One thing that is not in doubt is the Nigerian entrepreneurial spirit and drive. In the struggle for daily living and alignment with the digital economy, many Nigerians now sell one thing or the other online. Go to any social media handle, from Facebook to WhatsApp to Instagram and Twitter, and you will be shocked
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One thing that is not in doubt is the Nigerian entrepreneurial spirit and drive. In the struggle for daily living and alignment with the digital economy, many Nigerians now sell one thing or the other online. Go to any social media handle, from Facebook to WhatsApp to Instagram and Twitter, and you will be shocked at the stock of wares up for sale.
The number of people involved is simply unprecedented. A closer look indicates that a growing number of people are essentially taking advantage of retail arbitrage opportunities.
Today, Nigeria is witnessing a remarkable surge in retail arbitrage, a practice that involves buying products at a lower price and reselling them at a profit. This burgeoning industry is fueled by a confluence of factors, including the digital age, changing consumer behaviour, and entrepreneurial spirit.
We can say that the reasons behind the rise of retail arbitrage in Nigeria are obvious but its impact on the economy, its vast growth potential and what the Nigerian government can do to support and nurture the industry are not so clear.
The rise of retail arbitrage in Nigeria: Why now?
Experts agree that several key factors are contributing to the rise of retail arbitrage in Nigeria. The top four factors include the e-commerce boom, mobile penetration, changing consumer behaviour and the ever-present Nigerian entrepreneurial spirit.
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