Online Shopping Statistics In Nigeria

The path of online shopping statistics  in Nigeria has been one that many have chosen to take over time. It involves buying and selling different kinds of products ranging from groceries to electronic, fashion accessories and shoes. Nevertheless it's growth has and seemed to not be stopped by any other shopping method. Most recently, the increase in the technological advancement of the country has prompted the increase in internet suffering. Individuals who soar through the internet looking for the easiest purchase to make.

Online shopping has also become an extremely  convenient approach for them and so leads to a tremendous increase in demand for more advanced platforms that can as well satisfy their demand.

In this article, we'd looking at the  latest online shopping statistics in Nigeria in 2024, and discuss the trends, and recent changes going on within the industry.

E-Commerce in Nigeria: Latest Facts and Figures in 2024

According to the bureau of Statistics, the e-commerce market revenue in Nigeria is proposed to reach $12.8 billion at the end of  2024, thereby leading to the increase in the  compound annual growth rate (CAGR) from $5.6 billion in 2019 to 18.9% in 2024.  A growth rate which has been  been fueled by the increasing likeness for online shopping among Nigerian consumers.

Currently the e-commerce market in Nigeria is currently monopolized by a few major strategic players, with Jumia as the largest market share holder in the industry holding a share of about 34.4% as at 2021, likewise Konga holds a share of about  (15.2%) keeping it at 2nd place, Jiji with a share of about  (7.8%), and finally Slot with the lowest share of about (4.2%). However, the market is constantly experiencing change as individual preferences begin to dwindle with time and age,  smaller niche e-tailers are now gaining more ground by providing clear distinction and segmentation  of products or services to fit each consumer's preferences.

Each consumers preference surmount to a total number of about 48% for fashion and beauty,

24% for electronics and other appliances, 12% for food and beverage products purchased daily from different brands. The various products have proven to be the most searched products for Nigerian online shoppers, according to Jumia's Nigeria Mobile Trends Report 2023.

Factors Driving E-Commerce Growth in Nigeria

Some of the factors currently driving e-commerce growth in Nigeria include the following:

1. Internet and mobile accessibility: The rate at which internet and smartphone users actively make use of the internet has increased tremendously over time. A total of about 98 million Nigerians  make use of the internet daily with an average of about 92% having constant access to the internet via their mobile devices. This incident has become a driving force for online shoppers in Nigeria.

2. Increase in the income of both  middle-class and lower class citizens: As years go by, the cost of living, expense, and income have tripled as opposed to their usual number. Nigeria now experiences an increase in the population of the middle-class, with an estimated number of about 23% of the country's population. With a steady growth pattern which is  now categorized as  classified  middle-income earners as of 2022 (African Development Bank) signifying that the country has a substantial disposable income which can help in driving the demand of individuals across different e-commerce platforms.

3. Improved logistics and payment infrastructural patterns: The online shopping experience of Nigerian citizens has undergone intense  development as there has been significant improvement in  digital payment solutions of customers, utilizing  mobile wallets and other  online banking, to  facilitate seamless online transactions. Additionally, improvements in logistics and delivery networks, although still a challenge, have enhanced the overall online shopping experience.

4. Impact of COVID-19 pandemic on the shopping experience of individuals: Ever since the  pandemic, there has been a drastic change in the online shopping experience  of individuals in Nigeria. People sought for better and  safer means to purchase different goods and services. The pandemic further  led  to behavioral change in shoppers,  such that, since most persons were not allowed out of their homes, most transactions were done from home and delivered to their doorstep.  It can be noted that the e-commerce industry and online shopping witnessed an increase in the traffic and number of individuals further leading to an increased growth rate.

Future Trends and Innovations in Nigerian E-Commerce

As we progress into the world of digitalization and modernization, several trends and innovations are expected to shape the industry's future some of which:

1. Shopping apps and Mobile commerce: With the increase in the rate of  smartphone users, e-commerce merchants  are investing heavily in building a strong online presence while optimizing  their platforms to be compatible with mobile devices, thereby offering shoppers a user-friendly shopping experience through their apps, and further streamlining the checkout process to soothe both big and  smaller screens.

2. Influencer marketing and Social commerce:  In recent times, Social media platforms like Facebook, Instagram, Twitter, and WhatsApp have become very  powerful channels for e-commerce in Nigeria to thrive, helping both large and medium scales businesses showcase their products, and also interact with customers thereby building both trust and relevance within the industry and further facilitate seamless transactions. Influencer marketing is increasing its boundaries daily, as e-tailers now collaborate with other popular social media personalities in order to promote their products and services.

3. Omnichannel and experiential retail: E-commerce businesses in Nigeria now know the importance of omnichannel retail. They now provide better strategies to aid a better shopping experience for customers across multiple channels, from  online and offline operations,  to buy-online-pickup-in-store (BOPIS) options.

4. Sustainable and eco-friendly e-commerce: Nigerian consumers are now driven to become a lot  more mindful of the impact of e-commerce on the environment and world at large. These consumers do this by continuously driving the demand for sustainable practices ranging from eco-friendly packaging, to promoting sustainable product lines, and offsetting of carbon.

Some Digital Buyers in Nigeria 2024

According to projections by Some online websites focused on determining statistics or trends, the number of digital buyers in Nigeria is expected to reach about 38.8 million in 2024. This percentage is only a small part of the whole population and has been used to  represent a significant portion of the country's population driven by increasing internet, smartphone adoption, and the accessibility offered by the different online shopping platforms.

On the other hand, the digital buyer population in Nigeria is different from each other with a provision for separation of the, different age groups, genders, and locations from each other. Previous reports suggest that the younger consumers comprising the teenagers and other young adults, especially those in urban areas, become more likely to utilize this online shopping experience as a result of their familiarity with digital technologies.

E-commerce Spending in Nigeria

As  industries utilize these e-commerce platforms, a tremendous growth pattern would be discovered. The amount of online shoppers  continues to grow, and  the spending power of online shoppers skyrocket. But this isn't enough. According to the Nigerian Bureau of Statistics, online retail sales grew by 28.6% in 2020, and would not stop there. This growth rate would further show how the increasing popularity and acceptance of e-commerce among Nigerian consumers have heavily affected the economy.

While exact figures on average order value and size would vary across different e-commerce platforms and product categories, recent reports suggest that Nigerian online shoppers are spending more on each transaction. This trend can be as a result of several factors like  the growth rate of  middle-class citizens, who have begun to utilize online shopping methods more. It can also be as a result of the increase in trust  of individuals who perform most online transactions, and the comfort of having a wider product preference at their disposal.

Revenue per User of E-commerce

For the e-commerce industry in Nigeria to thrive, the average revenue per user (ARPU) would be important tools used in order to validate the value attributed to certain products and services by each customer. In the e-commerce market, the ARPU value differs as time progresses and across different regions, product categories, and customer segments.

The latest  industry reports, show that e-commerce merchants who target urban areas and higher-income segments  experience a higher rate in their ARPU as a result of their  disposable income and increased willingness to spend their money on online purchases. Similarly, other  product categories like electronics, fashion, and home appliances would also experience a higher  ARPU compared to other  lower-ticket items users.

It is however essential to take note that ARPU can be  influenced by various factors which end up affecting the growth of online shopping in 2024. Some of these factors may include,  pricing strategies, the degree of customer loyalty towards a brand fostered as a result of programs in which they run, and the overall shopping statistics influenced by e-commerce platforms. As we progress further into the digital economy, only businesses which can  optimize their offers to soothe the preference of different individuals  and provide exceptional value to customers will likely succeed in getting an increased ARPU.

Finally, it is important to note that the online shopping statistics in Nigeria would continue to rise above it's usual values and adapt to the ever changing world, optimizing it's  procedure to fit into every sector. Their pattern would be further driven by increasing digital adoption, changing consumer preferences, and innovative business models. Even as  the industry continues to grow and mature, progressively moving into the digital economy era, companies who run e-commerce brands would also learn to understand and follow in on emerging trends, making use of recent technological advancement materials like the artificial intelligence, as well as providing their customers with a personalized experience in order to well-positioned them in the market.

Getting rid of  or putting the right logistics infrastructure in place would help to ensure the sustainable growth of the Nigerian e-commerce industry and by doing so, we can foster collaboration among other businesses, and government agencies within the country.

