In this videocast, I share an experience how one of my companies that sells electronics kits was disrupted by Nigeria’s e-commerce giants, Konga and Jumia. Fasmicro is an authorized partner to Altera and Microchip in Africa. We used to sell dozens of Pickits per year. But in 2016, we sold none, when Konga got into that business. We became invisible to students and we lost the market share. Though we matched price, it was irrelevant because no one knew we existed. This shows the power of e-commerce. Just like Amazon.com, which took out many retail giants in America, African e-commerce companies, on maturity, will have major impacts on retail markets. The lesson is that depending on your business, you must watch, as winning digitally requires more than having a website. Opening a shop in Konga and Jumia is what we plan to do now. We need to clear the old inventory for good.
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