Have you ever wondered why some products in Nigeria are selling more than other products?
Have you ever wondered what these fast-selling products are?
Maybe you should think about the likes of Aliko Dangote in Nigeria, the kinds of Wale Adenuga, Carlos Slim Helu, Bill Gates, and many others on the international scene.
These are wealthy businessmen who over the years have exploited the global market system to provide goods and services which has gone to cement their names on the list of the richest men on planet earth.
Good to know that they did not through fraudulent means push their way up there, instead they leveraged on goods and services that humans cannot do without, some of them saw a gap in the future and they took charge to fill these gaps to make a name for themselves, now they are a force to be reckoned with anywhere, anytime.
For lovers of Nollywood, that is the Nigerian movie industry, we get to watch different movies about men using diabolical means to sell their products, they engage the services of dibias and Babalawo to use voodoo or charm to facilitate the sales process if that is real, it is hard to tell.
The point is you do not have to visit the seventh heavens or across the seven seas to make money doing business in Nigeria. All you need do is study the market, come up with a good business plan, and think smart.
The reality is there are plenty of products and services that we can sell in Nigeria, for a country of over two million in terms of population, there is a huge market system here that offers varieties of goods and services, selling and buying is not new terms when it comes to doing business in Nigeria.
The lack of employment opportunities in the country, the high cost of living in most parts of the countries, all this has made business doing in Nigeria a very lucrative venture.
Having realized the huge market that we have in Nigeria, for small and medium scale enterprise you do not have to think twice or far to know what to sell, there are numerous fast selling products in Nigeria that you can leverage on.
Probably you have been selling certain items with a very low turnout. You have to reevaluate yourself and what you are doing.
Are you filling a gap? Just as I pointed out earlier there are plenty of products that you can sell in Nigeria without hassles, however, it is important to note that it is relative.
You do not have to copy and use the business plan of others and use just like, you have to make sure that they suit your purpose.
Selling goods in Nigeria is more than going to the market to buy varieties of goods and products, open a shop, and start selling. No, you have to have a plan. If a particular product is selling at a very fast rate in area “b” that does not mean that it may sell in area “c” there are several indices and metrics to be considered.
Nevertheless, we have a list of some products that are in high demand in Nigeria.
Just before we consider these fast selling products in Nigeria, let us consider the various factors to be considered before selling any goods or offering any services in Nigeria, either they are fast selling or not.
Factors to be Considered before Selling a Product in Nigeria
- Your Product– Your product is the largest internal factor that affects your sales. It should satisfy the needs of your customers so they’ll keep buying your products. Make sure to maintain the quality of your product at a reasonable price.
- Marketing Strategy: Brand positioning, traditional marketing, digital marketing, target audience, proper distribution, and correct pricing all impact your sales.
- Marketing Personnel: Your marketing team should have the right qualifications to do the job right, so they can come up with the winning sales and marketing strategies. Expect a higher volume by considering the recent market trends.
- Resources or Finances: Every business needs the right amount of money or capital when introducing a new product, investing in a state-of-the-art production facility, or brand-building or marketing campaign. Your finances can significantly affect your sales. For example, it dictates the number of potential customers your marketing campaign can reach, given a high amount of capital for digital marketing strategies, such as social media marketing, pay-per-click, and email marketing.
- Tapping Consumers’ Digital Footprints: It involves generating leads by identifying and tapping the digital footprints of your customers, such as sending a follow-up email (through email marketing) to those prospects who browsed your product categories or who registered as a member. Sending personalized sales messages often results in higher sales. Making customer experience personalized drive buying motivation and customer retention.
- Technology and Automation: A few examples of technology and automation include automated order booking, electronic payment facilities, and shipment tracking facilities. Upgrading your business system can help you achieve your target sales.
- E-commerce Multiple Formats: When you’re engaged in e-commerce (internet selling or online business), you need to make sure that your website is secure, so more consumers are encouraged to buy. Offer consumers flexible payment options and make your website fast, reliable, and easy to navigate.
