CREM NEWSLETTER Vol.2

EDITORIAL

Just like a bolt from the blues and without warning, Covid-19 pandemic hit the world. The world suddenly locked down. This affected all segments of business and lifestyle. With the outbreak of the pandemic, many Nigerians were caught unawares. Most affected were the SMEs who eke their living daily from the streets. Organizations and businesses were shut down, schools were closed, and many people were locked in their homes without food. In order to control the spread of the virus, certain measures were taken by Nigerian authorities. There is the social distancing, constant washing of hands and maintaining high level of hygiene. Even as the lockdown was gradually eased, it became difficult for many organizations to operate in the usual conventional manner. New customers became difficult to acquire while most small enterprise were forced to adopt digital styles they were not conversant with.

For consumers across the country, priorities are also shifting. Before Covid-19, customers could easily walk into a market, touch, engage, and experience a product. Now, that is no longer so. Many customers are now relying on online reviews and comparisons to make their purchasing decisions. Where possible, many businesses have invested in infrastructure to facilitate remote working for their staff. We believe that over the next two years there will be a considerable shift in behavior across business and consumer segments underpinned by the current trend.

Read more: https://cremnigeria.org/wp-content/uploads/2020/09/Final-CREM-Newsletter-2nd-Edition.pdf