By kingkentus

Digital Marketing For Nigerian E-commerce

Digital marketing means creating and sharing content through digital channels to promote brands, sell products or services, and engage with customers.

Digital marketing in Nigeria involves creating and sharing content through digital media channels to promote brands, sell products or services, and engage with customers. The evolution of digital marketing in Nigeria has been driven by the increasing number of internet users, the rise of social media, and the growth of e-commerce. Businesses in Nigeria can leverage various digital marketing channels to reach their target audiences, but they also face challenges such as the lack of infrastructure, limited access to finance, and a complex regulatory environment.

In Nigeria, digital marketing has grown a lot in recent years. Businesses use different digital channels to connect with their target audiences. This growth is due to more internet users, the rise of social media, and the growth of e-commerce. These factors help businesses reach and engage with their audiences more personally.

Digital marketing channels in Nigeria include social media, email marketing, search engine optimization (SEO), search engine marketing (SEM), content marketing, and mobile marketing. These channels give businesses various ways to connect with customers and grow.

Technology plays a big role in digital marketing. It helps businesses collect and analyze data to understand their customers better and create targeted marketing campaigns. However, there are challenges, such as poor infrastructure, limited access to finance, and complex regulations. Despite these challenges, the future of digital marketing in Nigeria is promising, and businesses that use digital marketing can gain many benefits.

Digital Marketing Channels

Digital marketing in Nigeria uses various channels to promote products and services online. These include social media marketing, search engine optimization, email marketing, and content marketing. Each channel has its own features, advantages, and disadvantages.

1. Social Media Marketing

Social media marketing uses platforms like Facebook, Twitter, Instagram, and LinkedIn to promote products and services. This is popular in Nigeria because many people use social media. It helps businesses reach a large audience, engage with customers, and build brand awareness. It is also cheaper than traditional advertising.

2. Search Engine Optimization

Search Engine Optimization (SEO) is about improving a website to rank higher in search engine results. This is important in Nigeria because it helps businesses get more online visibility and traffic. SEO includes on-page optimization, off-page optimization, and technical optimization. It requires understanding search engine algorithms and user behavior.

3. Email Marketing

Email marketing uses email to promote products and services. It is effective in Nigeria because it allows businesses to reach customers directly. It can be used for newsletters, promotional offers, and keeping customers engaged. A well-targeted email list and engaging content are essential for success.

4. Content Marketing

Content marketing creates and shares valuable content to attract and keep a target audience. This is popular in Nigeria as it helps businesses become thought leaders and build trust with customers. It includes blog posts, videos, infographics, and e-books. Understanding the target audience and their needs is crucial for effective content marketing.

Digital marketing channels are essential for businesses in Nigeria to reach their audience and promote their products and services online. Each channel has unique features and requires specific skills to be effective. Businesses should choose the channels that best fit their needs and goals.

Role of Technology in Digital Marketing

Technology has been very important in making online marketing grow in Nigeria. As more people use online marketing, technology has become crucial for digital marketers in Nigeria. Here, we'll talk about how technology helps in online marketing in Nigeria.

1. Marketing Automation

Marketing automation means using technology to automate repetitive marketing tasks like email marketing, social media posting, and lead generation. In Nigeria, digital marketers use automation tools to make their campaigns smoother and work better. By automating these tasks, they can spend more time on important things like creating content and analyzing data.

Marketing automation also lets digital marketers in Nigeria personalize their campaigns. With these tools, they can divide their audience into groups and send personalized messages to each group. This makes people more interested and more likely to buy.

2. Analytics and Data

Analytics and data are really important for online marketing in Nigeria. Digital marketers use tools to see how well their campaigns are doing and make decisions based on data. By looking at data, they can find trends, make their campaigns better, and get more out of their investment.

In Nigeria, digital marketers use tools like Google Analytics, SEMrush, and Ahrefs. These tools help them see things like website traffic, keyword rankings, and social media stats. By studying this data, they can see which channels are working best and make their campaigns even better.

So, technology has been a big part of making online marketing grow in Nigeria. Digital marketers use technology to automate tasks, make their campaigns more personal, and understand data. This helps them work better, get better results, and make more money.

Progression of Digital Marketing in Nigeria

• Early Stages and Growth

Digital marketing in Nigeria has grown a lot since it started. At first, it was mainly email marketing and banner ads. But with social media, better internet access, and more e-commerce, digital marketing has changed how businesses promote their products and services.

In the beginning, digital marketing wasn't widely accepted in Nigeria. But as social media platforms like Facebook, Twitter, Instagram, and LinkedIn became popular, online marketing became a key part of marketing in Nigeria. Now, businesses can reach their target audience more effectively and efficiently through online marketing.

• Current Trends

Digital marketing in Nigeria is growing. With more people using the internet, businesses are focusing on digital marketing to reach their audience. In 2018, Nigeria’s e-commerce revenue was $13 billion, and it is expected to grow by 25% annually. Nigeria’s digital advertising market is also expanding, with PWC predicting it will be worth $1.88 billion by the end of 2020.

One trend in online marketing in Nigeria is the use of mobile devices. With over 172 million mobile subscribers, mobile marketing is an effective way for businesses to reach their audience. Another trend is using social media influencers to promote products and services. Influencers significantly impact their followers' buying decisions, and businesses are partnering with them for promotion.

Mobile marketing in Nigeria has changed a lot over the years and continues to grow. With social media and e-commerce becoming more popular, businesses are focusing more on digital marketing to reach their audience. Mobile marketing and using social media influencers are some of the latest trends in digital marketing in Nigeria.

Privacy and Data Protection In Digital Marketing In Nigeria

Businesses need to focus on privacy and protecting data. The Nigerian Data Protection Regulation (NDPR) came out in 2019 to control how personal data is handled in Nigeria.

The NDPR says businesses have to ask people before they collect and use their personal data. Businesses also have to keep personal data safe and tell the National Information Technology Development Agency (NITDA) if there's a data breach.

Along with the NDPR, the Cybercrime (Prohibition, Prevention, etc.) Act from 2015 also deals with data protection and privacy. This Act makes things like cyberstalking and identity theft illegal. Businesses need to follow this Act to avoid getting into trouble with the law.

In general, businesses doing digital advertising in Nigeria need to know and follow the country’s rules to avoid legal problems.

Challenges in Digital Marketing In Nigeria

Digital marketing in Nigeria has a lot of possibilities, but there are also challenges. These challenges can make it hard for businesses to connect with their audience. Here, we'll talk about two big challenges in mobile marketing in Nigeria: Infrastructure Limits and Skill Gaps and Training.

• Skill Gaps and Training

Another big problem for online marketing in Nigeria is skill gaps and training. Many businesses here don't have the skills they need to use digital marketing well. This makes it hard for them to connect with their audience and can waste time and money on marketing that doesn't work.

To fix this, businesses in Nigeria need to train their employees better. This will make sure they have the skills they need to use digital marketing well and keep up in a world that's becoming more digital.

So, while digital marketing in Nigeria has a lot of possibilities, there are also challenges. By fixing these problems and training their employees, businesses here can connect with their audience better and grow in the digital age.

• Infrastructure Limitations

One big problem for digital marketing in Nigeria is the limited infrastructure. Even though the internet is growing fast in Nigeria, there are still many places where people can't get online reliably. This makes it hard for businesses to reach their audience, because a lot of potential customers might not be able to get online.

On top of that, there are problems with the quality of internet service in Nigeria. Slow speeds and internet outages happen a lot, which makes it hard for businesses to use digital marketing tools like social media and email.

Future of Digital Marketing in Nigeria

Predictions and Trends

As the world becomes more digital, so does marketing in Nigeria. The country has been using digital marketing more and more in recent years, with an expected value of $1.88 billion by the end of 2020. This growth will likely continue, and there are some trends and predictions emerging in the industry.

One big trend in online marketing in Nigeria is the move to mobile devices. With over 122.5 million internet users here, most people use mobiles to go online. Because of this, strategies like SMS marketing and advertising in mobile apps are becoming more popular.

Another trend is using social media for marketing. With 31.6 million social media users in Nigeria, platforms like Facebook, Twitter, and Instagram are important for digital marketers. Brands use social media to talk to their audience, make their brand known, and sell things.