- Supplier Relations: The business relationship you have with suppliers is crucial to your production. It’s important to build and maintain a network of suppliers because the availability of raw materials can affect your manufacturing process and the volume of finished products
- Satisfied Needs: The customer always acts to satisfy the greatest number of unmet needs, in the very best way, at the lowest possible price. During the sale process, a major part of your job is to demonstrate that customers will get more of what they want, faster, by purchasing your product or service than they would get if they bought something else.
- Credibility: One of the major factors that influence a customer’s decision-making process is credibility. Proof that the other people similar to the customer have purchased the product builds credibility, lowers resistance and increases sales. Every bit of information that you can present showing that other people, similar to the customer, have already wrestled with this buying decision, have decided to purchase, and have been happy as a result, moves you closer to making the sale. One of the most powerful of all the factors that influence buying decisions in our society is called “social proof.” We are all influenced by what others have done or are doing. We are much more open to buying a product or service when we know that other people like us have already bought it and are happy with it.
- Testimonials: Another one of the factors that influence a customer’s decision-making process are testimonials. Testimonials of any kind increase desirability and lower price resistance to a product or service. Testimonial letters or photographs of happy customers using and enjoying your product or service, or lists of satisfied customers, is one of the most powerful factors that influence a person to buy. You should persistently solicit testimonials from your customers. Acquire them from every source possible and every way you possibly can. Testimonials can make your sales process and ability to influence the decision making process much easier. You will find that almost all top salespeople use testimonials that praise and support the product or service they are selling and that are relevant to the customer they are selling to.
Fast Selling Products and Goods in Nigeria
- Information– this is definitely going to top the list, this is the most of the fastest selling venture that you can ever trade in. you are probably reading this article right now because you are looking for a particular information, no doubt about that. You reading this, there is little percentage that it is b chance. People pay a whole lot; some pay a fortune just to have the right information about a product or concept. They say information rules the world, and that is no lie. Maybe you should think about why there is a lot of online classes these days, why there are various Whatsapp, Zoom and other platforms are used to train people online, the social media platform is filled with various sorts of master class which requires people to pay before they can partake. There are many websites in Nigeria whose main aim is to provide answers through information to the people. Man naturally is a curious being, he wants to know, and there is a thirst in every man which can only be filled with the provision of knowledge. There is something you know that others do not know and will like to know
- Clothing and Shoe– The most favorite thing for women and girls in Nigeria today is clothing and shoes. Likewise the men, the love appearing decent and competitive in their dressing. And because of this, there are so many styles of clothes that exist in Nigeria. The country is an African country, is poised to styles and fashion. In Nigeria, you can make a fat profit from Ankara pattern and cool fabrics. This is the world of fashion and no one wants to be left out in the competition. When you sell these clothes and shoes, it must be for both men and women. If done right, the selling of clothes in Nigeria is a lucrative one, a fast selling one at that
- Gaming– youths in Nigeria has a thing for games, a walk across the hostel of most Nigerian universities will prove this claim right. You will accept as true with me that the majority male likes football. And an honest number buys and plays different sorts of games within the comfort of their houses. There are many computer game business centers now where people go and play different sorts of games. Therefore, gaming business in Nigeria may be a fast-growing one because it is both for commercial and private use. Some of the highest games include FIFA “18, PES “18, PES 2017, PES”19, battlefield, fallout, turn duty, the Witcher 3, etc. Here are the highest gaming products to sell online in Nigeria. PlayStations 4 and 3: consoles, accessories, and games. PlayStations vita: consoles, accessories, and games.
- Cosmetics in Nigeria cosmetics are mostly women’s things. They buy new clothes; put them on and the next thing they will think is their favorite perfume and lipstick. Cosmetic and beauty business is a highly profitable business that cannot be skipped as far as its demand is high. If someone tells you that out of 20 Nigerian girls 19 make use of Cosmetics, do not doubt because it is exactly what is happening in Nigeria. There are also some women or girls that can’t even step into their street without a single makeup, but. even at that few natural ones still, exist.
