Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,411 members, 7,954,629 topics. Date: Saturday, 21 September 2024 at 03:04 AM |
Nairaland Forum / Nairaland / General / Business / Is E-commerce Profitable And Sustainable In Nigeria? (8563 Views)
Is E-naira Dead? / Is E-naira Useful For Anything / Please How Much Is E-PIN For Recharge Card Business? (2) (3) (4)
Is E-commerce Profitable And Sustainable In Nigeria? by Nobody: 8:39pm On Sep 16, 2018 |
A friend wants to invest heavily in xx millions of naira but I told him to hold on and do some research on its profitability and sustainability because big Giants like olx, jumia and Konga recorded losses last year due to a couple of factors. So friends in the house, I need your input so my friend doesn't invest ignorantly. Is it wise engaging in e-commerce in Nigeria? What are the challenges and can it be overcome? Mods..lalasticlala please bring this to front page |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by Nobody: 8:43pm On Sep 16, 2018 |
Yes. What a man can conceive, a man can belief. And what a man can belief, a man can achieve. https://www.nairaland.com/4737147/leverage-profitable-online-offline-business |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by Nobody: 8:46pm On Sep 16, 2018 |
Alejoc:please let's know more on the onions challenges and solutions 3 Likes |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by polimaf(m): 9:12pm On Sep 16, 2018 |
Jumia, Konga, Olx spends heavy on advertisement, and have high operational cost. well, it will be wise if he can set up office in a less operational base like taxify and what Uber presently are doing now, he will enjoy the benefits. besides, what is he bringing in to change the game? is he following the bandwagon? if he is, then he should forget it 16 Likes 1 Share |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by Nobody: 9:17pm On Sep 16, 2018 |
But without advertisement, there won't be awareness... besides Uber and taxify also do advertisement too |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by Nobody: 9:18pm On Sep 16, 2018 |
polimaf:one needs advertisement to create awareness,, even Uber and taxify also do advertisement too 2 Likes |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by polimaf(m): 9:23pm On Sep 16, 2018 |
ikihealthplus:Uber and Taxify doesn't spend as much as Jumia does... according to an Insider, he told me Jumia spend $4M annually in Nigeria alone... 1 Like 1 Share |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by polimaf(m): 9:24pm On Sep 16, 2018 |
Besides, ecommerce is huge. which is he targeting? B2b, b2c, p2p classified... shared economy model? etc 1 Like 1 Share |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by Nobody: 9:36pm On Sep 16, 2018 |
Wilfredpat22:hmm,,, the tv own will be capital intensive |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by Nobody: 9:50pm On Sep 16, 2018 |
polimaf:b2c |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by polimaf(m): 10:22pm On Sep 16, 2018 |
ikihealthplus:He has a lot of competitors in that space but can still win if he can bring in a major disruption |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by Mynd44: 7:04am On Sep 17, 2018 |
Profitable? Yes. Sustainable? That is the headache 5 Likes |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by qanda: 7:05am On Sep 17, 2018 |
Sure |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by Onlinealaba(m): 7:05am On Sep 17, 2018 |
Advertisement is a key factor in E-commerce to promote his biz so he can't shy away from it. let him budget a reasonable amount of money for that. 1 Like |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by qanda: 7:06am On Sep 17, 2018 |
eCommerce is profitable and sustainable. However, there are alot of factors that needs to be in place to make a business successful. Some of these factors include: -Inventory -Pricing -Advertising/Marketing -Customer Care -Delivery/Logistics -Workforce What is your friend planning to do differently from the existing eCommerce platforms? What product(s) his he planning to offer? My advice: He should test the waters by selling on Social Media and existing eCommerce platforms (Jumia and Konga), depending on the results, he should go ahead or wait for the right time and put learnt lessons to use. He should also get more knowledge about entrepreneurship and business. He can get FREE business resources on Q and A App. Download Q and A App from Google Playstore 4 Likes
|
Re: Is E-commerce Profitable And Sustainable In Nigeria? by dotcomnamename: 7:06am On Sep 17, 2018 |
Mtchewwwwwww no for me... |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by yesloaded: 7:09am On Sep 17, 2018 |
ikihealthplus:its profitable but not wise to start big & compete with big players. |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by EXCELSMITH(m): 7:10am On Sep 17, 2018 |
My friend owns https://every247.com Mhen, that guy hasn't earn any shit since then, asked him and he said he made sales only seven times within the space of three years (3 years). No Ads Only Facebook, Instagram and Twitter Ads. |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by Alejoc(m): 7:11am On Sep 17, 2018 |
Where well |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by Pavore9: 7:13am On Sep 17, 2018 |
So much trust issues. 3 Likes |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by ednut1(m): 7:15am On Sep 17, 2018 |
Money down the drain loading. Many nigerians buy from aliexpress and other foreign sites. Not much diff u can provide |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by GrammarNazi1(m): 7:16am On Sep 17, 2018 |
polimaf:Uber and Taxify don't... 8 Likes 1 Share |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by ItzBIM(m): 7:17am On Sep 17, 2018 |
It should be, because of the market for it (population), however trust issues, payment method, (if only yahoo boys didn’t spoil PayPal for us) also fast delivery around the country not just lagos and finally education how many people outside the youth age range are computer literate. 1 Like 1 Share |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by frugal(m): 7:17am On Sep 17, 2018 |
Find a niche and execute like crazy. 7 Likes |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by kokomaster3d: 7:18am On Sep 17, 2018 |
My advice is start small. May be with a niche market. The biggest mistake of payporte was starting big and burning millions in advrrtisement forgetting the core aspect of their business. Now they are concentrating in fashion. Gain a sizeable number of loyal customers 4 Likes |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by kokomaster3d: 7:23am On Sep 17, 2018 |
ednut1: Guy chill Alibaba started after amazon, ebay and walmart and all these ecommerce are doing similar thing. There is nothing new under the sun. What matter is being innovative and how you serve your customers. 8 Likes 1 Share |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by IMASTEX: 7:24am On Sep 17, 2018 |
eworker: |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by id4sho(m): 7:24am On Sep 17, 2018 |
Tell him to invest in Ponzi, mavrodians i lie. shey na e-commerce. Awon bois |
Re: Is E-commerce Profitable And Sustainable In Nigeria? by ednut1(m): 7:26am On Sep 17, 2018 |
kokomaster3d:so wat innovative thing can u do in nigeria |
How Much To Open Ecobank Account In Nigeria / How I&E Forex Window Buoyed Naira Stability With $50bn Inflows / What Can I Do With 700,000
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 26 |