Very insightful. This is a very systemic approach to restructuring retail business and the mindset of small business owners. Line of credit must be made available and people encouraged to take advantage of them ❤
This is very interesting, really curious to understand the business case behind such a venture, given how tiny margins are in the retail sector and what sets them apart from all the other B2B commerce platforms that have either failed or scaled back on the continent.
The problem is the software will now replace the middle man by lower charges initially and then once the investors push the company for better margins, charges will go up and crush the end user in the process. Seeing this play out in the Indian subcontinent over and over again.
Summary: Deepankar Rustagi, CEO of OmniRetail, challenges the use of gross merchandise value (GMV), a common metric in B2B ecommerce, arguing that Africa's B2B ecommerce industry should focus on revenue per retailer for a more accurate measurement of growth. He explains that the emphasis on GMV tends to overlook the challenges faced by informal retailers in Africa, who struggle with issues like high inflation, weak currencies, and limited access to credit. Rustagi suggests that to help retailers scale and become profitable, B2B ecommerce companies should provide support in areas like procurement, working capital, merchandising, seamless logistics, and access to credit. He points out that an asset-light model and decentralized supply chain are crucial for B2B ecommerce to effectively serve retailers in Africa, offering insights into inventory, providing credit, and facilitating transactions. By transforming into backend infrastructure and helping retailers grow, Rustagi’s Company aims to revitalize impact on the profitability and success of retailers in Africa, ultimately transforming the traditional trade landscape on the continent.
Nigeria's problems are political in the first instance. A country that has oil revenues of at least USD $50 Billion a year should not have any issues. The problems highlighted here should be non-existent and yet here we are. You can have B2B , B2C...B to anything platforms all you want but it does not detract from the fact that without first proper political reforms and accountability, none of that will work.
Thank you for taking your time to do these videos however , the video didn't do justice in explaining how the platform works, who can get on it and how they can get on it.
Look, omni retail obligations are misguided. If this were a Western market, you would be sued by now because you are indirectly exporting our data points without full disclosure and consent. There are solutions for this already in Nigeria. It seems like you quickly forgot what happened in Uganda!
