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How eCommerce is Making Prices of Good & Services More Affordable

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By Adeniyi Ogunfowoke

 

Change is the only constant thing in life. The modus operandi of doing business in Nigeria has significantly been disrupted since the entry of eCommerce. One of the areas that the impact of ecommerce is currently being felt is in the prices of goods and services.

 

Gone are the days when shoppers have to visit physical stores or markets to haggle about prices. Sometimes, the prices at these stores are so outrageous that you end up either buying the product at an exorbitant face price, or buying a low-quality product because it is cheaper or you simply return home empty-handed. If any of the aforementioned happens to you, you are in a no-win situation.

 

Presently, a millennial or tech-savvy person who wants to buy anything is most likely to visit an ecommerce store. Apart from the fact that you will get a quick and real-time idea of what you intend to buy, you have the opportunity of comparing the prices of different brands in the same product category.

 

Offline vs Online Prices

The prices of goods and services online are not hidden. It is visible for everyone to see and of course, ecommerce companies like Jumia have made efforts to get shoppers and deal-scavengers the best price. Interestingly, to give you assurances that you are being offered the best price, Jumia recently ran a campaign tagged ‘Last Price Campaign’. The objective was to offer customers the very best prices on over 1,000 iconic products across all categories on its platform.

 

This is the level of guarantee that ecommerce companies are giving their customers who always desire the best price. In fact, competition in the ecommerce space is also driving down the prices.

 

There are many online stores who want a chunk of the market. One way to attract with the customers is by offering them the best price. So, beyond the convenience of being able to book a hotel or buy an item at any time of the day, an ecommerce store like Jumia will offer the best price on good and services. And since Jumia is now an ecosystem, shoppers have the opportunity of receiving the best deals on travel, food, and services.

 

To lend credence to this, if you book directly with the hotel, you will be getting the exact rates of the rooms. Conversely, if you book with an online travel agency like Jumia’s hotel and flight services, you will get a discounted price because they already negotiated the best price on your behalf. In addition to this, customers can take advantage of coupons and vouchers.

 

Currently, it appears as if the price war is not between offline and online stores but among online stores.

 

For the offline stores, shoppers have the advantage of haggling prices. The truth is that not many people want to go through this. But, if you decide to visit a departmental store, you simply accept whatever price you are offered. No negotiation…that is the last price.

 

Here, you cannot blame the brick and mortar store. Factors such as rent, electricity, payroll, fixtures and shrinkage loss all contribute to the gross margin and overhead of doing business in a shopping centre or elsewhere. This is why many offline stores are moving online. That’s not saying that these things don’t affect online retailers. They do, but online stores have a relatively better return on investment when compared with offline stores.

 

This is perhaps another reason to shop online as you have the virtual chances to visit different websites to get the best price.

 

The biggest shopping festival of the year: Black Friday

Black Friday, which is usually held in November is the biggest shopping festival in the world. A time to enjoy ‘crazie’ discounts on products and services. Nigerians have caught the Black Friday fever that they now save to cash in on the sales.

 

The fact remains that shoppers will get the best Black Friday deals and prices online and in the same vein, the goods will be delivered at their doorsteps. This is not the case with offline stores and if you factor in their high prices, it is advisable to stick with online shopping.

 

More importantly, the ‘shopping madness’ associated with Black Friday will be ultimately bypassed.

 

Can every day be Black Friday?

Thousands of customers will really love every day to be Black Friday. Clearly, this is not possible because fantastic deals and discount are usually one-off and they are only offered on Black Friday. Regardless, customers will still get the best deals. As earlier mentioned, competition is impacting price and it has helped online stores to offer the best available price.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

E-Business

ISDL Achieves IMS Certification

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Integrated System and Devices Limited (ISDL), a major provider of electronic security solutions, is delighted to announce the successful attainment of ISO 14001:2015 and ISO 45001:2018 certifications following a rigorous audit process conducted by Bureau Veritas Certification Holdings SAS-UK Branch.

ISDL Achieves IMS Certification

In 2021, ISDL bagged the Quality management systems ISO 9001:2015, and now in 2024, with unwavering dedication to customer satisfaction, the occupational Health and Safety system ISO 45001:2018 and the Environmental management system ISO 14001:2015 have been consolidated to form an Integrated Management System.

