Whats the future of Nigeria's E-commerce Business in 2020 and Beyond?
by Izuchukwu Chikwendu
Portharcourt | June 14, 2020
It was March 26th 2020, I came back from an official trip right into a Covid 19 sponsored lock-down. I have been forced to work from home ever since, remote working started getting very attractive to me and I literally started pondering on many thoughts. Majorly among them was the impact this pandemic will have on businesses and which businesses stood a chance of survival.
I watched as almost everything literally rushed online, Worship, School, Business, Training etc in order to remain relevant or reachable. I watched as formerly plain rigid websites started becoming interactive. Then it hit me.
"The resilience the world notices on businesses, organisations ( no matter what type) which have strong online presence during this pandemic, will have a tremendous impact on its attitude towards the internet going forward."
One of the businesses I thought about is non other than 'E-commerce' which is the business of importing hot quality products mostly from China or locally and selling them in Nigeria at a good profit.
The world was clearly not ready to live in isolation as a result goods and services will still flow from one nation to the other with top dollars going in the direction of sales.
According to a report by techpoint.africa published on the 10th of April monitoring the lock-down purchase behavior among Nigerians: An online drinks company witnessed 300% increase in sales and inquiries. A Telegraph post revealed that some European fashion brands online recorded a rise in sales of lingerie. Techpoint in the same report reveals that google searches in Nigeria for lingerie since February increased by almost 100%.
I know a Pastor family friend who ventured into e-commerce last year importing mostly shoes from china to sell in Nigeria.
He Prefers to Remain Anonymous But Here is a Breakdown of What He Did:
1. He Took His Time to Find & Import a Hot Product:
This is actually the first step to take in order to succeed with the smart ecommerce business.
You MUST ONLY import products that are PROVEN to sell.
One way to do this is by using what I call the 'Ecommerce Product Litmus Test' - The way the litmus test works is - you create ads and try to sell the product before you pay a dime for it.
If a lot of people show interest in buying it, that is when you actually import it. In his case, he used the litmus test to try out different shoes for men only.
Out of the shoes, men went gaga for some of the brands. He imported those brands and sold over 200 pairs with profits not less than 5000 Naira on each.
3. He Used Facebook & Whatsapp to Market:
The next thing he did was to use a combination of Facebook & Whatsapp to get buyers and sell to them. He got most buyers from facebook while followup and deal closing was done mostly on Whatsapp.
First, there are a lot of buyers on facebook for all kinds of products. So he targeted the right people by sex(male), age, location etc.
If he was to sell female things, Instagram would have been really key.
This doesn't mean you should only use facebook,Instagram or whatsapp for your business. It is just that they are key traffic sources. You can test as much platforms as possible
4. He Used Pay on Delivery:
Pay on delivery is a fantastic way to get more sales than when you ask people to pay upfront.
Many Nigerians are skeptical about buying things online from someone they don't know.
But when you give them the chance to pay on delivery, you will get more sales.
You will also get some returns but it won't matter and it won't be much if you follow the next advice.
5. He Delivered Products Within 24 - 48 Hours:
Most of his customers ordered from Bayelsa, Uyo, Owerri, Enugu and since he was getting an average of 5 orders a day, he found a way to deliver the products same day or within 48 hours.
That way, his returns were very low and he made a lot of profits.
This Pastor's testimony is another proof that the Ecommerce business is very profitable.
You can make millions from a single product when you use this smart e-commerce approach
Later on, you can expand to more products.
Right now, the overall E-commerce business in Nigeria is booming.
As early as 2018 according to a study published on Leadership.ng, the E-commerce industry in Nigeria was worth $13 Billion (N4.5 Trillion) as you can see below:
This is one of the reasons why I highly recommend this business model.
I also recommend the E-commerce business model because:
So, How Come a Lot of Nigerians Are Not Doing This?
There are three reasons:
(1) They don't know about the business
(2) They know about it but they lack enough information to get started and succeed with it.
(3) The smart ecommerce business works best if you have at least N50k as capital and willing to do a little work.
But the good thing is that you can turn your capital into a lot of profits within a few weeks if you use a proven system.
Talking about a proven system, permit me to invite you to a guy who has helped many people to succeed with their smart e-commerce business in Nigeria.
His name is Jonathan Melody
He has recorded a comprehensive video training where he explains how you can start a smart e-commerce business and make it profitable within a few weeks.
This Video Training Will Show You:
Click the button below to access the video training.
One more thing...
In case you are having doubts about if this business model will work for you or not, my answer to that is - IT WILL WORK FOR YOU
As long as you follow the simple rules that Jonathan Melody explains in the video training.
Just wait until you see the various testimonies from Melody's students in this video
It is now your decision to make.
Watch the video training to get started