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A Shopper’s Guide to Black Friday in Nigeria

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For many bargain-hungry shoppers, Black Friday is the period to look forward to. According to the Research and Development Unit of Yudala (www.yudala.com), Nigeria’s pioneer online and offline e-commerce outfit; Black Friday, traditionally the day following Thanksgiving Day in the United States has grown into a worldwide shopping festival.

Here in Nigeria, the case is not different.

With the increasing popularity of commerce and proliferation of e-commerce sites all competing for the attention of price-sensitive shoppers, Black Friday has become unarguably the most anticipated sales activity in the country

Amid promises of huge discounts and massive deals falling on consumers, the anticipation among shoppers often reaches fever-pitch during this period as Black Friday is generally seen as the best time to shop. For the unsuspecting shopper, it is worth stating, nevertheless, that shopping during Black Friday comes with a certain level of caveat emptor –  loosely translated as the principle that the buyer alone is responsible for checking the quality and suitability of goods before a purchase is made.

Yudala shares useful tips to guide you through the Black Friday shopping fiesta.

Make a list

To get the best out of the mad rush that characterizes Black Friday in Nigeria, preparation is key. Creating a list of the items you need will not help you get a sense of what you want; it will also go a long way in ensuring you gather some critical intelligence on the items you want to purchase which will save you time in the long run. If a deep freezer or 54-inch TV, for instance, are among your most sought-after possessions, the act of including them in a list would naturally see you do some research among the major players to understand which models are in vogue, current prices for the specific choices you desire and the likely discounts or bundles that will come with Black Friday.

Draw up a budget

This may sound easy but a lot of shoppers often miss out on this simple rule. It is important to develop a budget to guide your Black Friday shopping. Working with a pre-determined list of items and budget will ensure you do not fall into the trap of impulse buying which may see you end up with items you do not necessarily need, while missing out on the essential ones you require. This is not to rule out the occasional sweet deal or an irresistible bundled offer you may go out of your way to grab. Having a budget, however, undoubtedly gives you a focus which helps you get the best out of Black Friday.

Sign up to the Platform

Preparation will help you get the early and best deals; which is why it is important to sign up to newsletters and social media platforms to stay in the loop and get the latest news on the special offers for Black Friday. With this, you will get regular updates on all the exciting deals on desired products in the lead up and during the campaign.

Quality matters

Black Friday is often a time for a massive push from various e-commerce platforms all seeking to get a slice of the shopping pie. A number of grey or sub-standard products also find their way into the mix, especially from e-commerce outfits without a clear products sourcing channel or those who work with an infinite number of middlemen. To ensure your fingers do not get burnt, it is best to stick to a platform that offers you guaranteed genuine products and that is willing to stake its reputation on that.

Seeing and touching works better than just seeing

To get the best out of Black Friday, it is very important to get a chance to see, touch and experience the product(s) you wish to buy before parting with your hard-earned money. You can check out the items online and then visit the offline store to see it physically before completing the purchase process. This works better than just relying on the online version which may not be the same thing you get when delivered. Often it is best to shop with an e-commerce platform that offers you a chance to see, touch, experience the product and get useful feedback from staff on after-sales support and other issues rather than an impersonal online-only platform.

Self-fulfil, if possible

For many, Black Friday comes with sad tales of long delays, unfulfilled deliveries and canceled orders. To avoid falling a victim, it is best to shop from an e-commerce platform with a physical offline store where you can self-fulfil or choose to personally pick up your item. While others are lamenting the items they failed to get, you will be one of the few savvy shoppers smiling and wishing that Black Friday never ends.

 

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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E-Business

IBM Study Unveils Hidden Costs of Data Breach

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IBM Security has released a global study examining the full financial impact of a data breach on a company’s bottom line.

The study found that hidden costs in data breaches — e.g., lost business, negative impact on reputation and employee time spent on recovery — can be a huge factor. In a “mega breach” of 1 million or more records, one-third of the cost derived from lost business.

And the cost is on the rise; since the 2017 report, the average cost of a data breach globally has increased 6.4 percent, to $3.86 million, according to IBM. The number of mega breaches is also up — from nine in 2013 to 16 in 2017.

The study, sponsored by IBM and conducted by Ponemon Institute, also reveals that:

– Average cost of a data breach involving 1 million records is nearly $40 million.

