Studies have shown that the fast growing strength of e-commerce industry in Nigeria is a function of technology development. The increase in numbers of internet users has contributed immensely to the growth of online trade volumes. In most developed countries people prefer to buy online while some prefer to research the products they want to buy first prior to buying it offline, obviously, we are gravitating towards this stage in Nigeria. The Internet plays a key role in the success of online retailing since Nigeria is also witnessing technology disruption e-commerce has come to stay, but the question is what will the trend look like in 2016.
Some Nigerians still think e-commerce is a scam and buying online is only a mirage but over the space of three years, the volume of sales that came in through electronic commerce reflected on the country’s GDP which is an indication of the huge impact e-commerce has on the nation’s economy. The quicker we realize the world has gone digital the better. Technology has broken different kinds of barriers to make it pretty easier to start and grow a business online – in every industry.
Some 15 years ago in Nigeria we could not buy or sell online, neither was it possible to book local hotels online or look for properties online, but now all these things have been made possible with the help of technology. E-commerce became more prominent in Nigeria in the last two years with the advent of Konga, Jumia, and DealDey. It was pretty difficult at first for most Nigerians to decipher what these major players are doing but with lots of adverts on traditional media, it became more clearer the essence of buying online.
Ecommerce Trend in Nigeria
Ever since e-commerce gained some level of penetration in Nigeria it has become a choice start up business for many entrepreneurs, with the introduction of numerous e-commerce company in the different sector of the economy. 2015 e-commerce witnessed an exponential growth in Nigeria and from expert predictions, there will be more e-commerce company springing up from diverse sectors in the country. The awareness level of online retail among households will double this year compared to what we have last year, more people will get to know about shopping online.
Most online retailers will also move to marketplace where entrepreneurs and sellers can easily list their products online. In furtherance, due to economy quagmire Nigeria is currently going through there might be some acquisition and merger of some company trying to battle those considered major players.
People will shop more online in Nigeria with their mobile gadgets than with desktops, which implies mobile traffic will increase greatly than what we had last year. Top traffic channel for e-commerce in Nigeria will be search engines and because google is the language people understand more, most of the search traffic will be from google like it has always been.
Traditional marketing channels will get more heavy knock from the growing power of the internet. The rapid deployment of technology tools to the internet will empower it to challenge conventional marketing channels (TV, print media, etc) in the battle for the heart of the consumer. On the other hand, any e-commerce company that quickly wants to get the attention of Nigerians would deploy Traditional marketing strategies
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