By Akin Adewakun | Lagos
THE increasing popularity of the social media might make it an obvious choice for business owners, desirous of pushing their products and services to their consumers in the new year, a new report, released by Jumia, has revealed.
While advising businesses on the need to take advantage of those platforms, the report identified the use of the social media for e-commerce as one of the trends that will gain momentum in the new year; since many businesses in Nigeria are already using platforms like Facebook and Instagram to sell their products.
“This trend is expected to increase in the coming year as social media is a powerful tool for reaching potential customers and building brand awareness. Businesses that take advantage of this trend will be well-positioned for success,” it stated.
According to the report, shoppers are no longer limited to a single device or channel as they research products, compare prices, complete sales, seamlessly, across channels, and flip between devices without losing their place in the purchase journey.
Quoting the National Communication Commission (NCC), the report revealed that 89 percent of internet users make purchases online, while another 24%, are planning to do so in the near future.
In order to take advantage of the development, e-commerce platforms, the report says, have put in place measure that will ensure that their channels are accessible, irrespective of the platform.
“This trend has led many e-commerce platforms, like Jumia, to ensure that their channels can be accessed regardless of the platform or channel. As a result, consumers can log in to their accounts through the app or website on any device of their choice. This ease of shopping is expected to contribute to an increase in online sales,” it stated.
One of the boost factors, the report added, is the nation’s economic policy, which, it argues, is gradually shifting towards cashless payment, with digital and electronic banking being implemented nationwide.
It also predicted that with the announcement of the new withdrawal limit by the Central Bank of Nigeria, more transactions are expected to be conducted electronically.
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