I’m keenly watching Amazon (2016 Market Cap: $471b; Revenue: $136b; Assets: $83b) and Walmart (Market Cap: $237b; Revenue: $486b; Assets: $199b). I’d like to see whose model wins the retail wars – online, in-store or a perfect blend of both.
Online shopping is convenient & habitual and focuses on near-limitless choice. In-store shopping is experiential.
As the returns process for each type of shopping becomes more seamless, it will give an edge to either model in Nigeria. I typically pay on delivery with Konga in Nigeria. Not because I can’t pay in advance or don’t trust their products. It’s because when the items arrive and I feel them or try them on, I can easily return those I don’t like, to the same delivery guy who brought them. I also keep my money, thus eliminating the need for a refund.
I think the shopping model that wins will be driven by culture. Today, the mobile phone has become an intrinsic component of communications culture and drives how we learn and interact. What will the culture of buying look like in 5 years and who will be responsible for driving the narrative?Who will be responsible for driving the next phase of #ecommerce culture in Nigeria? Click To Tweet