Online shops are seen as a threat to physical businesses. While it is evident that eCommerce is the future of fashion businesses, it really isn’t an immediate threat to brick and mortar establishments. With the growth of eCommerce ventures in Nigeria, online retail is supplementing traditional retail by giving businesses the platform to reach out to customers like never before.
The fashion industry in Nigeria is becoming a friendly eCommerce market. Recent findings show that the number of online fashion shoppers is sitting at 40 million. It will rise to 100 million in the next three years. With the growth of online shopping, Nigeria has seen a difference in the purchasing behavior of consumers. This has resulted in a change in the market dynamics for fashion-oriented businesses.
So What Is New?
Rural Nigeria is becoming a new and emerging market
Consumers from rural areas (villages and towns) are becoming a crucial part of the market. The availability of vernacular content, cheap smartphones, and data packages have made non-urban consumers receptive to online shopping. With more exposure to traditional media and social media, consumers are becoming more open to various fashion venues. With the varying availability and accessibility of offline brand retail outlets in certain parts of Nigeria, coupled with mouthwatering offers and slashed prices that online retail outlets provide, these consumers are paying serious attention to online stores.
New Demands For Quality Products
With the increase in popularity of online shopping, the fashion industry sees a rise in demand for top quality products. Thanks to exposure to social media and new media, today’s average Nigerian consumer is ready to buy high-end brands
How Can Fashion Brands Adapt To This New Market
The age of traditional media marketing is gone. In today’s business world, digital marketing is what gets the job done. Digital marketers reach out to consumers on online platforms that they spend most of their time on. Fashion brands can pick online platforms that their target demographic uses frequently and design their digital marketing campaigns around that. Other brands are doing it and are reaping results. Fashion based businesses need to take advantage of that too. Influencers are very important marketing tools in the current business climate. Fashion brands looking to connect with their target audience should consider combining their digital marketing strategies with influencer marketing.
Customers come first
Customers today want a personalized experience. From app notifications to specific ads, getting consumers’ attention at the right time and place is key to any form of business. Comfort and convenience are the two most important features that consumers look out for in brands. The fashion brands that are able to provide this get a massive size of the market.
For Fashion brands in Nigeria to be successful, they need to think to globally while acting locally. Nigerian fashion brands need to adapt to new marketing formats, such as increasing their digital presence on various online platforms. Fashion brands that can strike a balance between the online and offline world will get a good portion of the market.