– Estimated cost of a breach involving 50 million records is $350 million.

– Average time to detect and contain a mega breach (365 days) is 99 days longer than for a smaller-scale breach.

– In a mega breach, the greatest cost is from lost business, estimated at nearly $118 million for a breach of 50 million records.

A major factor in lost business cost is customer turnover — a recent IBM/Harris poll found that 75 percent of consumers in the U.S. say that they will not do business with companies that they do not trust to protect their data.

“The truth is there are many hidden expenses which must be taken into account, such as reputational damage, customer turnover, and operational costs,” said Wendi Whitmore, global lead for IBM X-Force incident response and intelligence services. “Knowing where the costs lie and how to reduce them can help companies invest their resources more strategically and lower the huge financial risks at stake.”

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Global Accelerex Trains Nigerian Security Agencies on Cyber Crime

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Global Accelerex Limited, a Central Bank of Nigeria-licenced Payment Terminal Service Provider and Payment Solution Service Provider, as part of its Corporate Social Responsibility Program, is set to train members of Nigeria’s Security Agencies on Cybercrime.

The event, which will hold on July 25, 2018 at Ladi Kwali Conference Center, Sheraton Hotel, Abuja, will enrich participants’ knowledge of the cyberspace and increase their versatility in dealing with on-line crime.

This collaboration, first of its kind in the e-payment industry, is borne out of the company’s desire to rid the nation of cyber criminals who continue to bring the country’s name into disrepute.

In addition to learning about cyber vulnerability, attendees will also learn about insider threats and sophisticated cyber adversaries.

The forum will host more than 30 participants including officials of the Nigerian Police, Nigerian Armed Forces, Economic and Financial Crimes Commission, Independent Corrupt Practices Commission, State Security Service, National Intelligence Agency and National Drug Law Enforcement Agency.

Others are Nigerian Security and Civil Defence Corps, Defence Intelligence Agency and Nigerian Custom Service.

“We applaud the effort of the Nigerian government in combating cybercrime and securing lives and property in the country. Global Accelerex is driven to compliment this effort to ensure that Nigeria is rid of these miscreants so that citizens can enjoy the cyberspace with the peace of mind they deserve.

It is absolutely critical that we support security operations so that Nigerians can use the internet freely, which is why this training is vital”, stated Stanley Peters, Chief Technology Officer of the company.

The National Security Adviser commends the initiative by Global Accelerex, saying that the move will definitely impact positively on the officers and the nation in general.

He added that continuous training is critical to stay ahead of criminals even as he revealed that attendees have shown a high level of enthusiasm at this unique opportunity.

Keynote speakers that will bring their experience to bear are Mr. Tahmeed Rab, Co-Founder and Managing Partner of Kaizen Solutions Group, Baltimore, USA and Mr. Peter Obadare, Co-Founder and Chief Operating Officer of Digital Encode.

Both experts are acclaimed for their ground-breaking achievements in cyber security, risk and compliance, mobile forensics, network and system consulting.

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Africa.com Acquires iAfrica

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Media holding company Africa.com has today announced its acquisition of Primedia and MTN-owned news portal, iAfrica.com. The terms of the agreement were not disclosed.

In a statement, Africa.com says the acquisition builds on the company’s strength in running the news Web site and the business publisher’s network, a group of nearly fifty business content publishers on the continent who have joined Africa.com to create a digital audience of over 15 million influential business people.

Africa.com chairman and CEO, Teresa Clarke, will serve as executive editor of iAfrica.

“The acquisition of iAfrica creates a next generation South African media platform with a global reach,” says Clarke. “By acquiring iAfrica, we are able to combine editorial, technology, and marketing resources, bringing the benefits of more original content and better site performance to readers of both iAfrica and Africa.com.”

Laura Joseph Africa.com’s MD, adds: “We are fusing a legendary African news portal with an innovative and dynamic management team under one umbrella. With combined resources, we will continue to make each site better and better.”

According to the statement, Africa.com has already started its re-branding of the iAfrica.com news portal.

“Africa.com is known for its creative content in the form of slideshows, videos, and infographics, and we will bring these content forms to iAfrica,” notes Debra Winter, COO of Africa.com.

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