Aside from mobile marketing and social media, there are other trends in mobile marketing in Nigeria, like:

• Personalized marketing: Marketers use the tons of data they have to make their marketing messages more personal for their audience.

• Influencer marketing: This is getting more and more popular in Nigeria. Brands team up with social media influencers to promote what they're selling.

• Video marketing: Videos are becoming a bigger part of digital marketing. Brands use them to tell stories and get their audience interested.

In general, digital marketing's future in Nigeria seems good. As more people go online and use mobiles, mobile marketing will be really important for businesses trying to connect with their audience. By keeping up with what's new and what's coming, businesses can do well in Nigeria's digital marketing world.

By kingkentus

10 Most Visited E-commerce Websites In Nigeria

The advent of technology has led to an increase in the  total number of e-commerce websites and the amount of individuals who often make use of the internet and  other smartphone technologies further leading to a shift to the positive side in consumer behavior towards the convenience of buying things online. Recently, data from the Nigerian Bureau of Statistics reveals that in 2020, e-commerce represented 3.8% of the country's GDP; this is a proof that the  sector has more opportunities open for growth than any other sector. With more Nigerians embracing advancements in technology, and retail, a new era has come for e-commerce platforms looking to meet different consumer preferences.

In this article, we’ll be looking at the e-commerce industry and consider the top 10 e-commerce websites that are standing out and creating waves across all sectors.

1. Jumia Nigeria

Jumia Nigeria, is an e-commerce company popularly known as "Africa's Amazon,". The company  is one of the country's leading e-commerce platforms concerned with simplifying customer experience and making purchase of goods a lot easier. Since its inception in 2012, the company has expanded its offerings to cover a different kind of products,  ranging from fashion to electronics and home appliances, in order to provide services in  different  African countries.

Jumia Nigeria is involved in the sales of  over 1 million different products and can be summarized in three words: convenience, variety, and competitive cost. The company has over 30 operational centers across the country and a vast logistics network. Their  delivery is top notch, which is one of the most significant barriers that most  e-commerce websites  in any area of the world have encountered.

2. AliExpress

AliExpress  is an e-commerce store which is a subsidiary of The Alibaba Group which was established to serve as an online retail service company with their office currently based in China. It focuses on a user-friendly shopping site where  Nigerians can purchase fashion, electronics, home décor, beauty goods, and other items at extremely low prices. The company’s international exchange process, cheap and  easy shipping process has made it a one stop shop for Nigerians who love to buy  things that are either unusual or difficult to get in local markets.

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3. Amazon

Amazon, is the world's largest online selling platform. The company entered into  the Nigerian market and is making its wave in the industry. Amazon specializes in the supply of a variety of products ranging from fashion, books and other accessories. While the company does not have a specific Nigeria website or drop off center, Nigerian customers are able to  access the worldwide Amazon platform and take advantage of its product offering, to purchase goods at limited cheap prices, and  a very quick and efficient delivery process.

Amazon allows Nigerian consumers who make use of  international payment methods or gift cards to purchase things that are not available on other e-commerce platforms. In addition, the company runs a Prime membership program, which is focused on providing a free and all expense paid shipping treat on all qualified purchases.

4. Konga

Konga is another e-commerce company which is making buying and selling a lot cheaper in the local market. The company was founded in 2012 and currently serves as one of Nigeria's outstanding e-commerce platforms which play  a major role in the local market. The company focuses on the bulging and selling of consumer electronics, fashion, home appliances, and groceries.

The  company has a "Konga Pay" digital wallet and its partnership with logistics providers like GIG Logistics, has helped it position itself well in the market. Konga is committed to providing a good online shopping experience for first time shoppers with an extensive product range and competitive pricing. .

5. Jiji

Jiji is a unique e-commerce platform which serves as a platform for classified ads marketplace. A market which connects  buyers and sellers across various product categories to do business. The company does not directly sell products but helps in facilitating transactions between individual buyers and sellers.

Jiji has over 8 million active listings which run across different categories like electronics, vehicles, real estate, and more. It has become a  marketplace for Nigerians who want  to buy or sell their goods online. They have a user-friendly interface on their platform, and provide free listing options, secure payment plans for individuals looking to make purchases.

6. Payporte

Payporte is one of the leading e-commerce  platforms in Nigeria which empower Nigerian business providers, with a comprehensive list of services. They help startup companies strategically plan and position their businesses online. Payporte provides different payment gateways options  and an online storefronts for logistics and marketing companies, who are either small or medium-scale enterprises (SMEs) within the country.

Payporte further helps in providing a stress-free and secure e-commerce experience for both businesses and customers, enabling Nigerian entrepreneurs to make good profits from their businesses. The company is  committed to creating new things  and helping their customers get the very best of their money worth positioning them as trusted partners for businesses who make daily use of  the power of online retail.

7. Kara

Kara is a renowned company which is currently based in Nigeria. -the company is known worldwide for the outstanding approach to retailing. They  combine their  online storefront with having physical retail locations. These different visibility platforms help them provide a better and more accessible omnichannel shopping experience which  functions as both  traditional and digital commerce.

Similarly, other Customers can browse and purchase products online and then choose to have them delivered or pick them up at any of the company’s physical stores. With this approach, they are able to deliver accurately to their customers without experiencing a glitch in communication or other factors.

8. Shopify

Shopify, is an e-commerce platform which is known  globally, for its tremendous contributions to the growth of the Nigerian market. The brand does this by empowering other  local entrepreneurs and businesses to establish their online presence in order for them to  reach a wider audience.

Shopify has a user-friendly interface, which is made up of features, characters, and secure payment gateways, which makes it easier for individuals to make purchases.  They assist other Nigerian e-commerce companies who are concerned with building and  managing  their online stores to control their resources and make good use of their opportunities. Nigerian entrepreneurs now make use of the  platform to sell everything from fashion and beauty products to handcrafted goods have inspired others to explore the world of e-commerce.

9. Komback 

Komback is a well-established classifieds platform that has successfully transitioned into the e-commerce space. With a strong presence in the country for many years now, Komback has become a go-to destination for Nigerians looking to buy or sell a wide range of products, from electronics and vehicles to real estate and household items.

The platform's user-friendly interface, free listing options, and secure payment methods have contributed to its popularity among Nigerian consumers. Komback’s extensive reach and localized approach have made it a trusted name in the Nigerian e-commerce landscape.

10. Slot

Slot is an e-commerce store in Nigerian, which focuses on a very unique and distinctive model from the rest of other platforms.  The company deals with the sale and purchase of mobile phones.

It focuses on the  convenience and affordability of gadgets, leveraging on the use of technology to streamline their product offer, such that their  as scheduled delivery slots and a user-friendly interface are quite relatable with their audience. At Slot, they are committed  to getting rid of the old  traditional retail model pattern of the market and make a modern day change to its manuscripts.

As the Nigerian e-commerce market continues to change, these top 10 e-commerce websites have been proven to be good at what they do connecting sellers with buyers, and producers with consumers.

Looking ahead, the future of e-commerce in Nigeria would be different if only more innovations are made to further foster the connection and limit the break in flow for both sales and purchase.

By kingkentus

Sustainable Marketing Practices: How Brands Can Drive Environmental And Social Change In Nigeria

In a world where the products you buy and the brands you support meet your needs and actively contribute to a better tomorrow, Sustainable marketing is one avenue to ensure continuous progress in the forward-thinking approach that empowers businesses to drive positive environmental and social change through their marketing efforts. It provides an 'eco-friendly pattern, 'which, in the context of sustainable marketing, refers to a systematic approach that minimizes environmental impact, promotes social responsibility, and ensures economic viability. This pattern allows developing brands to maintain relevance and income regardless of the current economic standard.

This article would, therefore, provide reasonable approaches to which brands, companies, and profit organizations can maintain a sustainable marketing approach while driving environmental and social change. For instance, we will explore how a local food processing company in Nigeria has successfully implemented sustainable packaging practices, reducing plastic waste by 50% and gaining a competitive edge in the market.

What is Sustainable Marketing?

Sustainable marketing is a strategy that goes beyond simply promoting products or services. It represents a holistic approach to business philosophy, incorporating environmental and social consciousness into every aspect of the company's marketing structure. Sustainable marketing involves continuously creating long-term value for all stakeholders—customers, employees, and communities.

