I watched a video on Instagram where Ibukun Awosika was being interviewed by the interior designer that just finished working on one project at the chair center. (Massive building beside my office btw)
When she spoke, she said “well I’ve had this building since i was 38 or so and I’d never really done anything with it…”
Omo na once I close the video, carry my laptop begin work.
Had a conversation sometime back about how some Nigerian businesses don’t think much of customer retention. The focus is always on how to maximize profit on this particular sale today, now, this minute. They’d rather make 300k in one day & never make it again, than 3k everyday for 1 year.
The average woman has her period monthly, from 3-6 days (some more) and can use 2-4 paid daily. You’re looking at 72-288 pads in a year from 1 customer alone. How did anyone think 25k was a good price point? Idc if there’s diamond dust in it.
It’s like you create businesses with one time purchase in mind. Sure, maybe there’re ppl who would actually spend 25k to get this over priced box, just for the hype, but will they repurchase ? You have the opportunity to sell a highly needed product at a time when people are actively searching for sanitary alternatives yet greed won’t let you set a reasonable price.
After hype purchases, what next ?