Vendorstack, a cutting-edge social commerce technology in Nigeria, set to serve as answer to Nigeria’s issues with online fraud and trust.
The prevalence of social commerce is growing in Nigeria. A report indicates that the social commerce industry is anticipated to experience consistent growth over the course of the projection period, with a predicted compound annual growth rate of 71.3% during the period 2022-2028. The gross merchandise volume (GMV) of social commerce in Nigeria is projected to grow from one billion US dollars in 2022 to twenty-three billion US dollars in 2028.
During the past several years, a number of new businesses have been established with the goal of capitalising on this expansion; however, none of these companies have been able to provide a solution to the most important problem facing the social commerce space in Nigeria, which is the problem of fraud and a lack of trust.
Through the use of an escrow service, this platform, which was developed with the intention of putting in place a centralised ordering system, offers companies a safe and dependable method of selling their wares over the internet.
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The impact of Vendorstack
Vendorstack is poised to completely transform the landscape of online retailing in Nigeria because of its comprehensive collection of user-friendly features, which includes a safe payment gateway, an easy-to-use interface, and powerful store management tools. With Vendorstack, you can wave goodbye to the challenges posed by online commerce and welcome a selling experience that is both streamlined and reliable.
The number of people using social media is highest in Nigeria, with over 92 million people participating. Additionally, when compared to any other region in the world, Nigerians spend the most amount of time per day on social media platforms. All of these things point to a very optimistic indicator for the social commerce landscape in Nigeria, which is a landscape that Vendorstack is prepared to capitalise on.
Vendorstack gives businesses the ability to sell their wares online at no cost by providing them with a variety of options that simplify the process. These features include a safe payment gateway, a free storefront, in-store analytics, live chat, the ability to sell an infinite number of products, and real-time alerts on customer orders.
What Vendorstack founders want customers to know
Ifeoluwa King and Olanipekun Kazeem, the co-founders of Vendorstack, want to reassure businesses that they may sell their items online without the risk of being victimised by scammers. The platform’s dedication to ensuring the safety of its users and providing them with the fundamental tools necessary for achieving success online has won them credibility in the competitive e-commerce environment. Vendorstack has established itself as a trustworthy and helpful partner for companies operating in the modern online arena by continually working to enhance the quality of the services it provides.
Vendorstack is a game-changing force in the Nigerian e-commerce market, tackling important concerns such as online fraud and a lack of trust in the process of conducting business online. Businesses are given the ability to flourish and thrive in the digital sphere by Vendorstack, which enables suppliers to do so by providing them with an easy-to-use interface, access to a big audience, and a variety of strong tools.