- Health and Wellness Products– Health products are one of the fast selling products since the advent of the internet. No matter the background, gender, economic status, or culture, everyone wants to be healthy, and are willing to sacrifice every penny to achieve their health goals. The health industry is a wide business area with each of the products being profitable. Aside from buying from manufacturing companies, you can also create your own products and market to your audience. For health and wellness, some of the fast selling products include; Vitamins & dietary supplements, herbal remedies, nutritional and overall health products, weight loss products, sexual wellness products, reproductive health products, body pain relievers etc.
- Hair Wig And Extensions
Hair extensions are one of the high in demand and fast selling products that sell both online and offline in Nigeria. From wigs to weaves, to extensions, human and synthetic hair, the market for hair is wide. Hair is a coveted commodity with widespread usage amongst the young, old, and fashion-conscious class of women. It is a popular business and a very lucrative venture. Today, there are several kinds of styles and qualities of hair and extensions being sold online; each of them, branded along ethnic or racial lines. Some of the hair you can invest in include; luxury virgin hair, pure Mongolian hair, finest Remy hair, sleek European weaves, Peruvian hair, etc. Also, you can sell shampoos, relaxers and hair lotions, detangling brush, and other items that are complementary to wigs and extensions.
- Baby Accessories
Baby essentials are timeless. They are important needs and one of the fast selling products in Nigeria. Whether you are expecting a baby, already has a child, or related to a parent, taking care of children is an essential thing. The care can include feeding, clothing, shelter, education, safety, and other areas that contribute to the wellbeing and full growth of a child. At each stage of a child’s growth, some needs have to be met. The focus can be on toys, educational books, clothes, baby food, games, shoes, furniture, etc. All are profitable if you do it well. If you wish to invest in this business, some of the bestselling baby products and accessories include; crib, baby carrier, diapers, feeding bottles, jumpsuits, wipe, breast pump, cloth pegs, water flask, tits, etc.
- Food and Groceries– Food commodities are essential items for human health. They are the basic needs for human survival and help to boost the immune system. Owing to the stress involved with food and grocery shopping, consumers are now altering their shopping behavior and depending on technology. As a result, the trend has created an opportunity for foodpreneurs who supply packaged food items for immediate consumption. The business may vary from selling cooked dishes and delivering to clients to creating a package plan where customers contact you with their shopping list for raw materials and have them delivered to them. Due to the sensitivity of the niche, you must ensure proper hygiene and quick delivery services. Some of the fast selling food products to sell include; rice, cakes, snacks, chicken, egg, beef, potato chips, cookies, pizza, milk, cheese, fruit, etc.
- Power Banks– Since one of the greatest challenges Nigerians are facing today is lack of electricity, the use of power banks is placing the product in high demand every day. Not just in Nigeria, but in the world overpower banks are used as a reserved power for mobile and Bluetooth devices. This product is good to be used at work, on the road, in schools, churches, etc. It is so portable and flexible to use. It can last between 5-7 hours depending on the capacity you are making use of.
- Baby Accessories– Baby essentials are timeless. They are important needs and one of the fast selling products in Nigeria. Whether you are expecting a baby, already have a child, or related to a parent, taking care of children is an essential thing. The care can include feeding, clothing, shelter, education, safety, and other areas that contribute to the well being and full growth of a child. At each stage of a child’s growth, some needs have to be met. The focus can be on toys, educational books, clothes, baby food, games, shoes, furniture, etc. All are profitable if you do it well. If you wish to invest in this business, some of the best-selling baby products and accessories include; crib, baby carrier, diapers, feeding bottles, jumpsuits, wipe, breast pump, cloth pegs, water flask, tits, etc.