New Telegraph

Lockdown opened more opportunities for e-commerce – Sellbeta

The Chief Executive Officer Sellbeta, Mr. Emeafu Chibuzor, has said the lockdown occasioned by the COVID-19 pandemic earlier in the year, opened wider opportunities for e-commerce in the country.
In a statement made available to newsmen on Tuesday in Abuja, he predicted that more indigenous e-commerce platforms would spring up soon, as the lockdown which increased internet penetration, helped awakened the spirit of creativity among Nigerians leading to more innovation.
According to him people were forced 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 as reported by the United Nations Conference on Trade and Development.
He said: “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.”
Chibuzor was optimistic Sellbeta’s business approach would see the company grow exponentially within a short while saying: “We 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 products etc.”

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