‘Consumers instrumental to digital transformation sustainability’

Consumers have been described as the backbone for the sustainability of digital transformation occasioned by the COVID-19 pandemic.

Country Manager, Microsoft Nigeria, Ola Williams, in a paper titled “From e-commerce to omnichannel, consumers drive retail digital transformation”, noted that in the Middle East and Africa, Microsoft retail customers reported that online sales brought in between two and five per cent of revenues before the pandemic.

She further stated that with an increase of 30 per cent, the Nigerian e-commerce market contributed to the worldwide growth rate by 29 per cent in 2021.

According to her, the place of e-commerce in the Nigerian economy is being boosted by the gradual transition of informal retailers into the online shopping community. Williams noted that in a world where consumers have more choices than ever before, the retailer will need to work harder to maintain customer loyalty.

Williams stated that tools that help to automate loyalty programmes and provide insight into customer behaviour would help brands spend more time innovating products and services for their customers.

She explained further that though loyalty programmes are valuable assets for retailers looking to personalise customers’ experience, building loyalty and trust can be completely derailed by a single cyberattack, which is why any sort of data management should always be paired with a security solution.

“Sustainability has become a major priority for customers, with many choosing to spend more money with brands that demonstrate their commitment to ethical, environmentally-conscious products and services. The right tech solutions can provide retailers with more transparency within their supply chains so as to ensure they meet these consumers’ demands.

“It is through technology that retailers can gain visibility from their supply chains and demonstrate transparent practices to their customers.

“COVID-19 may have been the unexpected push into a new way of doing retail business, but it’s consumers that give these trends the staying power. To take advantage of the business benefits, retailers will need to continue with their digital transformation journeys in earnest.

“Microsoft is working with Interswitch, an impressive payments and fintech innovator in Africa. Interswitch is working with banks like GT, UBA and Zenith to bridge the supply chain financing gap between an existing corporate-focused infrastructure and a small entrepreneurial economy emerging in the region using AI-enabled solutions.”

IN CASE YOU MISSED THESE FROM NIGERIAN TRIBUNE