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Africa’s E-commerce Sales To Reach $50bn This Year

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Leadership Nigeria News Today

Africa’s e-commerce share which is currently worth more than $32 billion is estimated to reach $50 billion in 2018. In 2017, retail e-commerce sales worldwide reached $2.304 trillion, a 24.8 per cent increase over the previous year

According to a report conducted by Konga.com, made available to LEADERSHIP by Mr. Gideon Ayogu, corporate communications manager, Konga.com, this year, revenue in the global e-commerce market is expected to gross $18,850 trillion.

He stressed that if there was one thing Nigerians were united on, it was the preference for quality products and an abhorrence for fake, substandard ones.

“Despite a keen desire to extract the utmost value for money when making purchases, the average Nigerian will not hesitate to pay a higher price for a product with the guarantee of genuine quality. Widely considered a growing industry with the potential to outstrip even the most ambitious projections, e-commerce is a sector where the importance of authenticity or genuine products cannot be over-emphasized.

“The projection above means an increased opportunity for e-commerce players in Africa and especially Nigeria, Africa’s largest market, to leverage the expected higher revenue windfall by, not only meeting the demand for more products, but ensuring quality is not compromised – a seemingly tall order that can only be delivered by business owners with the practical intelligence, local knowledge, strict adherence to standards, nous and right mentality to build a brand that will outlive generations,” he added.

Ayogu maintained that the e-commerce developed by Konga emerged from the merger between Yudala and Konga after the latter’s acquisition by the Zinox Group.

“All the noise about best prices or refunds means nothing if you cannot offer me genuine products. What’s the point of a fake item when you can easily get a genuine product at the same price or at a slightly higher figure?

“In fact, I don’t mind paying a significantly higher cost for a product, device or gadget as long as I am assured it’s of the highest quality or procured directly from its manufacturer. Let’s just say I would rather Konga me than get a fake,” said Michael Aderibi, a software engineer.



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