What Makes a Marketing Strategy Sustainable in Nigeria?

A marketing strategy is sustainable when it lowers the economy's negative environmental and social impacts and contributes to creating a more equitable and ecologically balanced system where value in products, services, and income is highly prioritized. It involves transparency, ethical practices, and a genuine desire to make a positive environmental difference.

Sustainable marketing also requires a fundamental process of rethinking business models, supply chains, and consumer engagement strategies for different projects. This process aims to create a balanced structure that allows a business to retain its relevance over time.

The 4 "P'S" of Sustainable Marketing  in Nigeria 

Like traditional marketing revolves around the "4 PS" (product, price, place, and promotion), sustainable marketing also functions based on a framework. The sustainable marketing framework includes the following:

1. Sustainable Products: This form of sustainable marketing involves developing products and services that are environmentally friendly, ethically sourced, and meet high social responsibility standards.
2. Sustainable Pricing: Pricing involves implementing pricing strategies that account for the actual cost of environmental and social impacts, ensuring accessibility and affordability.
3. Sustainable Place: In obtaining a sustainable marketing strategy, a sustainable place is needed to optimize distribution channels and supply chains to minimize carbon footprints, reduce waste, and support local communities.
4. Sustainable Promotion: This marketing strategy involves crafting communications that educate consumers about a brand, promote sustainable lifestyles, and inspire positive change within a particular environment.

The Impact of Sustainable Marketing on Brand Equity and Consumer Perception in Nigeria 

In Nigeria, consumers are increasingly drawn to brands that create a climate-conscious environment. By embracing sustainable practices, companies can cultivate a positive brand image, build trust, and foster long-lasting customer relationships. The potential for enhanced brand equity and improved consumer perception is a promising outcome of sustainable marketing practices. When these consumers perceive that a brand is genuinely committed to environmental and social responsibility, it can help enhance brand equity and improve their loyalty to the brand.

Sustainable marketing practices can influence consumer perceptions and purchasing decisions, especially for younger generations. They are more likely to support brands that align with their values and demonstrate a commitment to creating a better world with equity and style. Communicating the brand's sustainability efforts can build a better environment that resonates with these consumers, differentiating it from competitors.

Challenges and Considerations in Sustainable Marketing  In Nigeria

While sustainable marketing has enormous benefits, it is not without its challenges. In the Nigerian context, these challenges may include limited access to sustainable resources, lack of awareness and understanding of sustainable marketing practices, and the need for significant investments in infrastructure and training. A comprehensive sustainable marketing strategy requires significant resources, expertise, and a long-term commitment.

One of Nigeria's primary challenges in the sustainable market is ensuring that sustainability efforts are genuine, not just greenwashing. Brands must be prepared to back up their sustainable marketing claims with tangible actions, transparent reporting, and a genuine commitment to sustainability. This is crucial for building trust and credibility with consumers. 

The Impact of Brands on the  Society and the Environment in Nigeria

The impact of brands on society in Nigeria is tremendous and continues to increase steadily as time progresses. Brands now significantly influence consumer behavior and societal norms. Hence, companies need to recognize the far-reaching impact of their marketing campaigns and products on their environment and communities. For instance, a brand that promotes sustainable farming practices can help reduce deforestation and improve food security in rural communities.

Over time, consumers purchase based on the influence they get from these brands. From the thinking process to the decision-making process every step of the way, brands have lots of opportunities to increase their sales and client relationships as far as they are willing to build optimistic impacts on consumers by selling the brand's unique value proposition such that consumers reasonable with the brands giving them more reason to purchase from them.

Sustainable marketing must also go hand-in-hand with responsible business practices, prioritizing fair labor practices, minimizing environmental footprints, and ethical sourcing.

Challenges and Opportunities for Brands

Implementing sustainable marketing strategies can be complex and requires an extensive understanding of energy consumption, waste management supply chains, and material sourcing.

Brands will likely face challenges balancing sustainability goals with cost considerations and consumer demand. However, these challenges can also serve as an opportunity for innovation, collaboration, and the development of new business models that provide long-term sustainability practices rather than promoting short-term gains.

Approaches for  Sustainable Marketing in Nigeria

To truly embrace sustainable marketing, these brands must adopt a holistic approach that shows every aspect of their company's operations and corporate culture.

Below are some strategies they should consider putting in place: 

• Set measurable sustainability goals: In this strategy, these brands must establish clear, quantifiable targets for reducing waste and other toxic chemicals that are harmful to individuals and plants in the environment. They should also define their objectives for supporting local communities, ensuring fair labor practices, and promoting diversity.
• Conduct thorough audits: This strategy involves assessing the environmental and social impacts of the brand's entire supply chain, from sourcing to manufacturing, distribution, and end-of-life product disposal.
• Collaborate with stakeholders: Brands and consumers must be able to interact closely with each other, suppliers, non-governmental organizations (NGOs), industry partners, and local communities to identify areas for improvement and collaborate to solve sustainable solutions.
• Empower sustainable choices: To obtain a valid sustainable marketing approach, it is essential to empower consumers' choices. Make it easy for consumers to make sustainable choices by offering eco-friendly product lines, sustainable packaging options, and incentives for responsible behavior.
• Build a transparent communication system: Finally, build a transparent communication system where your sustainability efforts, challenges, and progress are visible to the public so that no one doubts your authenticity. Use clear labeling and storytelling to educate your consumers about your products' environmental and social impacts.

 5 Sustainable Marketing Strategies

Some sustainable marketing strategies to foster brand influence include:

1. Eco-friendly product design: 

These designs should be incorporated into acquiring sustainable materials, energy-efficient processes, and recyclable/biodegradable components.

1. Cause-related marketing:

Ensure your brand's goals align with environmental or social causes, considering every option as you build this system. To support society and boost its results, donate a portion of the proceeds to relevant organizations and encourage consumer participation in sustainability initiatives.

1. Influencer marketing: 

You must collaborate with other established brands that share your goals to inspire change.

1. Green packaging:

To economize resources and manage waste,   reduce excess packaging, use recycled or compostable materials for production, and explore innovative solutions that yield more income.

1. Sustainable supply chain management: 

Finally, it is essential that brands partner with suppliers of good reputations to implement fair trade practices and optimize logistics, thereby reducing the production of toxic wastes that are harmful to the environment.

What Is The Future of  Sustainable Marketing

As consumer awareness and demand for sustainable practices continue to grow, the future of sustainable marketing will keep on increasing. Its increase and relevance would be felt in the following ways:

• Augmented reality experiences: 

Brands will explore augmented reality (AR) and virtual reality (VR) more to create a more educational and relatable experience with their consumers and showcase their sustainable lifestyles.

• Blockchain transparency:

Leveraging blockchain technology to create transparent and immutable records of supply chain data. Enabling consumers to trace the origin and journey of products. Ensuring ethical and sustainable sourcing.

• Regenerative marketing:

Regenerative marketing would now be utilized to actively restore and rebuild systems, which can help promote biodiversity and give back to the environment.

• Circular economy models:

Rather than the traditional linear approach of making, using, and disposing of used materials, companies would explore more circular business models that make use of the strategy of reuse, repair, and recycling,  thereby minimizing waste and maximizing resource efficiency.

In conclusion, sustainable marketing in Nigeria has proven to be the only solid path in which brands seeking to retain relevance can do that. Sustainable marketing is a journey that requires a fundamental change in the mindset of both the brands and their consumers, commitment to transparency, and willingness to adapt to change and innovate new products continuously. It is a holistic approach that integrates sustainability into every aspect of a brand's operations, from product design to sourcing to manufacturing, distribution, and consumer engagement.

By kingkentus

Nigeria E-commerce Trends 2024: What To Expect

The e-commerce industry in Nigeria has been experiencing an upward turn since the inception of the digital economy, fueled by increasing internet and smartphone penetration. According to Statistics, the e-commerce market revenue in Nigeria will increase to $12.8 billion by 2024, from $5.6 billion in 2019. As the Nigerian labour market becomes more digitally knowledgeable, e-commerce trends are continuously growing to meet the demands of the market and increase sales.

In this article, we will focus on understanding the Nigerian e-commerce industry and what to expect as the years go by.

Emerging E-Commerce Trends in Nigeria 2024

As the Nigerian e-commerce market continues to grow and mature, several trends will shape and change in the e-commerce industry.

