Micro, Small and Medium Scale Enterprises (MSMEs) and product consumers are leveraging the 2021 Lagos International Trade Fair (LITF) as a level ground for increased sales & visibility for businesses and cheaper promo purchases for consumers.
“This year looks better and we have large expectations, customers are trooping in and it is looking good already, although it will be better because more people will come in,” Omolara Atunwa, Chief executive Officer (CEO), WiseMart home appliances & technology limited said
She mentioned that in 2020, COVID-19 disrupted business activities and forced entrepreneurs to take tough decisions however things are better this year.
During and after the fair, we expect increased patronage, increased visibility, and more customers that will boost sales till the end of the year and even to the next trade fair,” she said.
Atunwa revealed that her company will seize the LITF opportunity to launch one of their new products and introduce it to the market.
The 35th edition of the LITF kicked off on Friday 5th November and already many small businesses were seen interacting with potential buyers, discussing partnerships with traders, distributors, exporters, and importers.
“This is an opening day, but our hopes are high, things seem a bit slow but by tomorrow more people will show up and sales will move faster” Sola Oyenusi, CEO, Blossom paste said.
Oyenusi who produces syrup, paste, and powder from commodities like date and ginger said she hoped to establish international partnerships and also get local distributors other than just making additional sales.
She also said that the trade fair presents an opportunity for new market entrants to establish relationships with clients, partners and also introduce their products and services to the public.
Read also: SMEs: Leveraging technology for better business performance
Big manufacturing firms are also not left out of the business opportunity as BusinessDay saw manufacturers like Dangote Group, Yaaii foods, and many others in their stands, discussing and negotiating with potential partners and customers.
Despite the sluggish economic growth and report income dip, shoppers are taking advantage of the opportunity provided by the Fair to buy different products such as household items, food items, cooking utensils, fabrics, jewelry, etc.
The annual event has also helps shoppers make early shopping at discount prices to avoid the yuletide rush.
Tomori Bello said she takes advantage of cheaper prices and various options to buy different things for herself and her family.
“Although things are a bit pricey this year, regardless I feel it is still a good buy when compared with the prices offered outside, also you see many new products that are not in the market yet,” she said.
25-year-old Funto Aiyegbusi is neither a business owner nor shopper but she purchased the N500 one-time entry ticket to serve as a marketer for businesses interested in her services, this for her is good business because she can work for any brand within the ten days. Other than the remuneration she also receives complimentary products and establishes relationships for future purposes.
The 2021 LITF which is the 35th edition themed ‘Connecting Businesses, Creating Value’ will host over 200,000 visitors and about 1,500 exhibitors from 16 countries over a ten day period in an exhibition space of 28,000 square meters.
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