The Nation Newspaper

Tag: retailers

  • Online stores, limelight for retailers

    It is no longer news that the internet is known to break barriers of any kind, obstructing communication, trading and all other productive activities, hence, retailers and traders have being advised to revolutionise with this trend as almost everything including the good and the bad is now done online and this can be good for business no matter the kind of good being sold.

    Trading through online platforms which include online stores, social media and the likes help retailers have a wider reach to their prospective customers both home and abroad. This is because the barrier of distance has been successfully broken by these online platforms making it possible to strike business deals, trade and shop with known and unknown persons that one could have never met.

    Also, online platforms help to create a mutual relationship between the traders and the buyers, most especially social media like Whatsapp, Facebook, Skype, Twitter, Instagram. These social media have made the buyer and seller have a first-hand relationship, most especially a one man trader unlike online stores that have customer care hotline to enable them get feedback from their customers. This feedback is what allows these stores know the minds of their customers and how their services are viewed by their customers.

    Unlike the traditional market, traders are unable to know how their customers feel about goods and services rendered because if these customers conceive it as unsatisfactory after a first visit; they decide not to patronise such trader again without such trader knowing. But with the help of online platforms, customers are free and able to voice out. Traders then use these feedbaks to improve their services and maintain a cordial relationship with their customers.

    Convenience and time saving factor is another reason why traders and retailers should move with the trend of online trading. Instead of having to shop in muddy and crowded markets, online platforms have made it possible for buyers to order for their desired goods in the comfort of their homes. Also, the fact that one does not have to force his or her way through the crowd to various stores to find one’s desired good leading to so much time being spent, the time spent is now reduced as online shopping is determined by the speed of one’s network.

    Traders who have online stores are at a higher advantage as they become easily accessible because of their activeness in the virtual society and traditional market making them accessible to all class of the people in the society.

  • Retailers urge Buhari, Ambode, Amosun on infrastructure

    Retailers urge Buhari, Ambode, Amosun on infrastructure

    Some market leaders in the Lagos metropolis have urged Governor  Akinwumi Ambode and his Ogun State counterpart, Ibikunle Amosun, to address their challenges.

    The Nation Shopping met with the leaders of Ibafo Market in Ogun State and Saw Mill market in Lagos, among other markets as well as retailers in shopping malls and super stores across the states.

    Alhaja Fawusatu Ikumapami, the leader of Ibafo market in Ogun State, urged President Muhammadu Buhari to prioritise electricity supply, adding that when there is adequate generation into the national grid, Ogun State government will ensure power supply to the market. “We need steady power supply for our businesses. If electricity supply is steady here, the market will attract investors from far and near and will be more developed than what it is today,” she said, adding that the governor should help reconstruct the bad road leading to the market.

    She said these would help traders spend less on transporting their produce to the market and would make their customers visit again and again.

    “We want our governor to give Ibafo market in Ogun State a face-lift. The market is small, and we want it rebuilt to accommodate all of us. We are facing the challenge of free movement and some of us are left with no choice but to display our wares on the walkway and on the road and outside the market.

    “We have a land that is wasting away; part of it has been turned to trailer park, we beg the new government to help us utilise it and build a bigger market for us. We also need a local government of our own and want close monitoring on those that will be working on this project, some contractors sometimes do not carry out their duties diligently,” she added.

    Like Ikumapami, the leader of Saw-Mill market in Bariga-Lagos, Mrs. Abibatu Amusa  also wants steady power supply,   good road network and pipe-borne water in the market. Most importantly, she wants the electric pole in the market that has fallen erected to avoid any tragegy, saying the pole has been in that position for eight years.

    Mrs Abimbola Adeyemi Sumola representing the Iyaloga of Oyingbo Market, said their hopes were high that soon, the face of the market would change. ‘’We expect that the new government ensures good welfare for us. We always want to be part of ultra modern markets when they are built. We no longer want to be erased from the  picture and forgotten. We beg the government to build low priced shops and stalls that are affordable to the common man,’’ she said.

    Alhaja Mufuliat Abimbola Adebumi the Iyaloja General of Mushin Ojuwoye Market, said much was expected from the new administration as they have promised change for the better. ‘’The issue of security should be looked into and adequate security in our market to be provided. Sometimes, when we leave our goods outside for those who do not have shops, we don’t find them the next day,’’ she said.