Some of these trends would include:

• Mobile Shopping Surge in Nigeria

In 2024, Mobile shopping in Nigeria will experience some sort of rush hour as the country increases in the usage of smartphones, internet connectivity, and online buying. According to the Nigerian Communications Commission (NCC), there will be an increase in the number of active mobile subscriptions in the country with an estimated reach of about 140 million by 2025.

Nigerian e-tailers are actively investing in optimizing their platforms for mobile devices, running ads,  offering user-friendly shopping apps, and streamlining the checkout process for smaller screens. Mobile wallets and digital payment solutions integrated into these apps are further enhancing the convenience of e-commerce transactions.

• Social Commerce Explosion in Nigeria

Social media platforms have become powerful channels for e-commerce in Nigeria, and this trend is expected to increase in 2024. With over 33 million active social media users in the country, businesses are leveraging social selling to reach wider audiences, drive sales, and foster customer engagement.

Similarly, Influencer marketing would also gain traction, as Nigerian e-tailers collaborate with popular social media personalities to promote their products and services. Platforms like Facebook, Instagram, Twitter, and WhatsApp are becoming integral components of social commerce strategies, enabling businesses to showcase products, interact with customers, and make seamless transactions.

Conversion Rate Optimization for Nigerian E-tailers

As the competition in the Nigerian e-commerce market grows steadily, businesses are increasingly focusing on optimizing their websites and online stores for better conversion rates. Strategies like personalized product recommendations, abandoned cart reminders, and seamless checkout processes will be necessary for converting website visitors into paying customers.

By Leveraging data analytics and customer insights, Nigerian e-tailers would be implementing advanced personalization techniques to deliver a good shopping experience for their consumers, increasing the likelihood of conversions. Additionally, adopting emerging technologies like artificial intelligence (AI) and machine learning (ML) can further enhance conversion rate optimization efforts.

Sustainable E-commerce Gaining Traction in Nigeria

Environmentally conscious Nigerian consumers are becoming more mindful of the impact of e-commerce on the planet, driving the demand for sustainable practices. In response, e-tailers are adopting eco-friendly initiatives such as using biodegradable or recyclable packaging materials, implementing carbon offsetting programs, and promoting sustainable product lines.

According to a survey by Jumia, a higher percentage of Nigerian consumers have expressed a willingness to pay more for environmentally friendly products and services, and this trend is expected to gain more ground in 2024 as consumers prioritize sustainability and businesses.

Omnichannel Retail Strategy for Nigerian Businesses

Successful Nigerian e-commerce businesses are recognizing the importance of an omnichannel retail strategy. This is a strategy that provides a seamless shopping experience across multiple channels for the consumer. This includes integrating online and offline operations,offering services like buy-online-pickup-in-store, and leveraging data to create personalized experiences for customers.

By adopting an omnichannel approach, businesses can cater to different consumer preferences, build brand loyalty, and drive sales across various touchpoints.

As the e-commerce market in Nigeria continues to grow rapidly, businesses that stay ahead of these trends and adapt their strategies accordingly will be well-positioned to capture a significant share of the growing market opportunities.

Subscription E-commerce Models in Nigeria

Subscription-based e-commerce models, which offer recurring product or service deliveries, would gain significant attention in Nigeria's online retail. These models not only provide convenience for customers but also help e-tailers retain loyal customers and generate predictable revenue streams.

The appeal of subscription models lies in their ability to offer a curated and personalized experience, coupled with the convenience of automatic schedules for deliveries.

Nigerian E-commerce Market Potential and Challenges

According to a report by Jumia, the subscription e-commerce market in Nigeria is expected to grow at a steady rate of 21.5% between 2020 and 2025, driven by rising consumer demand for convenience, personalization, and the desire for hassle-free replenishment of essential products.

However, challenges such as logistics and delivery infrastructure, payment gateway integration, and building consumer trust in recurring billing models have to be addressed for subscription e-commerce to reach its full potential in Nigeria.

As the e-commerce market continues to evolve, businesses that successfully navigate these challenges and offer compelling subscription-based models tailored to Nigerian consumers' needs and preferences are poised to capture a significant share of this growing market segment.

Nigeria E-commerce Market Analysis For 2024

The Nigerian e-commerce market is filled by a few major players, with Jumia and Konga as the leading marketing platform. According to a report by Statista, Jumia held the largest market share of 34.4% in the Nigerian e-commerce market in 2021, followed by Konga with 15.2%. Other notable players include Jiji (7.8%), Slot (4.2%), and Payporte (3.6%).

However, the market is constantly changing, and smaller niche e-tailers are also gaining ground, catering to specific consumer needs or product categories. For instance, Dangote industries, a cement production company, has carved out a niche for itself in the cement product industry and taken it a step further as they progressed into the refining of crude oil to produce petrol and gas.

Market Size and Growth Projections

The Nigerian e-commerce market revenue is expected to reach $12.8 billion by 2024, according to Statista, growing at a compound annual growth rate (CAGR) of 18.9% from $5.6 billion in 2019. This growth is fueled by increasing internet and smartphone penetration, rising disposable incomes, and the evolving consumer preference for online shopping convenience.

The COVID-19 pandemic has speed up  the adoption of e-commerce in Nigeria, with online retail sales growing by 28.6% in 2020, according to the Nigerian Bureau of Statistics. This trend is also expected to continue, with the e-commerce market's contribution to the country's GDP projected to reach 6% by 2025, up from 3.8% in 2020 (Jumia  Nigerian Mobile Trends Report 2021).

Growth Drivers and Challenges

Several key factors are driving the rapid growth of the e-commerce market in Nigeria, building it towards becoming one of the largest in Africa by 2024.

Some of these factors include:

1. Rising Internet and Smartphone Penetration: The Internet and smartphones are one of the key factors that would influence and drive growth in Nigeria. According to the Communications Commission, internet subscriptions in the country reached over 150 million as of 2022, while smartphone usage is projected to reach 140 million by 2025 (GSMA Intelligence). This increased connectivity is fueling the adoption of online shopping among Nigerian consumers.
2. Expanding Middle-Class and Disposable Income: Nigeria's middle-class population will grow, with an estimated 23% of the country's population being classified as middle-income earners as of 2022 (African Development Bank). This factor would have a substantial disposable income, driving demand for e-commerce platforms that offer convenience and access to a wider range of products.
3. Improved Digital Payment Infrastructure: The development of digital payment solutions, such as mobile wallets, online banking, and fintech platforms, has made online transactions more accessible and secure for Nigerian consumers further boosting their confidence in e-commerce and facilitating seamless online purchases.
4. Logistics and Delivery Improvements: While still a challenge, the logistics and delivery infrastructure in Nigeria has been improving, with more e-commerce players investing in last-mile delivery networks, addressing one of the major pain points for online shoppers.

As the e-commerce industry continues to mature, addressing these challenges through collaborative efforts among businesses, government agencies, and other stakeholders will be important if we seek to have the full potential of the Nigerian e-commerce market in 2024 and beyond.

From leveraging mobile and social commerce to prioritizing sustainability and offering subscription models, Nigerian e-commerce have ample opportunities to redefine the online shopping experience for their customers.

By kingkentus

Branding In Marketing: The Roles Of Branding In Today's Digital Advancement In Nigeria

For a country with so many companies and industries, brand identity and branding have emerged as concerns for companies that want to stand out amidst the crowd. Their major focus has been on developing a successful marketing strategy, especially in Nigeria's rapidly evolving business environment.

Although there was so much about branding before the digital advancement of technology in Nigeria, recent trends have raised the bar high for any business to thrive in branding and excel at it. Branding goes beyond having a company logo, flier, or design unique to your brand. It involves the entire essence in which a company is built, from the identity of a business to shaping how customers perceive and connect with a brand.

The concept of branding has become increasingly demanding in Nigeria as businesses strive to differentiate themselves from competitors and establish a lasting presence in the minds of consumers. However, with the rapid growth of digital platforms and social media, branding has taken a newfound turn, empowering businesses to engage with consumers on a more personal and interactive level.

In this article, we'll examine branding and its role in marketing, clearly discussing the what's and why of branding in the digital advancement of businesses in Nigeria.

What is Branding?

