How technology is driving Nigeria's retail sector

E-commerce platforms in Nigeria are rapidly incorporating technology to enhance the country's retail ecosystem. One such company leading the charge is Alerzo, a business-to-business e-commerce platform founded by Adewale Opaleye. Adewale Opaleye, the Founder and Group CEO of Alerzo, sat down with CNBC Africa to shed light on how technology is transforming the retail landscape in Nigeria. Alerzo's mission is to empower informal retailers by providing them with the necessary tools to run a profitable business. By connecting these retailers digitally to their suppliers, Alerzo eliminates the need for physical store visits to procure products. Retailers can now place orders through the Alerzo Shop app or with the customer service team, streamlining the procurement process. Alerzo leverages technology to aggregate products and deliver them to retailers within four hours, revolutionizing the retail supply chain in Nigeria. In addition to procurement assistance, Alerzo offers retailers with POS software and a digital platform called VDS to track inventory and profitability. Adewale Opaleye highlighted the positive impact of technology on the lives of retailers, emphasizing the convenience and efficiency brought about by digital solutions. The company has experienced rapid growth in Nigeria, operating in 15 states with plans for further expansion. While focused on Nigeria, Alerzo sees opportunities for international growth in the future. Alerzo's funding strategy revolves around building a robust infrastructure to support retailers' needs effectively. By holding all infrastructure in-house, including warehouses, Alerzo ensures swift product delivery to help retailers maximize their profits. The company's commitment to empowering retailers with technology-driven solutions underscores its dedication to creating a sustainable and profitable retail environment in Nigeria. The supply chain has been a crucial focus for Alerzo, especially amid global supply chain pressures. Despite challenges, Alerzo sees these pressures as opportunities to enhance and innovate within the supply chain space. Adewale Opaleye's insights showcase Alerzo's commitment to leveraging technology to drive positive change in Nigeria's retail sector, making strides towards a more efficient and sustainable retail ecosystem.