How to start an online retail store
Amazon is the biggest and fastest growing online retail store in the world.
According to Thisdaylive, the Nigeria ‘s eCommerce is currently worth around $13 billion (about N4.01 trillion), and experts in the Nigerian financial service sector have estimated that Nigeria’s e-commerce market value could rise to $50 billion (N15.45 trillion) over the next decade.
Online shopping in Nigeria records about 1.3 billion naira worth of transactions monthly and not less than 500 orders are placed in a day with each retailer nationwide according to Philip consulting. Also, it has been reported that within the last two years investors put in a whooping sum of over 205 billion naira into the eCommerce industry in Nigeria.
How did Jeff Bezos begin Amazon and nurtured it until it’s now the number 1 online store in the world? How did Alibaba grow to the giant it is today?
Play the full video above for a detailed analysis and guide on how to start, with what, where etc. I used Nigeria as an example but this can apply to any other country.
Amazon began small and grew to the height it is now. You can do the same.
*These data and video were written and recorded in early 2018.
This is part of my business ideas on what a young African can engage in for both personal and national good.