According to the national broadband policy 2013-2018, 80 per cent of the Nigerian population is projected to enjoy mobile broadband access and 20 per cent fixed line access. The CBN’s cashless policy began nationwide on July 1, last year.
Prior to the commencement of the policy in 2012, the sector recorded 1,000 orders per day, with market size standing at $35 million (N5.6 billion).
Today, on average, the leading online stores achieve about $2 million worth of transactions per week (approximately N1.5bn per month). Read more here
How to tap into this multibillion Naira industry in Nigeria
Create your own e-commerce website and target a segment of market to serve. Targeting a segment of market to service properly and effectively could be a ground breaking strategy.
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- Look for domain name that can be easy to remember
- Register the domain name
- Design a professional eCommerce website
- Look for importers and wholesalers you will sale their products or make it open for anyone.
- Take pictures of those products (employ a professional photographer)
- Upload them on the eCommerce website
- Make sure price is competitive
- Offer home delivery services
How do you get customers?
- Run Google ad
- SEO
- Email marketing
- Use social media marketing
- You can use classify ad
- Use public relation to build online reputation etc You may need this We Design A Responsive Website And SEO For Your Business
How much do you need for startup?
A professional E-commerce cost within 500 USD to 25000 USD depending on the company you contracted, some company can charge higher than the above amount if it’s a custom made eCommerce like Aliexpress.com jumia.com, Amazon.com etc some may even charge less. Mainly, the cost of designing a world class eCommerce website is relative; it all depends on the features and reputation of contracted web Design Company.
For someone who does not have a big budget for eCommerce website can go for Word press template or woocommerce. A web designer will give you different templates to choose from.
No matter the options suitable for you, template or custom made, you have to have a good budget for site promotion and advertisement if you mean business. Starting eCommerce business without marketing and advertising budget is a waste of time and resources. The secret and the success of eCommerce website are on the amount of traffic it attracts on daily basis.
When to expect making money?
The number of visitors you are able to attract to your eCommerce website will determine the return on your investment. The traffic volume should not be less than 20 to 50 thousand people visiting your eCommerce website per day. This is very possible to achieve leveraging on the power of digital marketing.
Commission is one of the majour means to generates money from eCommerce website, though service charge from sellers could be another means of making money from this business.
You can create an eCommerce website for your business and promote it like every other one and you will be surprise on the tons of orders you will be receiving on daily basis.
For more information and contributions you can email us or drop comments below. Thanks 
