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E-COMMERCE IN AFRICA: THE FUTURE IS HERE.

Let’s talk about e-commerce today. Simply put, e-commerce means buying and selling online. Whether it’s a product or a service you offer or are in demand of, once you leverage on the internet to reach out to customers or buyers, that is e-commerce. The world as we know is constantly changing thanks to the fast pace of technological advancement and businesses are not being left out on this wave.

E-commerce also covers money transactions, data transfer and all the many processes involved in doing business over the internet. E-commerce is classified based on the end to end parties into four: Business to Business (B2B), Business to Customer (B2C), Customer to Customer (C2C), Customer to Business (C2B). These have completely transformed the way we do businesses and have improved our lives for the better. Now, you can comfortably place orders for goods on Amazon or Shopify or Jumia if we’re bringing it home, and enjoy a smooth process.

These online stores have become a part of our lives and have affected our perception of goods purchases and business activities. Now we cannot talk about e-commerce without talking about the influence of Social Media. A lot of businesses have used this to their advantage and created a solid customer base by consistent interactions. Small businesses have even leveraged on social media platforms to sell goods and services and have been able to reach quite a number of people.

One limitation with this is that conversion depends on the strength of social media account following. This means that the number of followers you have is a higher ranked factor than quality of product or service. Also, the whole process is iterated manually from scratch for every new customer. Quite tasking, to say the least. Well, if you’re selling on social media and have these issues, no worries. We are here to help your business.

Biko is an e-commerce platform that helps you set up an online store so that you can manage your business and reach a wider audience. We also help you keep track of business data so that you can study customer behaviours and come up with strategies to improve your conversion rate. With our secure payment system, your money transactions are a smooth and seamless experience.

So, let us make your transition from being a “post on WhatsApp status business” to an online store a great one. You can trust us to provide you with the best tools to help you manage your business effectively to guarantee better customer conversion and growth. Great right? To top it all up, our newsletter keeps you informed on the latest development in the financial markets and helps you position your business for better success.

E-commerce in Africa is taking a new shape and the future is happening, as we see good improvements in access to payments, internet penetration, rising labour force among others. Biko sees that future and wants you to position your business to better partake in it.

As a continent, we are still at a nascent stage as far as this is concerned and the future looks bright for Africa as projections show that by 2030, e-commerce should generate over $500bn (Source: McKinsey: A vision for the future of cross-border payments). How then do you position your business for this coming boom? Biko is here to stay and well on track and trust us to be with you all the way. To get started with Biko, sign up here

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