fresh on selected social media platforms. People think I am online 24 hours,but those submissions have been scheduled to post at certain times,” she added.

    She targets individuals and businesses. The company, she said, is doing well. Her problem is not being able to satisfy the market because there are not enough qualified people to assist her. “There are clients whom we have not been able to serve because of lack of qualified manpower. The potential in social media marketing is huge and even just evolving.“

    What does it take to run a successful business? “Love of people. You have to love your clients, care for them and think always of ways you can help them. Love, care and help – that’s the secret of running a successful business. If you care for people and help them, they will happily give you repeated business and recommend you.”

    She said one could work part-time. If you plan yourself very well, you can achieve a lot for your clients even while working few hours a day, she added.

    Do you have challenges accessing credit? “My business does not require credit. You don’t even need to rent an office. You can work from anywhere you are comfortable.

    “How much is my business now worth?”

    (Laughter) Let me just say that I can afford whatever I want, when I want it. But then, my wants are not outrageous.

    Finding time for herself and family is one of the benefits of being an entrepreneur, she said.

    “ Since I was a little girl, observing my mum running her business and still having so much time to spend with us kids; being involved in our school activities etc. I loved all that and since made up my mind to work for myself, she added.”

    Does one need any training or certifications?

    “Definitely, one needs training because socialising just for the sake of meeting people and whiling away time is different from socialising for business purposes. There are tactics and strategies involved and they must be learnt; you can’t guess your way around.

    Her advice to other entrepreneurs: “The new language of business success is relationship. Build relationship with your clients, react to their needs and be available. Social media is the cheapest and fastest marketing channel and I strongly advise that businesses who want to reach a large number of prospects should get on it.

    Mrs Wellington is constantly thinking about ways to make her services better.This has attracted a new level and age range of customers.

    For her ,owning a company comes with pretty exciting perks,one decides who one’s co-workers are,if one want any at all, make one’s hours. There was no single formula for success, but the need to stay current, have a passion for learning and be passionate about a business.

  • Online shopping … one year after

    Online shopping … one year after

    A few years ago, the Nigerian internet space had little or no commercial viability. This was because internet usage was still developing and provided limited network opportunities for people.

    Then, an explosion in the number of people that have acccess to the internet with its unlimited opportunities among which is online shopping which has completely changed the face of retail business in Nigeria.

    Online shopping is a relatively new and fast-growing market, which was spurred by the ongoing transformation of the Nigerian payment system.

    However, the emergence of online stores, such as Jumia Nigeria, African foods online, Awoofshop, Yeside store, Sunglasses.com and others has completely changed the face of that sector.

    Today, there are opportunities that online shopping has for the Nigerian retail market.

    According to a study by an institute, Euro monitor based in the United States, Nigeria’s GDP based on purchasing power increased by 21.67 per cent in the last four years. In same period, Internet users grew by 46 per cent.

    Today, online shopping enjoys about 70,000 unique visitors daily, with a daily subscriber base of over 150,000.

    People have been able to buy an assortment of quality products at affordable prices – buying everything from fashion accessories, consumer goods, electronics and home appliances to beauty products and many more.

    Of the 40 million Nigerians who are online, a large number usually visits online stores, resulting to a growing trend in visits and purchases. Also, the stores have grown to become the solution to retail online and offline with people preferring to pay as their goods are delivered to them.

    People can now track online activities, and know about deals and bargains as soon as they come up.

    The notion that buying online is for the rich and elite has been erased. With as low as N100, a person can buy airtime online at a quick teller store and order food online at Hello Food.

    People are encouraged to get involved in the trend, particularly via social networks, such as Facebook, twiter and the likes.

    Recently at an event organised by Jumia online store, Minister for Communications Technology Mrs. Omobola Johnson delivered a keynote address on online shopping in Nigeria, describing it as an engine for job creation and economic growth.

    According to her, there are possibilities in online shopping. “Online shopping is one of the primary drivers of growth in the country’s economy thanks to companies like Jumia.com that have not only pioneered online retail trade in Nigeria, but have also shown people that running such a business model within our shores is possible,” she said.

