Edited by Paul Moronfola
Early 2020 saw a massive reliance of many businesses on online shopping platforms as they desired to increase their sales operations. This reliance led to certain benefits enjoyed by such businesses and individuals alike, further potentiating the rise in the use of online shopping platforms over the already present shopping stores.
What are online shopping platforms and shopping stores? What is responsible for the rise in their use? Using Nigeria as a case study, this article highlights the rise and how businesses can boost their sales by leveraging the platforms.
What is an Online Shopping Platform?
An online shopping platform is a marketplace where commercial businesses occur online. As a marketplace, the platform provides everything a business and its customer needs in terms of buying and selling goods and services. An example is Jumia, a Nigerian online shopping platform where businesses can create an account (which represents their online store) and showcase their goods and services.
The existence of online shopping platforms paved its way into the 21st century, reducing the rate at which people buy and sell at physical shopping stores. For example, a study made by global e-commerce confirmed that in 2022 there was a massive increase in online shopping platforms. Furthermore, it forecasted that by 2026, more than 8 trillion people would recognize online shopping platforms as a convenient commercial business platform to buy necessities.
What is Responsible for the Rise in the Use of Online Shopping Platforms?
The rise in the use of online shopping platforms can be majorly attributed to the factors highlighted below:
● The Pandemic
Before the coronavirus pandemic, many businesses already used online shopping platforms. However, the competition with brick-and-mortar stores was stiff as many people did not really recognize them or were willing to test them. Furthermore, no situation prompts that.
With the emergence of the coronavirus pandemic, there was a sharp increase in the reliance on the platforms leading to its rise due to the movement restriction on the populace.
● Reduced Difficulty in Getting Goods and Services
While this was not directly related to the sharp increase in reliance, the lesser difficulty in getting goods and service means stabilized the use of online shopping platforms.
Online shopping platforms were designed such that businesses can project their goods and services, and customers can easily get these goods and services at a desired location. As a result, customers do not need to go to physical stores. All they need is to shop for the goods on request for a service online, and they get it at their doorstep.
● Price Comparison
One of the subtle rises in the use of online shopping platforms is the easier price comparison between different businesses.
Comparing the price of a good or service on different online shops is easier. As a result, in contrast to getting the prices of goods and services from different brick-and-mortar shops, getting the best price for the same commodity is secure and easier. Furthermore, the rise in online platform use also means that intra-competition reduces the price further.
Using the Online Shopping Platform Amidst the Increase Competition
In Nigeria, many businesses are at the peak of securing their businesses online to sell their goods or render their services. However, the rise in online platforms also means an increase in competition. This section gives some tips that give you an advantage:
● Give out Discounts and Promotional gifts
One way to keep running an online shopping platform effectively is to give discounts and offer gifts to customers.
Giving out discounts can help attract and retain large consumers to your brand. For example, if your business deals with jewelry, you can offer a discount on a product after the customer has shopped for one of your other products.
● Utilize Technology and Social Media
You can also be ahead of your competition by leveraging technology and social media, as both are powerful means to open your businesses to the world.
Through technology such as Google Analytics, you can draw close to your customers and get information such as which social media platform customers use more often. You can then use such information to develop a plan which you can use to entice your audience and advertise your products.
Additionally, many physical stores have found technology and social platforms more interesting in sales. It helps some companies keep ranking their potentiality and status to reach the top across the globe.
● Share Customers Testimonial
A customer testimonial can help assure prospecting customers that your brand is legit and you render quality services. Furthermore, sharing experiences about your products helps build trust and confidence and creates social proof that they are worth purchasing.
● Create Impressive Content for Blog
The blog section can be a winning part of your business, especially when used well. Like most businesses desiring upscale, creating awakening content can move people to purchase your product online.
Blogs can contain ideas on what to do as regards your products. For example, if a business deals with tech products, creating how-to articles can help consumers relate to the products and solve problems.
Like other aspects, you can entice your audience and grow your business with a quality-focus attitude to blogging.
● Make connections with related companies
Making connections with other companies helps to attract more consumers and cross-promote products. You should search for a similar company that sells the same product and make connections to achieve a profitable business.
For example, if you sell shoes, you can connect with companies selling clothes to reach more shoppers. You can also connect with different companies with different products to understand the techniques used in making a profit in their pockets and build your brand awareness.
● Social Media Platforms
Social media is another way to boost your business and make effective sales. Yes, as we know, building followers on social media requires much action and time. Ensure you are determined to give it time to create your social media platform. You can use any of the following sites to boost your business. Such as;
YouTube
Google+
Quora
Snap chat
LinkedIn and
Other social media platforms.
Common Online Platform You Can Use to Get What You Need
There are many Nigerian online platforms accessible to many businesses. Below are the common platforms you can use to get what you need:
- Shopify
Arguably, the largest online platform, Shopify, is the home to many businesses that deal with virtually all kinds of goods. This online platform renders services such as email integration, SEO, and other goods that allow businesses to grow.
- Jumia
Number #1 Nigerians online shopping platform. Jumia offers businesses a place to sell their products.
- Konga
At konga.com there are amazing products where shoppers can purchase any product of their choice. It gives affordable prices with a delivery to your doorstep.
- Payporte
Payporte is a fashion online shopping site where you can always purchase various quality clothes. It does not limit its wear to youths alone. Both men and women can also have their taste on payporte.com
Conclusion
This article has shared a lot about online shopping platforms, from the significance of shopping online, which many industries care about more than physical stores. Also, it has given retailers tips on boosting their brands and some online platforms they can use to make more profit.
