E-commerce has grown to become a very lucrative industry, with billions of naira being generated annually through online sales. Unfortunately, not every e-commerce venture will end up being profitable. Many have even failed to survive beyond one year of business.
Hence, the impact of retail business globally cannot be overstated given its impact in driving any economy. Globally, retail trade accounts for 27 percent of the world’s Gross Domestic Product (GDP), employing 17 percent of global workforce.
With a population of over 170 million people, consumption pattern in excess of $100 billion annually and a fast emerging middle-class, Nigeria remains a promising market on the African continent.
While Nigeria’s retail sector has attracted over N250 billion in the last two years, it has emerged a major driver of economic growth, job creation and wealth generation, creating enormous opportunities for existing and new investors to take advantage of.
Interestingly, the nation’s electronic commerce (e-commerce) market is experiencing an emerging trend with online retail companies like Konga, Jumia, Adibba, DealDay, Buynow, Gloo, etc, expanding their business across Nigeria and battling for consumers’ attention.
The access to huge customer base, limitless boundaries and innovation to guide customer satisfaction have further led to the deepening of the Nigerian online business following the entry of MallforAfrica, a new player in the country’s burgeoning electronic payment industry.
The firm is making inroads into the e-commerce industry with a potential market value of $1 billion. MallforAfrica has launched a loyalty webcard that buys it all. Through the platform, a consumer can shop directly, when linked with the website, from more than 80 outlets and over 8.5 million items in the United States of America and Europe, especially in the UK, making it the largest and most secure online shopping mall built for Africa.
According to Tope Folayan, CEO, MallforAfrica, at a press briefing, in Lagos, to officially announce the debut and demonstrate to the press and general public how the website operates and what shoppers stand to gain using the platform.
This platform is a solution to shopping in major shops in the US and UK from the comfort of wherever you are, according to Folayan.
The basic retail reality of any shopper, according to Folayan, includes to satisfy needs; to express oneself; to get quality; get value for money; have variety to select from, and above all, to fulfil aspiration. This the shopper can get, when login unto http://activate.mallforafrica.com,from from more than 80 stores and over 8.5 million items in the US and UK, with delivery between 10 and 15 working days.
Even when you can’t find an item within the stores listed, the MallforAfrica CEO said “we realise there are other items you want that are of importance to you. With your MallforAfrica loyalty webcard, you can request custom item using our custom order form. Just login and click custom orders.”
To make payment seamless and secure, the platform is in partnership with InterSwitch and Verve, and for delivery it is in partnership with Red Star courier service, which does delivery of door-to-door service of item bought or the shopper goes to the nearest Red Star collection centre to get the item (this however depends on the option the shopper prefers). And items can be collected nationwide from all Red Star collection centres, without necessarily including your address.
However, on issue of warranty, in case of defect of item, MallforAfrica can either replace the item or refund the money, as warranty most often depends on the policy of the store an item is bought.
OSA VICTOR OBAYAGBONA & ANNE AGBAJE