    She said online shopping had opened doors for the upcoming generation of young Nigerian entrepreneurs, providing a platform for them to express their creativity while acting as a job creation engine to hundreds of others. These stores have attracted important investors and they have great impact on Nigeria as a country and as a market place. That is why at the federal level, companies that know how to make use of these developments to help reshape Nigeria’s economy are encouraged,” she said.

    “We pioneered the online retail market in Nigeria and now people can see its significant impact on the economy,” said Mr  Tunde Kehinde and Mr Raphael Afaedor, co-founders of Jumia.com.

    The CEOs of Rocket Africa, Mr Jeremy Hodara and Mr Sacha Poignonnec, in their contributions said: “Online shopping has opened doors for the upcoming generation of talented and young Nigerians. It has seen numerous talents and aspirations in hundreds of Nigerians and it is assisting individuals in fulfilling their ambitions and ultimately contributing to the nation’s growth technologically, economically and socially.”

    Shoppers have gradually got used to this trend, seeing it as part of their daily lives and they are ready to ignore risk. There are many online stores to choose from. Yeside focuses on fashion, shoes, clothing, bags, watches, jewelries, and all kinds of fashion accessories.

    Buy Right sells electronics, inverters, UPS, mobile phones, cameras, camcorders, storage devices and notebooks, among other things.

    Wahali is an islamic online bookstore.

    AwoofShop sells assorted products, from mobile phones to books, clothing, video games, computers, etc.

    African Foods Online Store sells yam, bitter leaf, Cocoyam flour, Egusi, Garden egg, Ogbono, Palm oil and other food stuffs.

    Some shoppers’ who spoke to The Nation Shopping expressed satisfaction with the trend.

    According to Mr Shola Adegbenle, a teacher at the Hogas International School, Lagos Island: “Merging e-commerce and social networking has never been this good, likewise has buying good quality products over the internet become this easier.”

    Mrs Folashade Odunuga, an administrative staff with the Lagos State Ministry of Education, said: “The online stores, that are successful today, apart from satisfying customers with swift-quality services, have also been able to create opportunities for many startups, small and medium entrepreneurs. In one year, the Nigerian online market has shaped and grown. It is indeed a big achievement to the country’s economy.”

    A marketing personnel at a mall, Mrs Adetutu Bankole, said malls are now realising the value of the internet and are also adapting their range of products and services to take advantage of it.

    “Some shops offer to order items for customers online if they do not have it in stock at the time needed,” she said.

  • Justrite Superstores to Add Online Store to Offerings

    Basking the euphoria of its recently successful ChopLife consumer promotion, the management of Justrite Superstores has declared that the indigenous superstore will unveil its online store variant before the end of the year.
    Disclosing this to the media at the presentation of the star prize of a brand new Hodan Hyma Series 3 car to the winner, Mrs. Oladipupo Adeyemi in Ota, Ogun State, the Managing Director, Justrite Superstores, Mrs. Tosin Aderinwale explained that the management is excited at the outcome of the promo, pointing to the massive crowd that attended the draws.
    “The impressive turnout is testimony of our consistency over the years and that the customers have come to believe in us. It is also indicative of our large customers’ base, which is a pointer, that we have loyal followers”.
    In view of the growing popularity of the indigenous retail superstore in its decade of existence, the Managing Director discloses that the plans are on to increase the number of outlets from two to four within the next seven months. Similarly, its online store will be launched within the next few months to cater for its growing clientele.
    Taking a look at the at the retail industry and business environment generally, Mrs.  Aderinwale noted that access to finance, cost of finance, infrastructural challenges, power, multiple taxation and human capital challenges are some of the problems that businesses contend with in the country and urged the authorities to intervene in the proper sense of the word.
    “Cost of generating alternative source of power, double taxation, billing demand notices by governments – local, state and federal agencies increase the overhead cost of doing business, reduces profit and hampers growth. Therefore, the authorities need to intervene”