• Online stores record increase

By Princewill Ekwujuru

The advertising industry in 2013 experienced an unprecedented decline in media advert in various media vehicle penetration. This was due to the economic recession witnessed globally few years back which trickled down to Nigeria. The recession took a toll on the advertising industry as many companies could not carry out their primary duty of pushing their products to the market through advertising, even though the broadcast industry enjoyed a major share in the industry, a sign that brands and companies relied basically on the broadcast industry to draw the attention of their target audience.

Majorly, Out-Of-Home, print advertisements dipped  in terms of exposure of creative advert as a result of the argument that mobile advert has gradually crippled the flow of advert to below-the line, BTL advert spend.
APCON:
The Advertising  reform  embarked upon by Advertising Practitioners Council of Nigeria, APCON under the chairmanship of Lolu Akinwunmi  revolutionalised  the industry, thereby curbing the unnecessary incursion of foreign advertising agencies into the country’s advertising space gave Nigerian models the opportunity to be involved in advertisement shooting, locally and internationally.

E-Commerce:
The  relatively new market in Nigeria, online shopping recorded major increase. The  CEO of Adibba.com,  David Allison, who had valued online shopping business in Nigeria at billions of dollars, noted that  online shopping business is being facilitated by CBN’s cashless policy.

“With the new cashless policy being gradually implemented in Nigeria, things are looking up. People are getting warmer towards the idea of doing transactions online with several platforms springing up.”
Allison calculated that Nigeria is over 50 per cent ready for e-commerce. He said although there are scepticisms about e-payment solutions, the business is growing and will continue to grow as there are over 300 registered e-commerce sites presently.

Allison who recognised that e-Commerce market in Nigeria is relatively new said that the  online platform was  borne out of the desire to satisfy ever growing needs of shoppers. “Our Product categories vary from electricity solutions to fashion, phones, computer and electronics, food and drinks, games, toys and kids and Africana.
Recently it was  reported  that total investment in Nigeria’s online shopping market by both local and foreign investors is worth over $15 million (about N2.4 billion) with analysts predicting that the figure will double in 2014 as more investors see opportunity in the new sector.

Market watchers who assessed the growing industry strongly, believe that more online businesses will open in Nigeria in the next few months signaling a belief in the Nigerian economy.

NIMN:
The story was not the same in the marketing and management professional industries: Like in the National  Institute of  Marketing Of Nigeria, NIMN, where the leadership tussle in the institute was settled with the assumption to the  helm of affairs at the institute by Ganiyu  Koledoye, when he assumed the position of President and chairman of council of the institute on the instance of Chief. Luggard  Aimiuwu  who over stayed his reconciliatory tenure.