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How Mobile Devices Are Impacting eCommerce

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By Adeniyi Ogunfowoke,

In the earliest days of the internet, people had to do their shopping and transactions on desktops and laptops. Now, mobile phones have high market penetration in Nigeria that a large chunk of transactions is now performed on mobile devices: smartphones and tablets. This was what was discovered in the Jumia Mobile Report 2019 where 57% of Jumia customers visited the website via mobile web, 28% via the mobile app and 15% via the Desktop in 2018. Here are some of the ways mobile devices are impacting eCommerce.

Shop on-the-go

With mobile devices always in their purse or pocket, consumers increasingly use them to shop while they’re in motion. They can even begin shopping at home or at work with their PC, and then pick up where they left off when they head out the door on their mobile device.

Expanded opportunity

The biggest impact of mobile on e-commerce may be that it has dramatically expanded opportunity. Until smart-devices became prevalent, online purchases were constrained by location, you really only could shop while at a desktop/laptop computer that had an Internet connection. Today that’s all changed. Always-connected mobile devices allow you to shop from anywhere, and have fundamentally changed shopping behaviour.

Functionality

User experience and functionality are a crucial part of mobile commerce and in many ways the most simple to understand. Basically, your site must work well on a device for a sale to occur. That means both the small things and the big things must be done right. In particular, consumers expect that core e-commerce functions such as “add to cart” work smoothly and error free. This mobile-optimized functionality can make or break an e-commerce offering.

Geomarketing

Companies can push targeted ads to customers based on their location, such as encouraging them to take advantage of a flash sale. The GPS technology in mobile devices lets companies locate consumers when they approach their physical location and then send them special offers on the spot. Paying close attention to how consumers use mobile devices for ecommerce is essential for any company that is trying to boost mobile site engagement. You will see higher conversion rates when you make it easy for customers to learn about your company via their mobile devices and make connections with your sales team or customer service reps via Live Chat.

Reliability

Consumers expect the same mobile shopping experience wherever they go. They want the technology to work securely and safely, each and every time they make a purchase. If an e-commerce entity violates that trust (i.e. with slow page-load times, security warnings, etc.), it can translate to lost revenue. This is true on desktops as well but to a lesser extent. On a mobile device, both bandwidth and time are extremely precious, making reliability an absolute essential.

Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University.

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Gulder Unveils New TVC To Inspire Consumers

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L-R Media Manager NB Plc. Toheeb Azeez, Portfolio Manager, National Premium Brands NB Plc. Sarah Agha, Senior Brand Manager Gulder, NB Plc., Kolawole Akintimehin, and Brand Manager Support Gulder, NB Plc. Freya Doessel At The Unveil of Gulder’s New Brand Positioning – “Own Your Journey”
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National Premium lager, Gulder, has unveiled a new TVC to inspire, engage and encourage Nigerians to continue to own their journey. Known for its sleek golden brown bottle with the iconic helmet, Gulder is set to use this TVC to continue to urge Nigerians to celebrate the small wins on their quest for success.

 

With the aim of extending its market penetration by redefining the brand to its consumers, the new TVC is hinged on Gulder’s redefined positioning tagged “Own Your Journey”, which was launched in January this year.

 

The 60 seconds TVC features a young ambitious man who is striving to become successful in his career.

 

He is seen discouraged by family and friends but, despite the odds, he not only pushes through and achieves great success, but he celebrates the priceless moments along the way over cold bottles of Gulder.

 

Speaking on the launch of the TVC, Brand Manager, Gulder, Kolawole Akintimehin said; “We believe it is a really nice time to be talking about owning and celebrating every level in our personal journeys.

 

“As a brand, we want to help our consumers own and celebrate all the spheres of their endeavors.

 

“The new TVC embodies the type of message Gulder wants to engrave in the heart of every young Nigerian, and we hope to inspire and encourage as many people as possible.”

 

Gulder lager beer is renowned for being a staple for the, bold and courageous Nigerian. Celebrating the daring and brave spirit of Nigerians, whilst cheering them on to their quests for success.

 

 

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eCommerce As An Enabler for Small Businesses

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By Adeniyi Ogunfowoke,

The internet has changed the world in almost every possible way, and e-commerce has revolutionized how business is being done. However, many small businesses, even knowing this, still haven’t realized just how large a growth spurt they can see by selling their goods and services online.

For the past 6 years, Jumia has empowered and accelerated thousands of small businesses in 15 African countries by creating a platform that connects buyers and sellers. This has been a great achievement for the ‘Alibaba of Africa’. With these small businesses by vendors listing their products and services on Jumia, those who make N100,000 monthly are now guaranteed to make between N500,000 and 1 million within the same period. This is because Jumia supports these businesses with marketing, social media promotion and Search Engine Marketing.

