RETAIL LOGISTICS AND DELIVERY: THE NEW CASH POINT

RETAIL LOGISTICS AND DELIVERY: THE NEW CASH POINT

Countries around the world are still counting their losses from the effect of the Covid19 pandemic on their economies. Businesses had no choice but to deal with months of lockdown in a bid to contain the spread of the deadly virus; this resulted in a massive loss of jobs and massive downsizing of staff strength by business owners.

The lockdown period was such that people around the world were confined to staying in their homes for months until governments around the world feel comfortable to partially or completely lift the stay at home directives based on the number of cases in their countries.

Despite the negative impact created by the pandemic across the globe, online retail businesses have witnessed positive growth. According to the U.S Department of Commerce data, consumers spent up to 30.1% more on online retail between January and June 2020 when compared to the same period in 2019.

The Nigerian online retail business space has also witnessed a sharp rise in the level of patronage. Most youths capitalized on business opportunities online by using their social media pages for digital marketing. Applications such as Facebook, Twitter, Instagram, and Whatsapp are now used by many as a medium to showcase their products. Despite the gradual decline in the number of Covid19 cases around the world and the hope that vaccines will be released by developed countries at some point, the continuous influx of new entrants into the online retail business seems to have come to stay. Job seekers continuously see this as a source of income while those already with jobs also see this as a means of additional income. Retail Stores will continue to experience a gradual decline in the level of patronage as consumers are now used to shopping from the comfort of their homes and getting products delivered to them.

Retail Logistics and Delivery Business

Irrespective of the medium used in e-commerce, is it online retail stores or sales using mobile apps, one thing that is sure is that they need the services of logistics business owners to get these products delivered to their customers in a timely manner. The massive influx of entrants into the online retail business has not witnessed a commensurate level of entrants into the logistics and delivery business in Nigeria. Kabir Shagaya (Dec 2019) opined via a publication in Business Day Newspaper that the biggest issues with modern retailing in Nigeria are logistics and finance. Jumia and Konga have had to build their own logistics networks (Jumia Logistics Services and KOS)  in order to bridge this gap. Intending business owners and investors are hereby encouraged to look at this is the new area as a cash point with huge potential.


Tunde David Animashaun

Babatundeee12@gmail.com

 

Comments

Post a Comment

Popular posts from this blog

Personality Clash and Toxic Work Environment: Managers Responsibilities

Image
TDA Individuals all across the globe necessitate fundamental necessities for their sustenance, clothing, shelter, social interaction, and medical care, amongst other things. Certain individuals, depending on the circumstances, may be required to provide for the aforementioned requirements of their dependents, including parents, spouses, children, and other relatives. Nevertheless, the capacity to fulfill these necessities is significantly influenced by financial resources. Consequently, employment is critical for human survival, as it requires the provision of services to an organization in exchange for remuneration in the form of wages or salaries. An assortment of individuals possessing distinct personalities submits employment applications to various organizations at different periods, while successful candidates are chosen and teams are formed. Workplaces present one peculiar obstacle, and that obstacle is personality conflict.  Personality conflict, as defined by Wikipedia, transp
Read more

Right Employee Attitude- Tips to help you remain relevant in your work place

Image
In recent times, different global challenges have had a massive impact on the ability of businesses to survive and meet up with their recurrent expenditures. In 2020, the covid-19 pandemic forced many countries into lockdown as many business organizations had to shut their doors due to the inability to access customers sufficient for operational sustainability. Customers' income level and cash flow dropped drastically as this had a consequential effect on their spending powers resulting in low sales turnover for businesses. Also, the UK's decision to exit the Brexit affected international trade relationships by causing a scarcity of imported products and services. Business owners are now in a situation where they consistently review their operations and expenditures. Branches are being closed down while employees are losing their jobs. Aljazeera News Publication suggests that 207 million people will possibly lose their jobs in 2022 despite the change in the unemployment rate fr
Read more

IDENTIFYING NIGERIA SMALL BUSINESSES WITH POTENTIAL

Image
O ftentimes the Professionals in Nigeria want to have an additional source of income because their salaries are not enough to cater to all their needs, they think of investing some of their funds in small businesses. Most times these businesses struggle and fail, leaving the investors in debt and financial instability. The reason for a large number of failing small businesses in Nigeria is that most people base the choice of their business on assumptions rather than identifying a problem or the need for a product or service and making sure their business is designed to meet such needs. Assumption  VS  Obvious Necessity Assumption   Investor A thinking:   There is no lovely boutique in this area where I can buy good quality footwear, I am sure there will be people who love good quality footwear. Decision: I need to open a boutique where people can buy quality footwear.     Obvious Necessity Investor B thinking: Every morning, there is a long queue in this area as people struggle to get
Read more