Branding is the strategic process of creating a unique identity, personality, and image for a product, service, or company. It involves implementing all the elements that distinguish a brand from its competitors, including its name, logo, color scheme, messaging, and overall customer experience.

As we advance into the digital space, where AI has taken over the advanced worlds, branding has become necessary for any brand that wishes to survive the wave of technological advancement in Nigeria.  As consumers are bombarded with countless choices, options, and information, a strong brand identity would help them scheme the marketplace and establish a connection with businesses that align with their values, goals, and preferences.

Why is Branding Important in Nigeria?

A  well-executed brand strategy has many benefits for Nigerian businesses. A strong brand can serve as a powerful competitive advantage, helping companies differentiate themselves and their pricing and attract a wide range of clients, who can then be converted into loyal customers. If these brands can deliver on their brand promise and build emotional connections, they can foster loyalty with their customers and turn them into brand advocates, providing a sense of security for the business's future.

A well-established brand with a good reputation and strong customer loyalty can help build a company's brand equity and long-term profitability. Additionally, brand identity can facilitate expansion into new markets and product lines, leveraging existing brand equity and customer trust.

Branding can also help capture consumer attention and drive brand recognition. Effective branding strategies ensure consistent messaging, visual identities, and tonality across all advertising channels, reinforcing brand awareness and recall.

Branding as a marketing tool in Nigeria

Branding is not just a visual identity but a powerful marketing tool that can significantly influence consumer perceptions, purchasing decisions, and long-term loyalty. By leveraging branding, businesses can strategically position their products or services in the market, influencing how consumers perceive and choose among the available options.

By integrating branding into their overall marketing strategies, companies in Nigeria can create a brand in which people can have experiences that resonate and drive business success. This brand can use branding to communicate its unique value proposition, build emotional connections with target audiences, and establish a valid brand authority.

Why is brand development important for business owners in Nigeria?

Brand development is important for business owners in Nigeria because it helps businesses establish a strong online and offline presence and differentiates them from other companies. It fosters credibility and professionalism between the company and its client, instilling trust in potential customers. A well-designed and structured brand identity, which has a logo, color scheme, and consistent messaging, can help lift a business's standard and help it stand out.

Branding would help a brand increase its visibility, build loyalty, foster long-term growth, establish a competitive edge, and succeed, thereby enabling Nigerian businesses to communicate their unique value proposition and reach their target audiences more effectively.

Critical Elements of a Strong Brand in Nigeria

Major elements businesses in Nigeria use to build a strong brand include Brand identity.

Brand identity (logo, colors, typography, etc.) for Nigerian brands  

A brand's identity can be described as a visual representation of a company's values, personality, and positioning. This can differ amongst various industries within the sector, as no two companies can function with the same identity.

For Nigerian brands, some of the critical elements of a strong brand identity can include

• A well-crafted logo is a collective symbol of the brand's entirety, from memorable issues to the brand's success. It is distinct, reflective of the brand's essence, and ensures brand recognition.
• The strategic use of colors, which can evoke specific emotions and reinforce a brand's personality, is also essential.
• Finally, Consistent and purposeful typography choices can help brands gain recognition, legibility, and overall visual appeal. In contrast, compelling visuals, such as brand photography, illustrations, and iconography, can reinforce brand messaging and contribute to a cohesive brand experience.

Brand personality and values for Nigerian brands

A brand's personality and values define its unique character and purpose, shaping how customers perceive and connect with it. For Nigerian businesses, developing a clear brand personality and value system is crucial. Aligning the brand's personality and values with those of its target audience fosters emotional connections, cultivating brand loyalty.

Having a defined brand personality serves as a guide for effective communication and further ensures consistency across the brand's different arms. It also helps attract the right customers to your brand—people who really need your expertise.

Furthermore, having a distinct brand personality and value system helps your business stand out in a crowded market.

Consistent brand messaging and communication for Nigerian brands

Effective brand messaging and communication are essential for brands seeking to build a brand identity in the Nigerian labor market. By prioritizing brand messaging, they develop a clear and consistent brand voice across all communication channels, including advertising, social media, and customer interactions, thereby building brand recognition and trust.

It is important that these brands ensure they put maximum effort into marketing, from traditional advertising to digital campaigns. Promoting the brand's core messaging and identity is important for the brand to build a brand experience for its customers.

Some approaches to take are utilizing the art of storytelling and content creation to sell your brand identity to your audience while connecting with them more closely.

Benefits of a Strong Brand in Nigeria  

A strong brand identity can help any company in Nigeria build brand recognition and awareness among consumers. This awareness would further help consumers retain information about the brand, from its name to its logo and visual elements, making it a lot easier for customers to identify and remember a brand amongst various competitors.

This increased brand awareness can lead to more conversations and recommendations, expanding the brand's reach through conversations between various individuals. When consumers are familiar with a brand, they are more likely to consider it during the decision-making process for any purchase.

2. Building a strong brand can help differentiate your brand from other competitors by highlighting their unique value propositions and clearly showing and telling their own selling points to their target audiences. Strategic brand positioning enables businesses to occupy a unique space in the market, setting them apart from other competitors and appealing to a specific audience.
3. A strong brand helps businesses build customer loyalty and trust. Trust and loyalty are good attributes for long-term business success, and a strong brand can help breed these qualities among Nigerian customers. These businesses can build trust and credibility by consistently delivering on their brand promises and meeting customer expectations.
4. Building a solid brand helps create a competitive edge for the brand in the Nigerian market. It provides the business with a competitive edge where consumers are willing to pay higher prices since they already trust the brand they are by increasing the revenue and profitability of the business.
5. Finally, having a strong brand in Nigeria helps you improve customer loyalty and retention, which is a good basis for long-term business sustainability. By building emotional connections with customers through their brand values, personality, and experiences, businesses gain a deeper level of loyalty and reduce customer loss.

Why is a brand image so crucial in Nigeria?

A brand's image is important in Nigeria because it helps build the right perceptions, associations, and beliefs that help consumers hold a particular brand in high esteem. It also helps build customer trust and confidence, which further influences consumers' purchasing power and builds customer loyalty.

It also contributes to a brand's overall equity and reputation, which can give a genuine ground for increased pricing power and, in the long term, further enhance employee engagement and retention, as individuals often take pride in being associated with reputable and well-regarded brands.

Factors that contribute to a strong brand image in Nigeria

Building a positive brand image in Nigeria requires many factors and approaches, as every interaction with a brand helps to shape the overall brand image. Consumers in Nigeria often value brands committed to social and environmental responsibility, making corporate social responsibility (CSR) initiatives important when shaping a brand image.

Some of the significant factors constantly contributing to a strong brand image include:

• Defining your brand's purpose and values in Nigeria is one of the significant factors in building a solid brand image. The brand's purpose should be authentic and resonate with the company and its target audience, as this is the only way it can build credibility with its consumers. At the same time, the company's or brand's value should always align with the brand's vision, mission, and purpose. They must be ethical, professional, and reasoning with the target audience they seek to acquire. Nigerian businesses can establish a strong foundation for their brand identity, messaging, and overall strategy by clearly articulating their purpose and values.

• Developing a unique brand identity and personality would help these brands stand apart from other companies in the market. This would involve creating a distinctive visual identity, from having a memorable logo to a color palette, typography, and other design elements that reflect the brand's essence, tone of voice, messaging, and overall communication style.

• Another major factor is consistency in brand implementation. This means ensuring that the brand identity, messaging, and personality are consistently implemented across all touch points, including physical locations, digital platforms, advertising campaigns, product packaging, and customer service interactions. This consistency would help build trust and credibility between the brand and its consumers.

• Finally, it is important that brands engage with customers, as this would help build brand communities through interactive channels and social media and encourage customer participation.  In community dialogues, brands gain insight into their audience's preferences, enlisting their concerns and aspirations, thereby creating more room for growth and improvement.

Overall, the power of branding in marketing, even in this digital world, cannot be overemphasized, especially at this time when the Nigerian market is shifting from what it used to be to a more competitive environment.

For a business to thrive now, you would requires more than just head knowledge. It reaches down to defining your brand's purpose and values, developing a unique identity and personality, implementing consistent messaging and communication, and engaging with customers to build brand communities.

By kingkentus

The Role Of Emotion In Consumer Decision Making In Nigeria.

