As this year’s Black Friday sales approach, e-commerce platforms such as Jiji, Jumia, and Konga have been identified as the lifeline that offers small businesses a unique opportunity to thrive and harness the opportunities offered by Black Friday.
Black Friday is arguably Nigeria’s biggest shopping season, where consumers hunt for unbeatable deals. E-commerce platforms offer small businesses a level playing field during Black Friday.
In recent years, Nigeria has witnessed a burgeoning e-commerce ecosystem with platforms like Jiji, Jumia, and Konga leading the way. This has not only changed the way people shop but has also created a thriving marketplace for small businesses.
“At Jiji, we’re dedicated to helping small businesses increase their sales and revenue, especially on special seasons like Black Friday. This is why we give them visibility to our vast audience of 12 million users, affordable Boost Packages to make up to 50 times more sales than they would, dedicated support managers, and educational resources,” Majolie Obaje, PR and Marketing Head at Jiji Nigeria said in an interview with journalists.
Obaje said that Jiji has also prepared special price discounts on all its Boost Packages to support small businesses this year’s Black Friday.
“Our commitment is to continually empower small business owners and sellers to not just survive but thrive, even in trying times like now. And we’re doing this for over 200,000 businesses and sellers on our platform,” she said.
As Nigeria’s e-commerce landscape continues to evolve, the role of small businesses in the national economy is expected to grow to 10.8 percent by 2027.
Meanwhile, Black Friday remains an annual reminder of the potential and impact that e-commerce can have on Nigeria’s small businesses.
According to the National Bureau of Statistics, SMEs contribute 48 percent of Nigeria’s GDP and employ over 84 percent of the workforce.
However, these businesses often face challenges in scaling up, particularly during major shopping events like Black Friday. This explains why SMEs need to take the opportunities offered by online marketplaces. These opportunities include:
It offers small businesses global reach that enables them to showcase their products and services to a nationwide, and in some cases, international audience.
Also, online marketplaces offer cost-effective promotion opportunities to SMEs. This is because traditional advertising can be expensive for small businesses, which is why e-commerce platforms provide affordable means of promoting Black Friday deals. Thereby allowing these sellers and business owners to channel more resources towards improving their products and services.
In addition, e-commerce platforms prioritise trust and security, which reassures buyers and facilitates more successful transactions. This is especially crucial for small businesses aiming to build credibility.