    Mr Abdulrasheed Ariji, a representative of Office Everything store at the Silverbird Galleria said he expects that with the new government, exchange rate of the naira would be stabilised to favour  traders who sell imported goods.

    For Mr. George Nwokocha of Mega Plaza, his expectations are numerous. He said: “The main issue here is electricity. For many years,  millions of dollars have been pumped into the power sector but, there is little or nothing to show for it. Most times, we pay electricity bills that we do not use. But, if power is stable businesses will thrive because that is the backbone of businesses in Nigeria.”

    Oluwaseun Lasisi of Spar super store, said: “I think the government should address the issue of foreigners who are here to do business and use young Nigerians to build their brands and later lay them off without benefits. Most of us are suffering in silence.“

    The management of Leisure mall in Surulere agrees no less with the others. To them, the starting point is fixing the power sector. ‘’Electricity should be made available for use because lack of it has led to the closure of some businesses that we know of. Also, there should be a tax review. It should be reduced or better amenities provided,” he added.

  • 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.

  • 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.

  • Retailers swallow online food cost to lock in shoppers

    Big retailers are taking a calculated hit to margins to invest in online grocery operations, with the hope they can persuade consumers to add more profitable items like clothes and computers to their orders of fruit and vegetables.

    According to Reuters, food has been one of the last things to move online because complex logistics for fresh, chilled and frozen products make it an expensive business. Retailers are also reluctant to lose the potential for the lucrative impulse buys that occur in-store.

    However, retailers in Europe and North America are now ramping up their online food offer to compete with Amazon.com, which is expected to expand its sale of fresh produce beyond a few trial areas with the aim of complementing its non-food sales – and eating other retailers’ lunch.

    “They are trying to hook customers up to brands for their grocery shop and hope they will spend on non-food which is lower headache and higher margin, which will drive profitability,” said Sophie Albizua of retail consultancy eNova Partnership.

    “It is notoriously difficult to make money selling groceries online. The reason why people do it and need to do it have nothing to do with profit and nothing to do with groceries.”

    Britain has led the way in selling groceries online, with e-commerce already accounting for some five per cent of food sales. Other countries like France are now catching up and the Boston Consulting Group (BCG) predicts the global market will grow to $100 billion by 2018 from $36 billion last year.

  • Price war among retailers as year enters second half

    Price war among retailers as year enters second half

    As the second half of the year begins, competition in the retail landscape is getting more intense. With pricing as key determinant of who attracts more patronage, savvy retailers are dangling mouth-watering discounts to remain competitive and avoid losing sales, reports TONIA ‘DIYAN.

    The retail environment has literarily become a theatre of price war among retailers. The retailers most of who are eager to remain competitive and avoid losing sales, are offering irresistible discounts to existing and prospective customers as the second half of the year begins.

    For instance, Sixth Sense, a furniture outfit, is launching what is called a ‘significant’ reduction in prices of often-purchased items, saying the decision is to satisfy customers and possibly entice new ones.

    Contenders in the Home and Furniture section are already seeking to win back budget-minded customers who have migrated to discounters such as Life mate and Bedmate who recently started lowering the prices of over 7, 000 items and giving out discounts on. It is the same thing atthe clothing section where, Mr Price,a South African clothing outfit, is doing a round of price cuts despite the increased competition among retail stores who sell similar items. Mr Price,which tops the list of clothing stores, and is theanchor tenant at Leisure Mall in Surulere, Lagos, is also stepping up in advertising and mail promotions. The firm has already announced a 10-15 per cent reduction on items beginning from the 1st of this month.

    The General Manager, West Africa, Mr Price, David Botha, said his store has stepped up its game to satisfy customers this second half of the year by slashing prices with generous discounts. According to him, the strategy will help the store sell all old stocks to allow new ones come in. “We also want our customers and prospective customers to experience sales of cheap but quality items, which we always make available. We encourage shoppers to buy from our store today instead of our competitor’s website or store tomorrow,” he said.

    Also, grocery chains that are stand alone or high street stores are giving a face-lift to their price structures and customer reward programs to grab back market share from their competitors in the same category. Most of them have lowered the prices of perishables and products that are among the most purchased items in their stores.

