The retail market’s contribution to the Nigerian economy is expanding significantly as e-commerce business to business platforms are bringing positive changes to the operation of this sector.
Available reports show that the retail market attracts huge patronage in Nigeria as the total revenues from the Nigerian food and grocery retail market in 2020 was $45.7bn, representing a compound annual growth rate of 5.8% between 2016 and 2020.
With technological advancement, many e-commerce B2B platforms’ apps offer micro business owners convenience in doing their businesses as they can order for goods and get the same delivered to their door steps instead of going through the stress of getting their stores locked up for hours while visiting the open market to restock. This, in turn, saves energy, time and money.
For retailers who are aligning with the modifications these B2B platforms provide, the experience is sure to be different and beneficial.
Alerzoshop, for instance, is an app that allows retailers on its platform to buy their products at competitive rates from sellers who display their goods and services on their online platform just the way they could in offline shops.
Retailers can order products via the internet, short messaging service (SMS), voice and WhatsApp and have such products delivered to their stores in a matter of hours.
These retailers, by doing so, also enjoy huge discounts and incentives; they also are able to get genuine goods which come from the manufacturers or approved suppliers directly.
Not only do retailers gain from Alerzoshop, distributors also leverage the opportunity to easily reach a wider spread of retailers by taking advantage of availability of retailers on the platform, the data and digital technology provided.
To boost business, e-commerce platforms also provide seamless online payment and lending platforms which provide informal retailers with working capital to keep their stores running and to drive financial inclusion.
The aspect of providing reliable and free logistical service of ordered goods to retailers, is another area where e-commerce platforms are helping micro business owners increase profit which in turn makes room for healthy business operation.