Chief Executive Officer of an indigenous e-commerce platform, Sellbeta, Emeafu Elvis Chibuzor, has predicted that more indigenous e-commerce platforms would spring up soon.
He stated that COVID-19 pandemic which forced a global lockdown for months has ignited the spirit of creativity among Nigerians leading to more innovation leveraging on the increase internet penetration.
Chibuzor in a statement released in Abuja, on Friday, said the global lockdown forced people to go digital, providing and buying more goods and services online, thus driving up e-commerce’s share of global retail trade from 14 per cent in 2019 to about 17 per cent in 2020, according to the United Nations Conference on Trade and Development.
He predicted that e-commerce will likely maintain its trajectory throughout the recovery from COVID-19 and even beyond.
“Statistical data indicated that Nigeria’s e-commerce revenue is expected to show an annual growth rate of 11.78 per cent between 2021 and 2025, resulting in an estimated market volume of approximately $10 billion by 2050.
“With the increase in internet users in Nigeria and a likely third wave of COVID-19 delta variants, it’s most likely that Nigeria will experience another round of lockdown which will force most people to resort to online shopping which will invariably trigger establishment of more e-commerce platforms,” he said.
Chibuzor was optimistic that sellbeta’s business approach will see the company grow exponentially within a short while. “We at sellbeta believe that our business structure will make provision for Business to Business (B2B), Business to Consumer (B2C), and Consumer to Consumer operations (C2C) which would serve as a retail customer base that will continue to grow exponentially, offering products that span various categories including phones, computers, men fashion, women fashion, home appliances, books, healthcare, baby prod
