Nigeria’s Ecommerce 2.0. When does it begin?

Nigeria’s Ecommerce 1.0 is done. Simply put. It ended with Nigeria’s economic recession.

The results are devastating. What else have they not experimented with? Oversized advertising to Drone delivery

Nobody won!

If we were to plot the regression curve with the data of every ecommerce player, you’ll find out they all fit very close to the curve. The only data point that will really differentiate them is how much dollars they’ve raised. Konga’s shockingly abysmal active users statistics proves that no one has a solid lead. At this point, Konga and Jumia have an advantage because they’ve positioned themselves for potential future growth.

The recession will have casualties

Assuming that there’s no surge in oil prices in the immediate future, by the time Nigeria’s economic woes turn back around, a lot of today’s ecommerce businesses would be dead. Killed not solely by the recession but also by the scale of their business.

They had first movers advantage and they messed it up. It’s like playing a game of chess and you get to start with white pieces. They had white!

Nigeria’s Ecommerce 2.0. When does it begin?

The ones that make it through the recession will have new players to contend with. Keep in mind, the field is still very much open for play. For God’s sake, Facebook has 16 million active Nigerian users. That’s the market.

Like what you read? Give Akinyemi Akindele a round of applause.

From a quick cheer to a standing ovation, clap to show how much you enjoyed this story.