    Maku Oladele, who sells baby items at Alade Market in Ikeja, Lagos, confirmed this. He said: “It’s not more than a month since the last price war. This year alone, there has been one price war after another without making profit. For me, it’s difficult to sustain.” She, however, said big retailers still seem fully prepared for price battle as conventional festivals like Christmas and Valentine’s Day are no longer enough to keep up with the demand for discounts. “So they create event out of nothing, just to initiate new price wars,” she said.

    Oladele added that price wars may soon become a battle for survival for small retailers most of who aren’t making much profit. She may not be far from the truth. A shopper who was seen patronising a clothing retailer, said he has been saving money by concentrating on discount periods and that he always plans his shopping around ‘what is on sale by the time.’

    A retail analyst, Modupe Shopeju, attested to the fact that price is the number one factor consumers consider when they pick where to shop. According to her, it is the reason why more people are found in shopping places during promotional periods. “People actually look forward to times like this to make the best of it. Some save towards sales period, some follow the trend and are able to know when sales are on, some do constant check on items in-store to find out if these items are discounted aside finding out what is trendy or new in the market,” she explained.

    Investigations by The Nation Shopping show that retailers who refused to be part of this second half strategy are likely to experience a drop in demand and low sales. This is so because price conscious shoppers are already moving to discounters or are purchasing less-expensive items from such stores as substitute for items they are used to buying or would like to patronise.

    The Centre Manager of one of the Lagos malls, Sander Norman, confirmed this trend. He said retailers decided to lower prices because they are aware that the consumer is price-conscious and because it is one of their many strategies to improve sales at strategic times. “Price reduction has to do with timing, planning and sacrifice; being ready to give out at cost price or below cost price most times,” he said.

    Sander cited Shoprite, saying that the store is priced about three per cent below the other grocery retail, and that is one reason it has gained a fraction of a point in market share since it entered the country in 2005 at the Palm in Lekki, Lagos where it tops the grocery market. Other retailers who already enjoy the advantage of traffic drivers such as groceries and clothing retailers have said they won’t end their use of promotions to drive sales until the month is over.

    Indeed, in the market, the retailer’s value is determined by how well he can satisfy shoppers, even the tech-savvy ones. With price wars being waged all through the year, retailers struggle to make consumers happy and fulfilled by ensuring they get value for their money. This explains why retailers are bracing to the reality of the pricing trend as the second half of the year begins.

    Some retailers have already taken their prices to an all time low, leaving competitors in the cold as they brace up with the need to adjust their price tags in favour of price conscious shoppers. Even online stores woo customers daily with constant price changes to teach their ‘brick-and-mortar’ (traditional retail shops) competitors the need to use price intelligence solutions if they want to compete.Savvy retailers also monitor their online competitors’ prices every day to remain competitive and avoid losing sales.

    Experts say today’s hyper-competitive, omni-channel landscape compels retailers to incorporate all sources of competitive pricing data in their pricing and competitive positioning strategies. Industry experts even say that ‘brick-and-mortar’ shops should expect online gurus to continue to escalate their price war tactics in the future.

    However, one thing is certain: As the price war rages, consumers are the ultimate beneficiaries.

  • Why shoppers, retailers are turning to e-payment

    Why shoppers, retailers are turning to e-payment

    The e-payment system is catching on fast, as most shoppers and retailers ride on the platform to make buying and selling easy and also eliminate the inconvenience of carrying cash for deposits and withdrawals, TONIA ‘DIYAN reports.

    It took quite some time for Rachel Udenmma to fully come to terms with the cashless payment initiative introduced into the country by the Central Bank of Nigeria (CBN) about two years ago. Having savoured the convenience of the cashless or e-payment system, Udenmma has now developed trust for the initiative.

    Today, she easily makes use of any of the e-payment systems available. Rachel pays with her Automated Teller Machine (ATM)card whenever she goes shopping. She now transfers money from her ATM card to someone’s account instead of withdrawing cash. She also prefers to transfer money into people’s account using the money transfer system from one bank account directly to another.

    Indeed, these and many other e-payment methods, which Udenmma now uses are proves that she has fully embraced the e-payment system cards or any other means of payment other than cash for her daily transactions. While sharing her experience of the enormous benefits the e-payment system offers her, she said, “People do not want to risk their lives carrying cash around, but they still do not know what the initiative entails even after two years of its existence.”

