The Concept of Retail Businesses in Nigeria
That age long concept of the goal of business to maximize profit stands. This means that at the centre of the activities of any business, profit maximization and cost minimalization remains the high point particularly as businesses sell online in Nigeria.
So imagine selling to over 2 billion people online. don’t doubt it.
It is possible when you Sell more online in Nigeria. Let me show you how.
In recent years, there has been a surge in the business space in Nigeria with more investors coming into the market and more products regularly being introduced.
Why is this so? Nigeria is a country with a population of slightly over 200 million with an annual growth rate of 2.5% and this ranks the country as the 6th most populous nation on the earth and by far the most populous nation on the African continent.
Hence, Nigeria can be said statistically to be the country in Africa with the biggest market, we can call it a ready market for business owners.
With these statistics in mind, In the past two decades, there has been both an influx and a rise in telecommunications companies in the nation. This has naturally led to increased use of communication gadgets and internet services.
The telecommunication industry has seen about 150 million active subscribers to both communication and internet services. This shows a rapid increase in internet users in Nigeria.
An estimate of social media users in Nigeria
| Social Media Platform | Estimated Users [In Millions] |
| 26.1 | |
| Snapchat | 9.5 |
| 4.13 | |
| 3.6 |
Source: Statista, 2022
What The Online Retail Economy In Nigeria Looks Like
TechPoint Africa wrote that Nigeria is still Facebook’s biggest market in Africa with nearly
33 million active monthly users and 16 million active daily users.
There has been a considerable growth in the number of active internet users in Nigeria with most of these users directly involved in one social media app or at least two.
The statistics above exclude other fast-growing social media spaces such as WhatsApp, with its new feature, WhatsApp business.
As of the third quarter of 2020, WhatsApp was the most popular social media in Nigeria. The platform was mentioned by 93 percent of internet users aged 16 to 64 years. Facebook and YouTube followed, being used respectively by 86 percent and 82 percent of the individuals with access to the internet.
In 2020, the number of social media users in Nigeria reached roughly 28 million.
Sell more online in Nigeria
Now, for aspiring business owners that want to sell online in Nigeria online without leaving their houses, there are a lot of online platforms that allow you to sell your products online with ease.
That said, all you need is to do is to plugin your e-commerce store to Facebook or Instagram and then all your customers can find you online.
Generate qualified leads
In the bid to sell more, social media can be used to drive qualified traffic to your store or Landing Pages.
Social media posts and ads are effective ways to drive quality traffic to your website, landing pages, or eCommerce store. Selling online through your eCommerce store and social media are a good way to to qualify leads.
Many small business owners still result in selling on social media through DM and exchanging of account details in the case of payment. But we well know that people have got used to getting the answers straight away. We get annoyed easily if we have to wait. Just remember how angry people can get if they see a long queue in the supermarket. If they see it through the window, they can even decide against entering the shop. Our patience is in really bad shape nowadays.
Introducing YouShop
Way more than your ordinary POS. YouShop allows merchants to get real-time updates on orders and inventory on their business dashboard and sell online in Nigeria. In the market today, no other retail dashboard is as extensive as the YouShop ecosystem. YouShop helps you manage both your Online and In-store. You don’t need to get a separate management system for your In-store.
As illustrated above, many eyes are on social media. YouShop introduces an innovative technology that allows instant checkout from Instagram, Facebook, Whatsapp, and Google Ads. You need not be readily online to manually interact with the customer YouShop helps you with that.
Selling on social media is the new normal in many emerging markets. We are connecting Social Shop to Social Media platforms so that customers can simply click on a button or link to open a checkout page.
Social Shop makes the buyer journey a swift and seamless experience. Social media selling is next to e-commerce and is rampant in many emerging markets. The plugin shortens the buyer’s journey by leading them directly to the checkout page. Customers need not wait to get their desired product when you use youshop.