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BEING A FASHION RETAILER IN NIGERIA

| January 12, 2019 | no comments
Nigeria is a special terrain when it comes to the retail business. The buying behaviour of a typical Nigerian is quite different, so, as a fashion retailer in Nigeria, you have to possess ‘extra special’ skill and knowledge in order to successfully manage your customers and retail business.
 
Nigerians like to bargain: It does not matter how low an item is priced, a typical Nigerian will still bargain for it. So, you have to always be ready to negotiate with a Nigerian buyer.
 
Topping up prices: Because of the buying habit of most Nigerians, sellers usually top up actual prices in a bid to sell their products at reasonable rates. They do this in order to have a fair bargain with their customers. For example, if a product’s actual price is N5,000, since buyers like to bargain, a seller will likely price it at N6,000 or N7,000.
Some sellers excessively price their products in this regard which is not advisable as it sends the wrong message to the buyer. For instance, if a product’s actual retail price is N5,000 and a seller decides to double the price but eventually sells at N5,000 or N4,500 to a buyer, it will send a message to the buyer that he/she is likely buying at high price from the retailer and will look for alternative retailers another time.
However, it should be noted that not all retailers top the actual price of their products.

 

 
Nothing like fix price: I should probably say there is almost nothing like fix price…most times. Very few fashion retailers in Nigeria fix the prices of their products. As stated, Nigerians like to bargain, so, when you are in Rome, behave like the Romans.
 

NEVER compromise the value and quality of your product or offer: If your retail outlet prides itself in offering quality products, at no point should you decide to compromise that. Most buyers like affordable items. Offer them quality products at good prices but DO NOT go out of your way to please your customers by selling inferior items because you know customers will buy when the price is cheap or cheaper. Trust me, that same customer will come back to you complaining that the product she/he bought from your store is fake and inferior and will pass the message across to potential buyers which is never good for any business.

‘Last Price’ is a phenomenon: This is a phrase I dread in retail. Not all retailers top the actual price of their items and this is why the term ‘Last Price’ does not resonate with them. As a fashion retailer, you have to learn to accommodate this shopping culture – you should simply (and kindly) tell the buyer that the price is the good price for the product or item. Any serious buyer will either tell you how much he or she has for the product (which you can consider or not) or take the product at your price.

Nigerians are good shoppers/window shoppers: In as much as Nigerians like to actually shop and buy things, they are ‘good’ window shoppers too. A fashion retailer in Nigeria especially one with attractive window display encounters this on a regular basis. Some passersby would stand to look and admire your products with no intention to buy or actually walk into your store with attitudes that suggest they want to buy but only came in to browse through what you have in store. Be nice to them because they may eventually become your customers. However, be discreet and be careful with the information you give out to those who come in asking so much questions; Trade secret is still very much important.

 
Contact Befenchy House of Style if you need any help organizing and managing your fashion retail business.

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- author

Chichi is a Creative Entrepreneur & Consultant with portfolios in design, retail, sales, marketing, image building, business management, brand strategy, and content creation. Possessing creative and innovative skills, she founded Befenchy House of Style with a mission to create products and provide services that will help to improve the image and performance of individuals, brands and companies. She is also the Creative Director/CEO of the company and the Creator/Editor-in-Chief of Fashion Appraisal, Befenchy's creativity and lifestyle media which you are currently reading its content. She holds a masters degree in Business Administration.

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