    She advised that more should be done in the area of awareness particularly at the grassroots level particularly by the Nigeria Interbank Settlement Scheme (NISS), the Central Bank of Nigeria (CBN), and other stakeholders saddled with implementing the policy.

    Her advice appears to be late in coming, as not a few retailers now encourage their customers to embrace the e-payment system. “Retailers are now always willing to accept cards and other means of payment, discouraging their customers and clients from carrying cash, most times because of the stress they have to go through trying to give their customers change after they have made purchases.” Udenmma said.

    Checks by The Nation Shopping show that many shoppers and retailers who were originally pessimistic about cashless economy have abandoned their conventional ways of transacting business and embraced e-payment. This was after they realised the enormous benefits of the cashless initiative. Some people now shop with e-payment solutions to enable them keep within the CBN daily cash limits and avoid paying huge cash while transacting businesses, among other benefits.

    The e-payment system has indeed, come to stay. Today, Nigerians walk along Broad Street, Marina, and other commercial centres in Lagos and its outskirts with various electronic cards comparable in weight to ordinary call cards. Some e- payment platforms include the ATM, Point of Sale (POS) terminals, and mobile payments.

    For shoppers and retailers, the e-payment option is highly convenient, safe, efficient, and fast. For instance, shoppers can make instant payment through mobile devices such as mobile phones, laptops, desktops, notebooks, tablets (i-Pads, etc) and even through Internet banking and from any bank branch, with beneficiaries receiving instant value. This removes the attendant risk of being trailed by fraudsters and criminal minded people as a result of being in possession of huge cash.

    Apart from speedy conclusion of transactions, electronic payments lower the cost of doing business and saves time. It also reduces cases of corruption.

    It is no longer news that Nigeria has joined the league of countries who have embraced the electronic payment system. The news is that stakeholders have said there are numerous benefits accruable from the adoption of e-payment platforms, therefore; they enjoin more Nigerians, especially those who are involved in buying and selling business to fully embrace the commendable initiative. They have also provided infrastructure upgrade that would strengthen electronic payment platforms, including the Automated Teller Machines, Point of Sales’ terminals and mobile payments in the country.

    A statement by NISS in conjunction with the Association of Heads of e-channel of banks urges Nigerians to adapt their lifestyle to embrace this quick and convenient payment mode.

    These e-payment platforms have become a globally acceptable means for financial transactions and Nigerians cannot be excluded. They are described as highly convenient, safe and efficient. The improved efficiency of the e-payment platforms enhances greater penetration and accessibility to financial services by the people said Nigeria Interbank Settlement Scheme (NIBBS)

    According to the company’s head of public sector, Osamuede Odiase, an upgraded infrastructure would go a long way to give cash-less economy a boost in the country.

    Disclosing that a joint technical committee from the financial and telecommunications sectors, with other stakeholders, would look at the possible ways of mitigating the growing network challenges threatening the growth of e-payment transactions in the country Odiase said; He however acknowledge that there had been ‘quantum leaps’ in the volume of e-payment transactions in Nigeria.”You are better off transacting your business through Point of Sale (POS) and Instant Payment platforms.”

    Also, looking at the security challenge angle, Nigerians have been advised to adopt the global practice of using e-payment platforms to conduct their business transactions, particularly in the face of prevailing security challenges in the country.

  • Rising crop of small retailers

    Rising crop of small retailers

    There are fears that the informal retail sector may go into extinction as a result of the emergence of big players. Analysts have, however, insisted that rather than be driven out of relevance, small retailers have continued to innovate to increase their market share of the retail shopping business, reports TONIA ‘DIYAN.

    They are called small retailers. They appreciate that profit can be made if consumers are satisfied; hence they are stepping up their game to ensure the satisfaction of customers.

    Of course, they understand that the major goal of production and distribution is to enhance consumption.

    They are evolving strategies to be on top of their game, working to retain their market share through the offer of lower prices that are far lower than those offered by big shop owners that have invested much to achieve international standard.

    One of such rising small retail shop is the Home Store at Adeniran Ogunsanya Street, Surulere, Lagos. It sells gift items. By all standards, it is a small retailing outfit.

