How Digital Transformation has Impacted Nigeria’s e-Commerce

The new world order heavily relies on the effects of digital transformation in making a huge impact across various industries. In fact, it has become the backbone of most transactions in recent times, and would also be the main pillar for other business innovations in the nearest future.

It is agreed, that the progression digital transformation in Nigeria has brought, has been quite impressive. It has aided the growth of several companies and it is still on the path to establishing the country as a giant among other economies in Africa. It is also worthy to note that way before the pandemic struck, works were in the pipeline in this regard, however, the emergence of the COVID 19 pandemic, only hastened the process by a multiplied fraction of its default speed. With that, we witnessed a swift adoption of the goodies digital transformation brought about.

This goes without saying that the e-Commerce sector in Nigeria has also been a beneficiary of this advancement and transformation, and this is only just the beginning. According to a report by Google and the International Finance Corporation (IFC), the internet economy has the potential to reach $180 billion by 2025, and by 2050, e-commerce is expected to add $712 billion to Africa’s economy. With these given figures it is safe to say that digital transformation has presented itself as a tool in dredging the gold mines of the e-Commerce sector in Nigeria.

There are several ways the transformation has manifested in Nigeria including;

Internet Connectivity: The number of internet users in Nigeria has increased in the past few years, giving a boost to the growth of e-Commerce in Nigeria. Nowadays customers can simply visit a website or a landing page to purchase items and have them delivered on demand with a click. This has also been further strengthened by the services provided by partner logistics providers such as Speedaf Express, making the method of purchase much easier and less cumbersome. The number is projected to increase in the coming years, revealing the inevitable dominance of digital transformations within the industry.

Social Media: The history of social media platforms began in 1997 with platforms like Six Degrees, and although short-lived, it was followed by networking sites like Friendster, before the grand introduction of the likes of Facebook and Instagram. The effect of this massive transformation over the years has also aided the growth of e-Commerce. These days, social media has also made it possible for e-merchants to get personal with customers, and in turn reel in more sales as a result of building trust and the concept of brand loyalty.

Automations: Automations have been placed in the more advanced section of the entire transformation cycle. In relation to e-commerce, it has come in handy in the form of processing payments and allowing for recurring transactions. This, in itself, has been a business saver, as it also guarantees the continuous patronage of customers based on financial commitments. There are other ways that this transformation has been helpful, for instance, the automated generation of a waybill number, when a request is being made for pick up on Speedaf Express’ website and platforms.

It is no gainsaying that the digitization of the e-Commerce industry in Nigeria has been more positive than otherwise, and with predictions like an 8.5 per cent addition to the continent’s GDP in the next few years, it is established that the future is only a matter of time.