WordPress Hosti
HomeeCommerceSmall and Medium Businesses in Nigeria can make the most of Black...

Small and Medium Businesses in Nigeria can make the most of Black Friday

Best Jumia Tech Week Deals

Black Friday (November 24, 2023) has become a big deal in Nigeria, with shoppers heading for retail stores and e-commerce websites in their droves in search of great deals on clothes, electronics, appliances and more. According to a Picodi.com survey, 23% of Nigerians participated in Black Friday in 2018. This number more than doubled in two years with 46% participating in 2020.

Small businesses may feel they need to take part or risk losing out. Yet, while Black Friday is a chance for businesses to enjoy a sales boost, some smaller companies lose money on the day because they can’t compete with larger retailers.

Others successfully use the day as an opportunity to clear stock, reward loyal customers, and gain new ones.

The biggest challenges for small businesses on Black Friday are creating awareness, ensuring technology is up to the task, and creating pleasant and frictionless customer experiences. Get these right and you’ll have customers for life.

Uneven Playing Field

The challenge: Small businesses are under pressure to offer deals that rival those of large retailers. Yet they can’t match the clout, stock levels, nor budgets of the bigger players – and they can’t afford to reduce their prices. If they try to keep up with larger retailers, they’ll almost certainly make a loss.

The opportunity: A good Black Friday strategy positions a business to bank profits ahead of the December and January shopping seasons.

How to win: Use Black Friday to clear out-of-season or surplus stock. This will make space on your shelves for new inventory and gives you an immediate cash flow boost.

- Advertisement -Fiverr Business

You may also be interested in Jumia Black Friday Deals.

Technology Demands

The challenge: Black Friday is a day that web traffic spikes as people hunt for bargains online – according to Picodi.com, most Black Friday shoppers in Nigeria (66%) shop online only. This puts servers and payment systems under immense pressure.

Large retailers have budgets for extra tech support, server capacity, and IT resources; small businesses don’t. If their website crashes on Black Friday, they could receive unwanted negative publicity on social media.

The opportunity: An online store increases a small business’s reach, allowing them to sell to customers in other cities or countries. Offering online sales on Black Friday attracts new customers, even if they are only bargain hunters.

- Advertisement -AliExpress Anniversary Sales

How to win: Encourage regular customers to create wish lists and then email them if you discount an item on that list. Schedule deals throughout the day to better manage traffic volumes.

If you don’t want to operate your own website, why not consider becoming a merchant on a platform like Jumia to extend your digital reach without building your own infrastructure?

Frantic Shoppers

The challenge: Customers are excited, impatient, and a little irrational on Black Friday. They want to bag their deals and move on to the next. It’s a stressful time for small businesses and their staff, who will likely take some abuse on the day.

The opportunity: Black Friday is one of the most talked-about shopping events of the year. Shoppers who get good deals will tell their friends, family, and online networks – even more so if they had a good experience (or a bad one).

How to win: Make shopping as easy and pleasant as possible. Offer samples in-store and extra discounts to loyal customers. Make sure you can manage the increase in deliveries and simplify your returns process. Offering a personal touch is how small businesses can outshine larger players. They may not show their appreciation now, but they’ll reward you with repeat business later.

Written By Abiola Adegbite, Sales Lead: Midmarket and Enterprise for Sage in West Africa

Related Topics

AliExpress 11 11 Sales
NaijaTechGuide may receive financial compensation for products/services purchased through affiliate links on this site. See full Affiliate Disclosure Here
NaijaTechGuide Team
NaijaTechGuide Team
NaijaTechGuide Team is made up of Experienced Tech Enthusiasts and Professionals led my Paschal Okafor, a graduate of Electrical and Electronics Engineering with over 17 years of Experience writing about Technology. Some of us were writing about Mobile Phones before the first Android Phones and iPhones were launched.

Recommended Read on NaijaTechGuide

Best Marketing Automation Software 2024

You need the best marketing automation software to scale your business fast and convert...

Best Content Marketing Tools for 2024

As a content marketer, you have a lot of tasks to accomplish. You need...

Best VPN Services Providers for 2024

The internet is one of the greatest achievements of humanity, but it is also...

Best 20KVA Generators to Buy in 2024

Generator sets, as an alternate source of power supply, come in their different sizes...

Best Laptops for Students 2024: 11 Top Picks to Choose From

So, you are a student who is looking to get the best laptop they...

Cheap Android Phones 2024 – Price, Specs, and Best Deals

Android phones are the most popular smartphone category. The popularity of Android phones are...

Best Android Phones 2024 – Price, Specs, and Best Deals

New Android Phones are launched into the market every week. This means that if...

Best Web Hosting Services for Building Websites in 2024

A good and reliable web hosting service will make a big difference for your...
Fiverr Business

More like this

Jumia Nigeria launches Buy Now Pay Later option to its Consumers by Partnering with Easybuy

Jumia, the leading e-commerce platform in Africa, today announced a strategic partnership with Newedge...

SEO Strategies for Agribusiness: Increasing Organic Reach for Fruit Sellers

Are you a fruit seller looking to expand your market reach and increase sales? In...

Best 3 Sites To Sell Gift Card In Nigeria

Gift card trading has become a norm that many Nigerians use to earn extra...