These certifications, covering ISDL’s headquarters and branches, signify the company’s unwavering commitment to upholding the highest standards of quality management across all facets of its operations.

According to Oluseun Mabogunje, managing director of ISDL, the scope of the certifications encompasses the design, procurement, supply, installation, integration, maintenance, and after-sales support of various electronic security and Extra Low Voltage (ELV) equipment.

Mabogunje expressed his elation at receiving the IMS certifications, emphasizing ISDL’s dedication to delivering exceptional quality and service to its clientele. He emphasized that this achievement underscores the company’s ongoing pursuit of continuous improvement and customer satisfaction.

 

 

 


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E-Business

Cybervergent’s Q1 2024 Report Reveals Rising Threat of Remcos RAT Malware in Financial Sector

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Cybervergent, a foremost technology company providing automated cybersecurity solutions, in its Quarterly Brief has revealed a troubling trend in the financial sector that shows a spike in attacks utilising the deceptive Remote Control and Surveillance Access Trojan (Remcos RAT) in Q1, 2024.

The findings affirm a stark forewarning to the financial institutions and organisations in the African continent, urging heightened vigilance and proactive measures to mitigate potential escalating risks.

Previously marketed as a legitimate software, Remcos got co-opted by malicious actors and is now a prevalent tool in cybercrime campaigns. This remote access tool grants attackers hidden entry into victims’ devices, allowing them to seize control, pilfer sensitive data, and even introduce stealth backdoors to compromise entire systems. The capabilities of Remcos are diverse and frightening, ranging from disabling vital security features like User Account Control (UAC) to covertly recording user activities.

“As vigilant cybersecurity gatekeepers, we have observed a significant surge in attacks leveraging the Remcos RAT malware,” said Gbolabo Awelewa, the Chief Solutions Officer, Cybervergent. “Financial institutions are particularly targeted due to the sensitive nature of their data and assets. Organisations must remain diligent and adopt proactive monitoring measures to safeguard against such threats.”

The proactive approach adopted by Cybervergent’s Cyber Operations Centre involves meticulous analysis of attacker tactics, constant updating of threat intelligence, and implementing robust endpoint security solutions. These measures are designed to detect, prevent, and neutralise Remote Access Trojans like Remcos, ensuring the continued security and compliance of organisations in the face of evolving cyber threats.

“Our mission is to fortify our clients’ defenses and ensure the seamless operation of their organisations,” added Gbolabo. “By staying ahead of emerging attack vectors and vulnerabilities, we empower businesses to take proactive measures and protect their valuable assets.”

Looking ahead, Adetokunbo Omotosho, Chief Executive Officer of Cybervergent emphasised the firm’s focus on empowering organisations to navigate the complexities of cybersecurity and compliance with dexterity and confidence.

“Cybervergent’s Assurance and Compliance Team has demonstrated unparalleled leadership in the cybersecurity domain, achieving significant milestones and delivering transformative solutions. Our journey through Q1 reflects a deep commitment to advancing the state of cybersecurity compliance, paving the way for a secure and resilient digital future for organisations in Africa and across the world”, he added.


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E-Business

Konga Launches Free Same Day Deliveries on Starlink, Apple & Samsung Nationwide

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Konga, the only authorised shop-in-shop for Starlink Internet kits in Nigeria, is offering its customers free same day delivery across all major cities in the country.

With prices of Starlink Internet kits slashed by 50%, Konga is delivering additional value so that both homes and businesses in urban and remote places can enjoy infinite possibilities with their internet on both their standard and enterprise installations. This offer which is available both online and in its retail stores nationwide is exclusive to new and existing customers this month.

With the improvement in prices on both original standard and enterprise Starlink kits, customers can now enjoy a global warranty and direct installation services by purchasing only on Konga.

Since the launch of the partnership with the Elon Musk owned satellite internet provider, Nigerians have continued to celebrate the uninterrupted supply of fast and efficient cyber network services from the authentic devices available on Konga.

In addition to Starlink, other unique items from leading global companies such as Apple, HP, Lenovo, Samsung, Zinox, Philips, Intel and many more are available at unbeatable discounts in the Konga Tech Month from the 1st and will run till the 31st of May 2024.

The Konga Tech Month was extended from its traditional 7day promotion to 30days to give more people access to exclusive deals throughout the month. To enjoy these mouthwatering offers, visit konga.com or any of its physical outlets today.


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