Making decisions about purchases is a standard part of everyday life in Nigeria. While it may seem simple, the process is quite complex, as emotions play a significant role in shaping our choices, even for seemingly rational decisions. This article will cover emotions' profound influence on consumer decision making and behaviour in the Nigerian market.

This article will cover the many ways feelings and emotions help shape the decisions we make in our daily lives, from the underlying role of emotions to emotional intelligence and consumer psychology.

What is the role of emotions in consumer decision-making in Nigeria?

To better understand the role of emotions in consumer decision-making in Nigeria, Let's begin by looking at what the word emotions means.

Emotions are unique to humans and are often associated with objects and other things of value. As a result, different persons or individuals respond to the issue of emotions differently, each with his own personal attachment.

The responses we often get from different shows of emotions are often used to measure the standard of human worth, moral judgement, and sensitivity at different levels. The result of this is further used to influence the production of different products and services in the market and the continuous availability of these products in the Nigerian market.

Just as individuals' preferences vary, so does the business landscape. Making definitive decisions in these organisations can be complex, as businesses thrive by making sound decisions based on people's emotional states. The emotional capacity of a business's customers directly influences its financial success or failure, underscoring the importance of emotional intelligence in business strategy.

Decision makers who feel less concerned about their consumers or clients seem to lose a lot of customers when the wave of emotion trolls in.

There are different kinds of emotions related to man. All these emotions have different responses and attitudes associated with individuals, such as anger, joy, pain, and love. For example, when a person is angry or sorrowful, it can lead to poor decisions and a higher risk rate. This is because, in their present state, what society feels is not necessary to them. They'd choose to do whatever they can to be happy, but that often leads them to make more bad choices.

Although we do not neglect the fact that anger or sorrow can be a benchmark used in evaluating an individual or society, especially when you're getting more negative, you can use the opinion of that individual to judge his preference  since  that individual is a lot more sincere about certain things than he usually would.

Sometimes, these negativities and attitudes can also help an individual make a good decision since, as we said, the individual is, to some extent, more sincere to himself than he would be on a typical day.

In other cases, mood and decisions work in a rotating format. One time, you're happy; the next, you're so sad that you don't know why. Well, that's just how human emotions and feelings work. You do not know when or why something happened.  One good is the choices you make in the presence of two bad or good products. In these scenarios, you'd wonder what bad or good options best soothe you.

At that point, it's not about whether the products are wrong but which can be most valuable even in its imperfect state. Human emotions just tend to adapt or shift preferences due to time and environment.

How do emotions influence consumer behaviour and the decision-making process in Nigeria?

When it comes to consumer behaviour and decision-making in Nigeria, emotions are not just important, they are pivotal in shaping consumers' mindsets and perspectives about a particular product and brand. Emotions impact the decision-making process of different people at different levels, driving them to sometimes make either conscious or unconscious choices. This understanding can significantly inform marketing strategies and consumer engagement, making it a crucial aspect for businesses to consider.

These conscious choices would further lead to either a positive or negative buying choice dependent on the individual's current emotional state, while unconscious choices can be made by the individual.

Positive vs Negative Emotions 

Positive or negative responses to emotion all affect an individual's buying behaviour. Positive emotions lead to a more ethical buying habit, while negative responses to emotions act as a complement to positive emotions. In that, we mean to say that for an individual responding to emotions in the harmful, purchasing products is often based on complementary buying. A good example is shopping for things you don't need.

Understanding how your consumers respond to their different emotional changes would help you know how to meet their required needs. From creating a more effective marketing strategy to customer satisfaction and building long-term producer and client relationships, knowing your customers' emotions would help producers increase the gain rate and customer loyalty since they build their strategy around their customers' choices, letting these customers know that they do only make products. Still, they're also interested in the customers well being.

Producers and marketers in Nigeria can always bank on the emotional study they carried out to tailor their production, promotions, or advertising schedules to meet consumer preferences and ensure they didn't flop.

Does emotion trigger impulsive buying?

Yes, emotions trigger impulsive buying in Nigeria. A recent study on how people make purchases within the country shows that individuals are in the habit of purchasing based on feelings or emotions.  A vivid example is choosing to buy Ice cream on days when you feel sad. People often feel that getting ice cream on those sad days has a way of cheering them up; for some, it works.

When bored, stressed, angered,  in a good mood, or even a little excited about certain things, these emotions trigger an individual to buy things they know they don't need just in the spur of the moment to satisfy their emotions. It's like seeing a lady going luxury shopping just because she's in a good mood. Guess what? She'd buy both things she doesn't need just because she's happy. This same thing can also happen to any other individual. Just being in the spur of the moment alone makes you do things you'd not do on a typical day.

In the same way, when you're not feeling in a vital state, you tend to find more ways to be energetic. It's like hitting the gym not because you want to but because you're being told by a good friend that you're either too skinny or a little obese.

These various emotions just have a way of working into the mindset of an individual and triggering impulsive buying.

What is Emotional Appeal, and How Does Emotional Appeal Affect Consumer Buying Behaviour?

Emotional appeal in Nigeria is the process by which producers create products that attract the attention of consumers, influence brand visibility and buying behaviour, and further help the individual make purchases based on the fact that the product appeals to his emotions.

This has a significant influence on the purchasing behaviour of consumers in Nigeria, and since most marketers know this, it's been used as an essential tool in running ads online. Ads with this mindset always make or convert more of their online audience into customers.

These emotional appeals, such as love, happiness, and others, help propel consumers to make choices based on their current opinion of you, thereby increasing your chances of making sales. They attract clients to your business, propel purchase intention, influence the brand's attitude, and help consumers have better buying behaviour.

Emotional appeals work well in the automobile industry, as this industry thrives on both aesthetics and physical nature. The consumer's emotion plays a major role in brand selection, and by selling features, class, and style to the consumer, he feels assured that he's getting his money's worth.

What is emotional intelligence?

Emotional intelligence is defined as the ability of an individual to identify and channel one's own emotions and the emotions of others into decision-making and problem-solving processes. Those who possess higher emotional intelligence rates display much lower levels of impulse drive by both positive and negative emotions.

The higher EI individual knows how to make more rational decisions that can benefit him and influence his financial decisions, which further impact his financial well-being. The emotions of these emotionally intelligent people make their decisions to solve a particular problem.

How emotional intelligence helps in decision making in Nigeria

In making valid decisions, it is essential to recognise, understand and manage your emotions rightly. This is because when it comes to decision-making, Emotionally intelligent people often develop skills that help them see through their emotions and do what they need to, regardless of how they feel.

As a result of these skills, individuals can make their emotions work in their favour instead of against them, which decreases their ability to let their emotions rule over their decision-making process and purchase rate.

Emotional intelligence in Nigeria can further help these individuals live above their emotions by creating a barrier that always keeps them in Check. Some of these barriers can come in the form of strict self-awareness of your own emotions and weaknesses and how they can affect your total well-being, social awareness of your environment and feelings, self-regulating thoughts and actions in the bid to gain total control, and then building valuable skills to withstand the pressure being put in place by our emotions.

What is a consideration set, and what role does the consideration set play in consumer decision-making?

A consideration set is a group of products or services that a buyer has in mind to purchase but needs to evaluate before making a final decision on who to buy from. The consideration set can also be called the evoked or choice set.

The set size usually depends on the type and amount of products the Individual is considering and how difficult it would be to decide.

A good example is picking from a set of dishes in a restaurant you'd like to have. The menu includes many of your favourite dishes that you want to have but are currently on a budget. The consideration set for this particular purchase would include the number of dishes you prefer on a large scale for you to pick from. On the other hand, a consideration set for condiments would be pretty small since it would be a significant brand the consumer has used and is comfortable with. 

The consideration set helps to influence the buyer's journey, from what he needs to what product he wants to buy and what his final choice becomes. The buyer often has many options to pick from and little or no time to vet accurately, so they don't precisely evaluate all the products, only those they've used before. So instead of evaluating all the products, they tend to pick from a smaller lot of specified options, which have been reduced into a set more accommodating for him, specific and relevant to his needs.

Factors Influencing Consideration Set

Although the buyer's decision influences the final consideration set, several parts of a buyer's journey can be influenced:

• Brand awareness, marketing, strategy and positioning.
• Product and service packaging
• A clear and concise call to action
• Receiving a warm welcome and standout help from a salesperson.

