Jumia started its 7 day mobile
week yesterday and they tout some of the best phones, tablets and tech gadgets
at mouth-watering prices. I mean i saw my Infinix Note 2 being sold for N42,000
and i’m like arrrrrrgh! Should have waited for this, right? Wrong. Most online
retail tech companies hold mobile week sales in order to entice buyers and I’m
sure Jumia would have made massive sales last year. This year however might not
be so rosy for the online retail company. Here’s why-
Price of tomatoes
Seems unlikely but yes you read
correctly. The fact that tomatoes now cost practically one for a N100 may
affect the sales of online retail giant. Tomatoes are now like gold and people
are saving money just to buy tomatoes. So instead of using N26, 000 to buy an Infinix
hot note 3, i might as well just buy a basket of tomatoes. #justsaying
Purchasing power has dropped
People who would have been able
to buy phones at higher prices last year may be unable to buy them at lower
prices this year. The reason is simple enough. Purchasing power has dropped. There
have been job cuts, salary slashes, pocket-money slashes and even sugar-daddy
money slashes lol!. The effect of the economy is telling on every one. So when
i am even barely able to feed, pray tell, where will i get the money to buy a
new phone from except i absolutely need it?
Exchange rate
Ahan! The almighty exchange rate.
With the dollar exchanging for N348 to a dollar and the pound for N495 to a pound at the Black Market rate, this might just be
the spoiler. This time last year, the exchange rate was almost twice as low.
Now with the increase and uncertainty, prices of gadgets are skyrocketing and so
also are people’s reluctance to buy gadgets at such rates when they could be
saving.
It may be a hard sell for Jumia
but again, maybe that’s not for me to say because Nigerians love to spend and will
still patronise Jumia anyway
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