Reach new customers and sell more products online

Selling on an eCommerce platform like Jumia can make a difference in your volume of sales. Many businesses with traditional brick and mortar retail shops are discovering this. There are also the advantages outside of merely extending your customer reach on your own. Through what is known as omnichannel selling, you can tap into an online marketplace like Jumia to expand your consumer base.

Expand further with affiliate programme

One advantage of having an online e-commerce setup is being able to track who and where orders come from. You can create an affiliate program for customers, retail partners and more to promote your products in exchange for a commission. Jumia has this already integrated,  allowing numerous marketers and bloggers to promote your products once listed. This method also works in perfect synergy with blogger outreach, which can grow your presence on social media as well. With many affiliate tracking tools, you can adjust the rate depending on the users. For instance, giving your customers a 5% commission, but 10% for more influential affiliates.

Help in cutting costs of doing business

Without a physical storefront, you won’t incur rental or management costs. Your only costs will be to take a good and quality picture and share them on the Jumia website while ensuring that you do not compromise quality. You can invest the money saved to other parts of the business.  As more and more people come to expect the convenience of shopping online for everything they spend money on, the businesses that cater to this mindset will thrive and flourish. E-commerce is a direct gateway to expanding and creating a more stable and cost-effective sales channel for your small business. You owe it to yourself and your business to explore which options can help take your small business to the next level.

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Will Nigeria’s economy gather momentum during the second half of 2019?

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By Lukman Otunuga, FXTM Research Analyst,

The news that Nigeria’s economy cooled down to 2.05 percent in the first quarter of 2019 compared to 2.38 percent in Q4’18 has left investors wondering about the chances of growth gathering momentum during the second half of the year. On the one hand, it’s an encouraging sign we’ve seen the fastest first-quarter growth since 2015, driven mainly by the non-oil sector which grew 2.47 percent. On the other hand, the Oil sector shrank by 2.4 percent, sending a worrying signal that the sector isn’t doing as well as it should be even amid rising Oil prices.

It is becoming increasingly clear that economic growth is unlikely to reach the ambitious Economic Recover and Growth Plan (ERGP) target of seven percent but it may hit the Central Bank of Nigeria’s target of 2.47 percent. For this to happen, the growth trend in the Oil sector would need to rebound and the services sector would need to sustain its current strength. Added momentum could stem from Oil prices should they hit a bullish streak going forward, supporting the economy as the Oil trade still accounts for a handsome chunk of the nation’s foreign exchange earnings.

There are other potential areas of growth. Regionally there is a significant development which could increase economic efficiencies and trade within Africa – the African Continental Free Trade Area (AfCFTA) which comes into effect on May 30. Although Nigeria hasn’t yet joined AfCFTA, there’s still a chance it will do so, once discussions are completed with stakeholders. In addition to opening intra-Africa trade relations, the AfCFTA gives multi-national companies the chance to set up in one African country and be passported to another 52 countries within a common market made up of over one billion people. Increased access to foreign expertise and investment could improve local manufacturing and processing systems while driving more growth and jobs creation. In the best-case scenario, standardised trading agreements across AfCFTA may open up trading channels which could lead to increased company sales, revenues and profits. Nigeria sells just 12.7 percent of its total exports to other African countries, so if the treaty is ratified there’s scope for increased government and company revenues from a boost in trade.

In general, there needs to be a stronger push in diversifying away from Oil reliance to other sources of sustainable growth. An important part of sustainable growth is investment sentiment and the current economic stability along with easing inflationary pressures which may lead to a more dovish Central Bank of Nigeria (CBN) monetary policy by way of interest rate cuts. If so, a reduction in interest rates would stimulate borrowing and investment from local businesses, which in turn would support economic growth. A more robust economy plus foreign exchange reserves rising towards $45 billion would likely provide ammunition for the CBN to defend the Naira.

Another factor impacting on Nigeria’s recovery is the external threat of the US-China trade negotiations which could end up pressuring Oil prices if the result is a global slowdown, meaning less demand for Oil. The USD is staying strong amid the trade tensions and should they intensify further, they will hit emerging markets where it hurts – in their currency exchanges. This would undermine the Naira while pressuring consumer spending and on top of that, falling Oil prices would likely dent government revenues.

Looking ahead, there is scope for Nigeria’s economy to gather momentum in the second half of the year, provided some key basics of growth are kept in focus: supportive monetary policy; keeping consumer spending healthy; sustaining investor confidence; and improving economic infrastructure, particularly in the Oil sector. Even if the risks stemming from US-China trade disputes are out of Nigeria’s hands, shoring up the domestic economy could help it weather any storms. The worst-case alternative is less attractive. If a global slowdown is triggered due to the trade tensions, economic growth in Nigeria may follow suit, meaning the CBN will face more difficult challenges to support the Naira and wider economy through monetary policy.

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