As we've considered throughout this article, emotions play a vital role in the decision-making capacity of every individual in Nigeria. From the thought of purchase to what they want to purchase and its purchasing rate, individuals' emotions differ. Depending on the decision we choose to make, it is essential to remember that emotions provide more context information that helps us make more holistic and purpose-driven choices.

By understanding the issues pertaining to relations and their role, both the producer and the customer can make better-informed choices that align with their goals and priorities.

When it comes to consumer decisions specifically, recognising the emotional factors that shape our consideration sets is essential for marketers to truly understand their customer's needs and decision-making processes in Nigeria.

By kingkentus

The Role Of Online Classified Ads In Marketing

In an era where advertising and marketing have had a significant impact on businesses seeking growth, the mediums they use have broader roots beyond the boundaries of local ads to online platforms, paid search ads, and social media. Overtime,  this shift has benefited different businesses, leading to the advent of online classified ads, a form of traditional advertising.

Classified ads, often found in newspapers, allow people and growing businesses to promote their products, job openings, real estate listings, and services. They play a pivotal role in marketing and providing valuable resources for small-scale businesses and local communities trying to seek balance in the present economy.

From enticing customers who deal in used products to helping more employers find suitable and qualified candidates to fill specific job descriptions to assisting individuals in selling unwanted household properties, classified ads facilitate transactions and connections vital for local economies. They provide an accessible and targeted way for businesses to reach potential customers actively seeking specific goods or services.

This article will examine the relevance of classified ads in various categories and their impacts on local and thriving businesses. We'll also examine strategies for effectively utilizing classified ads and ensuring they reach the right audience at the right time.

What are Classified Ads? 

Classified ads are short, straight-to-the-point, and less complicated announcement methods companies and startups use to buy or sell their products and services. They are known to be low-cost and pretty easy to manipulate or work your way around. Classified ads help individuals and businesses reach a wide range of prospective clients and audiences and convert these prospective clients into customers.

Classified ads, a concept that originated in the late 1990s, have since gained popularity in the printing press. They have evolved to provide job listings and real estate opportunities, making it significantly easier for the public to access direct and consistent information on products or services within their area.

Over the years, these ads have moved from newspaper format to online, where they are easily accessible to the public. Due to the advent and progression of technology, sites like Pinterest and others allow these sellers to reach more buyers.

It's remarkable how classified ads have evolved with technological advancements, enhancing their effectiveness and relevance. They now incorporate visuals, photos, and search tools, revolutionizing the traditional methods of running classified ads in Nigeria.

Classified ads now use new technologies to make their work easier while retaining their core features, allowing advertisers always to dish out value. They can be classified as print or digital classified ads.

Why Do Advertisers Prefer Classified Ads?

Most advertisers prefer classified ads because they can provide a target relationship between local audiences and manufacturers, resulting in a more subsidized sale rate. This relationship also helps flatter effective marketing for businesses in different industries while making buying and selling products much more accessible, cost-effective, and efficient.

Advertisers prefer classified ads because they can connect buyers with sellers, they offer broad exposure to local businesses, they are low-cost compared to other display ads, and they offer simple and fast listing options.

Categorizing these ads helps to effectively differentiate the audience so that there's a segment for everything. From car dealerships to real estate to civil service recruitment, there's a segment for every kind of business, so it's easier for companies to get their products or services in the faces of prospective clients or buyers without leaving them confused and uninterested.

The presentation format helps advertisers provide necessary information about their products, from pricing to product descriptions and contact information. Every detail is placed for easy assessment.

Classifieds have adapted so well that niching down has become a constant. It's now quite straightforward to obtain information without stress or panic, thereby providing a more flexible approach to replicating modern-day buying and selling habits. Unlike its former methods, it's also easier to access Job opportunities.

How Do Online Classified Ads Enable Businesses to Thrive in The  Market Effectively?

Classified Ads enable businesses in Nigeria to thrive in the market effectively by niching down. Advertisers target their prospective clients through a selection process whose scope is quite broad, reaching several directories, such as the digital and print industries.

The ability of classified ads to narrow down is a significant advantage for businesses with a defined target audience and specialized products or services. For instance, a fashion house can target prospective clients who attend fashion shows by selling fashion magazines, indirectly showcasing their products. The niche target often expands when advertisers use multiple platforms to effectively advertise their products, demonstrating the versatility and effectiveness of classified ads in reaching the right audience.

Advantages of  Print Online Classified Ads Over Digital  Classified Ads

Print classified ads offer unique advantages over their digital Counterparts. They stand out due to their credibility, vast nature, and ability to capture audiences' attention while reading. Classified ads in newspapers and magazines have a specific audience they aim to reach, making them more targeted. They primarily target local buyers within the area or region who need their services, making the conversion process more intentional. Print classified ads can run for an extended period without creating doubts about the exposure of the advertised products.

Print ads also have the ability and opportunities to fix classified ads  for a full day or for a very long time online without creating fear or doubts in the hearts of the organizations that their products are not getting the right exposure.

Unlike print classified ads, Digital ads get quickly buried underneath the numerous posts or ads online due to the number of advertisements made daily by different organizations. There are no space limits per issue; therefore, advertisers may choose to ramble on and on without giving a clear, concise description of their product or service.

How Does Classified Advertising Fit Into the Modern World?

There are many ways in which classified ads can fit into the modern world, from allowing businesses and individuals to connect with a broader range of audiences, which would, shortly, become prospective clients, to having a low-cost and easy method of production.

One of the key advantages of classified ads is their affordability. They are significantly cheaper than other forms of advertising, making them a perfect fit for startup businesses. This accessibility empowers both buyers and sellers in the advertising market.

What are the best practices to avoid when creating classified ads? 

When creating classified ads, one of the most sought-after questions is: what are the best practices to avoid when creating ads? Well, this practice could include but is not limited to the following:

• Copying and pasting display ads
• Missing details and differences in details across different platforms and systems.
• Broad targeting of a large audience
• Ads Lacking buyer perspectives would lower your responses regarding each band being put out.
•  Viewing metrics from the wrong perspectives.

In summary, classified ads perform best when they are run with a genuine user preference, a good Hook, and a compelling call to action.

How Can Businesses Integrate Classified Advertising with Other Digital Marketing Strategies?

Growing businesses can integrate this method of classified ads with other digital marketing strategies by expanding this platform's visibility. These can feature legit company products at the top of the web page for visitors from other platforms to see as they click.

They can also promote their offers on websites, driving traffic from other sites to their own and increasing their audience. By using paid search ads, sellers can also use the prospects visiting their pages to generate more income for their businesses.

Some classified ads also support API integrations, product variations, and different pricing across different channels, thereby preventing the overselling of products or services and maintaining accuracy, making it much easier to incorporate digital marketing strategies.

How Classified Ads Impact Local Businesses

Classified ads impact local businesses just fine. Recently, Craigslist has dominated the online classified ads industry in most global markets, offering individuals a wide range of options. Through these affiliations and partnerships, Craigslist builds an online presence, providing a wider chain of command for different businesses.

Most recently, social platforms like Facebook and Instagram have increased their functionality rates. Completing with other platforms while creating more listing options, they provide instant listings and direct communication between buyers and sellers at a meagre cost.

While classified ads are delivered more frequently and efficiently, the listing provides a marketplace where digital tools enhance productivity. This enhanced productivity rate keeps classified advertising at its peak in modern classified ad marketing.

What Is The Future of Classified Ads in Newspapers

For the future of online classified ads in Nigeria, we might just see where the world goes. In summary, it might be a lot easier for everyone to navigate. We feel businesses would get to learn from all the feedback from users they interact with and build their innovation and remodels upon these ideas. This knowledge would help them deliver better and more timely classified ads, helping them detect more inappropriate activities and making it safer for users to try them.

Social platforms would develop existing ideas and expand their classified ads, creating many other slots for better competitors. Search engines' functionality rate will increase, thereby complementing other discoveries. More interactive digital tools and spaces will be integrated, broadening the horizons for more classified ads to come onboard.

Finally, machine learning would improve, helping companies, brands, and individuals refine the target audience and automate their responses. In all, classified ads will do well, adapting to future changes while maintaining authenticity and client-based connections.

By kingkentus