    Its owner, Mrs Aina Shobowale, said she relied on her ability to gather intelligence information about what customers want and then order such products immediately.

    The ability of small stores to react quickly and directly to customers is one of the most effective weapons they have, Sander Norman, Centre Manager, Ikeja City Mall, said.

    He said: “They can easily determine what is selling and then place orders without wading through a cumbersome bureaucracy. They don’t have to go to the corporate office, wait for their request to be analysed and then shipped to them. They are finding a variety of creative ways to play up the benefits of their size.”

    Norman said these retailers are also using marketing tactics like the usual extra emphasis on customer service and sales promotions. But their most important step may be that they are trying to make the most of their inherent advantages over larger competitors.

    A beauty consultant, Miss Grace Chinemerem- Israel, said almost daily, she spends a lot of time calling wholesalers directly when popular items get exhausted in my shop.

    Now, she has to go the extra mile, paying extra to get her parcels delivered.

    Similarly, Proprietor, Cake Treat, a cake shop at Omole in Lagos, Mrs Deborah Faleyimu, said she had also been watching sales more attentively than in the past. “After the weekend, we will figure out some items we do not have on Sunday night, and then make them available the next morning. We do this to ensure that our customers don’t come and discover they can get what they need,” she said.

    Also, small store owners say they often hear directly from their customers about new products and then see how the items sell.

    A year ago, Mrs Modupe Shopeju of Delightsome Gifts Concept, said customers began telling her how much they liked an egg shape flower vase called the Arewa vase. So she started stocking it. A week later, she sold all out. She re-ordered, and it sold out again in a week. Now, she keeps a steady supply of the vase “You’ve got to pay attention to the feedback,” she said.

    Small retailers also have an advantage over bigger competitors in other areas, particularly customer services, said Mrs Folashade Akinremi, a home management consultant. “Stores are upping the ante with more personalised customer service, particularly if they’ve depended on that for sales in the past.”

    The General Manager of Green Mount Global Limited, Mr Kenneth Okeiyi, said he makes sure his workers have a list of recommendations they can offer to panicky shoppers. He also offers free gift wrapping services to them.

    Taking advantage of those more personalised relationships, some retailers are also doing more direct marketing, especially through e-mail messages and short message services (SMS).

    Proprietor, Corner Cafe, Ms. Joan Philips, employs this personalised services to her clients. According to her, she mails special promotions to all the people on her email list. “I probably wouldn’t be doing so much direct e-mail marketing if I were expecting a different shopping climate,” she said.

    At Delightsome Books & Coffee Shop, Ilupeju, a gifts exhibition was held for employees and clients to promote sales. According to the owner of the retail outlet, Mrs Juliet Morgan, the promotion could add about five per cent to the revenue of the business.

    Another crucial area for retailers of any size is smart use of the Internet. Consumers are expected to do 30 per cent of their shopping via the Internet, according to the National Retail Federation.

    Executive Buyologist of Buyology.com,Yeye Arogundade, said a web site has become a sine qua non in the retail business.

    She said: “If you don’t have a web site in this business, you’re at a competitive disadvantage.” According to her, in some cases, shoppers make their purchases in the store, but using the Web for comparison shopping, checking out prices and ensuring that products are in stock before making the trip.

    Small retailers are also borrowing a leaf from the big stores through increasing their advert spend. Though they cannot match that of the big stores, they try improve. Many of them now cater to more affluent customers; and stores that sell to that market will most likely do better.

    There is need to stress the fact that “small shops” and “big shops” are rather indistinct and that the classification of a unit of business as big or small is different in different places and has changed significantly with the passing of time.

    A survey of the small and big shops revealed that prices vary according to commodities; some items are sold cheaper in the smaller stores than the big shops and vice versa.

    A shopper, Mrs Chinaka Azuka confirmed that over time, she had discovered that some items cost less in small and traditional open markets than the big modern shops. For instance, she buys serviette tissue paper for between N50 and N100 from a small shop in her neighbourhood; the same item goes for N350 in a place such as Mega Plaza in Victoria Island.

    “It’s not everything that I buy from the big shops. You’ll find out that the smaller shops and open market still sell cheaper than the big shops we have today,” Mrs Azuka added.

    For Mary Ukah, she cannot buy items like children’s toys in the big shops, which she alleged are imported and sold at very exhorbitant prices.