Findings by The Guardian showed that with about a decade into Nigeria’s e-commerce revolution, not fewer than 10 operators have either exited the space or completely divested their operations to other lines of business.
McKinsey and Company, a global consulting firm, which put the sector’s worth at $17 billion, predicted that online shopping could account for 10 per cent of aggregate retail sales, becoming a $75 billion industry in another five years. Further findings showed that more people in Nigeria preferred to shop via mobile devices than desktop computers. Online shoppers in Nigeria are majorly male folks. The shopping period is usually between11:00 a.m. and 4:00 p.m. daily, with Thursday as the day with the highest traffic, followed by Tuesday.
Highlighting the need for more institutional support, he said: “During the lockdown, we encountered some difficulties with making intra-state and inter-state deliveries because of the failure of the government to clearly delineate e-commerce as essential service providers. It was a lost opportunity to get more Nigerians into the e-commerce net.”
“Take, for instance, a particular Nike product that cost about N35,000. It was discovered that some people were counterfeiting it and selling it for as low as N10,000. Poor economy stirs up fake products,” he said. While announcing Jumia’s eighth year anniversary, Spalazzi said e-commerce is gradually playing a huge role in the economy. He said logistics and last mile delivery pose a challenge, “but we are bridging that gap.”
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