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BUSINESS: Alaba, Balogun, Onitsha Market, Others Will Disappear, Replaced By Online Shops, This Is The Future – Ike A. Offor

Alaba International market, Lagos

By Ike A. Offor

The open markets like Alaba International market, Balogun, International trade fair shopping complex, Onitsha main market and vast others will be gone for good for obvious reasons of changing trends in how business is done around the globe. These shops, markets others will be replaced by booming online businesses and shops in no distant future.

Some will think that this is a farfetched idea while some good number of people will recognise the changing trend on how business is done around the globe. The days of people spending time to travel to markets to buy what they need is fast dwindling due to the booming trend of online shops.

Alaba, Balogun and Onitsha main market and countless of other markets around the world will collapse into online markets or shops. There will be no more need to maintain shops in these market and be there in person to sell to customers who come to buy goods of their choice.

Those diehard doubters should ask themselves where are the video shops that filled Idumota, Alaba and Balogun and Onitsha main market of those early days of video and compact discs movie now? Those who were in those businesses of selling video cassettes and compact discs have all gone out of business today. They would have doubted it then if someone told them then that they wil be out of business in less than ten years from then.

So many American video rental shops, like video vendors, film burster and many others disappeared just because the business of renting videos, cassettes and CDs were sent into extinction due to the emergency of YouTube, and Netflix and others like iRokoTV, which has taken over African films. Instead of people watching rented films, they simply go to YouTube, Netflix, iRokoTv to directly watch the same films. This saved them money, space and time.

This same thing is about to happen to many businesses that now sell via open markets by waiting for people to walk in to buy from them. Buying will be done mostly online in the next 15 years or so and running a shop in these main markets will be unprofitable and waste of time.

WAREHOUSES WILL REPLACE MARKETS:

Like every online business, there is no need to have a shop where people walk in to look around and pick up what they need. Rather, the warehouse where these businesses store their goods for onward shippping via various means to be delivered to their customers, who ordered via their online website. These online shops aand owners are getting better and bigger and richer than normal shop onwers and their products they supply are increasing in range. You can buy cars, motorbikes, even houses online without moving a muscle trying to walk into their sellers shops.

The richest man in the world, Jeff Bezos runs the biggest online shop, the Amazon. What does this tell anyone? This simply tells anyone that this is the future means to make real money than runing a shop where people walk in to choose what they want to buy. Anyone can make their choice at the comfort of their home, office or while walking on the street, pay and their goods will be delivered to their doorsteps. This is the future and it is changing fast.

HOW TO AVOID THIS HAPPENING TO YOU:

It is advisable for every business owner in these markets to now start to think about opening and running an online business and begin to get good at it before it is too late and they are forced to go bankrupt like many who were in video and CD rental and sales business. The best way is to be ahead of the pack and think ahead and begin to act now. By the time this comes in the next 15 or so years, they have become good with online shop business. If you doubt this, you will be like those video shop owners who never saw that days will come when the market for videos and CDs will be replaced by YouTube, Netflix and iRokoTV.

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