Skye Bank YESMall, a boost to Market Made-In-Nigeria Goods
The innovative YesMall platform, powered by Skye Bank has succeeded in promoting made-in-Nigeria goods produced by Small and Medium Enterprise firms and subsequently empower local entrepreneurs to reflate the national economy.
The online store, called YesMall according to the Executive Director of Skye Bank for Technology and Delivery Channels, Mrs. Markie Idowu, is a unique bundle which offers the benefits of a product on the one hand, and the opportunities of an online mall where the bank’s current and prospective SME and retail customers can buy and sell their products and services.
Launched in October 2015 to address the challenge faced by entrepreneurs in promoting their firms and products, Mrs. Idowu affirmed that “YesMall, has come in handy as a ready-made one-stop platform where local firms get to create their mini-website and advertise and get their products sold to interested buyers and receive payment for items sold seamlessly”.
Enumerating some of the benefits of the platform while hosting a delegation of Nigerian Entreprenuers’ who paid him a courtesy visit, the ED said: “Aside saving SME operators cost which would have otherwise be expended on creating a website and then advertising their products, YesMall he added, gives automatic access millions of Skye Banks customers and external prospects who logged on to the sales portal.
Small and Medium enterprises (SME) operators and other local goods producers have also begun to take advantage of the online shop to market and cross sell their products.
The bank came up with the platform after noticing that some SME operators found it difficult to sell their goods as most of the finished goods end up as items of inventory in the warehouses. Noting that e-commerce had gained ascendancy in both national and global trade, the bank’s plan is to facilitate the participation of Nigerian SME operators in the global e-commerce sales estimated at $1.5 trillion.
It is said that the potential worth of e-commerce in Nigeria is $10 billion per annum, which presents a huge opportunity for growing businesses.
