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| Chief Executive Officer, Dressmeoutlet.com, Mrs. Olatorera Oniru |
The Chief Executive Officer of Dressmeoutlet.com, Mrs.
Olatorera Oniru has said that the growth in manufacturing and production of
packaged goods across many consumer segments ranging from food to fashion has
led to several opportunities for Retail in Africa.
She said this while speaking on the topic “Maximizing All
Opportunities to Excel in Retail” at the just concluded 4th edition of the
annual Retail Leaders Conference in Lagos organized by Bervidson Retail Group.
Oniru disclosed that Nigeria retail sector has over $5b
market potential, stating that there are 16 million smartphones zealous
entrepreneurs currently in the market to make it work and grow it.
Speaking on how Africa can retail to the rest of the world,
she advised retailers in the continent to decide their platforms and know how
they will reach their customers in the most efficient way to maximize sales.
According to her, retailers must have their three to five
years financial plan ready, adding that securing funding is necessary to excel.
“Retailers need to run their businesses meticulously. Retail
requires work. They need to be more hardworking in an under developed
continent,” she stated.
Oniru further stated
that retailers must be willing and prepared to push their dreams, saying they
should not let anything stop them from doing anything great for the world.
She also said that retailers must understand their target
audience and give them what they need.
She also noted that Africans do not produce cloth up to 95
percent of what we wear in Africa, pointing out that it is time that Africans
change this mind-set.
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