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Be Significant. Create Something. Create Solutions!!!

This is yet another great insight from Mr Marricke, urging you on to spot great business ideas within the same problems around you and making it work. Do enjoy.

Hardwork, even though a virtue, is NOT a competitive advantage anymore – expansive thinking, problem solving and spotting future opportunities before they become known to the masses – that’s the new competitive advantage. In fact, it has always been.

Every day-to-day problem around us is an opportunity to succeed whether as individuals, businesses or government – take one problem that everybody else may be experiencing, solve it – and you will become very successful – both in influence and in wealth.

That’s why Africa probably has the most opportunities for success – because we have so many problems, each of which equally represents so many opportunities.

Find an area you are most passionate about, look there for a problem that irritates you the most, set some time apart daily, dwell on it, think hard on it, evolve a solution for it, test it, refine it further, perfect it, make it available in a form accessible by many – and see how fulfilled you will be – spiritually, physically and materially.

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You see, we are created in the image of God –

GOD IS ALWAYS CREATING.

If you are NOT creating, you can never be fulfilled – whether as an individual, business or country!

Go forth, CREATE something….FORCE your mind to do what it was created to do – to bring into existence, what never was! That is how we can and collectively become gods in the earth – CREATE!!!


Author: Marricke Kofi Gane, a Ghanaian Certified Chartered Accountant, Entrepreneur and an International Development specialist. He is also a published author and a technology and economics enthusiast. A well renowned public speaker, he is well noted for deep insights into future business trends and challenging the status quo of Africa’s politics.


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ARTICLES

Source Beauty is pushing the boundaries of Egyptian e-commerce

Egyptian e-commerce

Egyptian e-commerce: the county’s digital drive has not yet gotten to the growth typically seen in European countries and North America. However, as businesses have started shifting online, customers are now following suit, resulting in the gradual development of the digital eco-system.

Innovation, such as digital marketing, is reinventing the consumers’ path to purchase. The Egyptian e-commerce market is expected to grow at a rate of 33% annually to approximately $3bn by 2022, according to Oxford Business Group.

Source Beauty and disruption

The increase in e-commerce comes from rising internet penetration rates, driven by connected and digitally savvy millennials. Several platforms, both locally and internationally, such as the direct-to-consumer beauty platform Source Beauty, have disrupted the beauty industry in the region to drive their growth by truly connecting with their customers.

By being aware of the changing consumer behaviour trends in the e-commerce landscape, service providers like Source Beauty are continually fostering customer engagement with a community they have created. The customer service team, along with the editorial and marketing teams, respond to each comment and direct message, making customers feel listened to.

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Lydia Schoonderbeek, the founder and CEO of Source Beauty, said:

Egypt has traditionally been a price-driven market. After devaluation and high inflation rates, people have become much more price sensitive. People are consuming less and are shifting away from imported products due to price, accessibility and inconsistency in supply. As a result, they’re looking for local alternatives.”

Egyptian e-commerce
Founder of Source Beauty, Lydia Schoonderbeek

In line with its digital transformation and financial inclusion agenda, the Egyptian government has set in place directives to raise the limit for electronic payments for individuals via mobile phones to EGP30,000 (USD1,905) per day, and EGP100,000 (USD6,350) per month, since March 2020. Traditionally, 70% of online purchases were cash on delivery, which has proven to be a major challenge to e-commerce growth throughout the region. This preference has changed to credit card payments, increasing to 30% from 16% due to the spread of Covid-19, but it remains to be seen whether purchasing behaviors will be affected in the long term.

The CEO of Source Beauty further added that, the company had seen substantial growth thanks to the COVID-19 global pandemic, with existing and new customers wanting to limit in-person beauty services and adhering to social distancing and mask-wearing requirements. Beauty customers, she says were changing spending habits, moving towards products that allow them to recreate the salon experience in their homes and protect them from the potential impact of an increasingly digital lifestyle. Finally, she believes they have seen customers prioritising skincare and haircare purchases over makeup.

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The question is, ‘Is anyone in Egypt going to buy beauty products online?’. Who thought people would buy books on the internet from a website called Amazon! Well, the answer seems to be YES. Consumer spending in Egypt on non-essential goods has reached EGP 3.90bn in 2020 and is set to reach 8.81bn in 2021, according to FitchSolution’s 2021 Report.

According to the Egyptian e-commerce beauty company, Source Beauty, it believes that the world is in an era where consumers are looking to associate with brands and not products, to make their beauty purchasing decisions and this is where homegrown brands like theirs will doubtlessly lead to economic growth in Egypt.

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