• About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV
Sunday, July 3, 2022
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
No Result
View All Result

#CitiBusinessFestival: Winning with e-commerce; five critical pillars for businesses

Nii Larte LarteybyNii Larte Lartey
June 3, 2021
Reading Time: 2 mins read
ShareShareShareShare

Businesses seeking to make giant strides must leverage e-commerce in their mode of operations.

However, doing e-commerce the right way requires at least some ‘key pillars’ according to players in the electronic trading space.

“It is important that as a people or country, in order to be competitive in the world as a whole, we need to embrace some of these trends and maximize them as much as we can, so we reap the benefits”, Chief Enablement and Information Officer at Absa Bank, Ebo Richardson has advised.

Mr. Richardson gave this counsel during the on-air series of the ongoing Citi Business Festival on Thursday, June 3, 2021’s edition of the Citi Breakfast Show.

His discussion centered on “The Cashless Economy; What IT means for businesses/commerce“.

For businesses to enjoy the competitive advantage of e-commerce, Mr. Rirchardson proposed the following as “pillars” for effective digital and online transactions:

1. Culture:  Culture represents a change and every change needs to be properly managed. There are cultural elements and nuances that you need to ensure come into play in order to get the maximum outcome. But there are the internal and external cultural aspects of embracing this new trend.

2. Web presence:  This is a broader term for business websites and the activities done on the internet. It is a key thing and all organizations must have it. Beyond that, there is also the explosion of social media and there are a lot of powerful ways multimedia tools can be utilized.

3. Marketing:  Businesses can’t forget about marketing and doing it poorly is at their own peril. People need to know what firms are selling and the benefits that come with it. People buy needs, and so there is the need to use the marketing machinery to connect to those needs and that is where an emotional connection and sales are made.

4. Payment structure:  There must be a mechanism that drives the exchange of monetary value for the goods. The payment structure must be one of the strategies; looking at the options or payment channels you are giving your customers. It is also important to do insurance because when doing this kind of online payment, security is key, so when something goes wrong, insurance can then take care of it.

5. Packaging and Shipping: Because goods are being shipped to the buyer, the packaging must be attractive, presentable, and solid with the right seals to prevent interference and damage. The shipping must also be guaranteed.

The first week of the 2021 Citi Business Festival, is focusing on the digital economy – Building a cashless society and the opportunities for business and job creation.

There will also be virtual business fora live on Citi TV every Tuesday from 11:00 am to 1:00 pm. The radio on-air series is themed to correspond with the various virtual forums at 9:20 am every weekday.

The Citi Business Festival is sponsored by Absa Bank with support from IT Consortium and Ghana Investment Promotion Centre (GIPC).

It is also powered by Citi FM, Citi TV, and Ghana’s most comprehensive business news website, www.citibusinessnews.com.

ShareTweetSendSend
Previous Post

Citi Breakfast Show, Thursday, 3rd June 2021

Next Post

Akufo-Addo’s brother sues Bobbie Ansah, Class Media for defamation, demands GHS10M

Related Posts

General

HFFG trains youth in data collection towards ending TB in Ghana

July 3, 2022
Top Stories

ECOWAS to elect new Chairman to take over from Akufo-Addo today

July 3, 2022
General

22 girls to receive data analytics training under Excel Our Girls project

July 3, 2022
Top Stories

We’ll refund monies to Muslims we couldn’t fly to Mecca – Hajj board

July 3, 2022
Top Stories

Resignation calls: Ofori-Atta has been creative; needs to be supported – Gabby Otchere-Darko

July 3, 2022
Top Stories

Ofori-Atta’s adamancy cause of Ghana’s late IMF talks – Terkper

July 3, 2022
Next Post
Edward Akufo-Addo

Akufo-Addo's brother sues Bobbie Ansah, Class Media for defamation, demands GHS10M

TOP STORIES

ECOWAS to elect new Chairman to take over from Akufo-Addo today

July 3, 2022

We’ll refund monies to Muslims we couldn’t fly to Mecca – Hajj board

July 3, 2022

Resignation calls: Ofori-Atta has been creative; needs to be supported – Gabby Otchere-Darko

July 3, 2022
Load More
ADVERTISEMENT
Citinewsroom – Comprehensive News in Ghana

CitiNewsroom.com is Ghana's leading news website that delivers high quality innovative, alternative news that challenges the status quo.

Archives

Download App

Download

Download

  • About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV

© 2021 All Rights Reserved Citi Newsroom.

No Result
View All Result
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos

© 2021 All Rights Reserved Citi Newsroom.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT