In Nigeria’s digital economy, trust isn’t claimed to be engineered. As inflation and rising data costs squeeze consumer spending, Collectiva CPO, Emmanuel Okonofua disclosed why bad user experience is silently draining millions from online retailers, how digitizing informal cooperative societies is unlocking formal credit, and why product design is ultimately a matter of business survival. In this exclusive interview with KENNETH ATHEKAME, Okonofua, co-founder and Chief Product Officer at Collectiva and Lead Product Designer at South Digital, spoke on why bad UX drains retail revenue, how digitizing cooperative societies unlocks formal credit, and why trust must be engineered rather than claimed. Excerpts:
Online retail in Nigeria continues to expand despite high inflation and weaker consumer spending. What is driving this resilience?
Online shopping here is a practical necessity, not a luxury. If your local shop is out of stock, market prices have doubled, or getting there requires sitting in two hours of traffic, ordering online makes immediate practical sense. When budgets tighten, consumers do not stop buying online they shift what they buy and who they buy from.
Simultaneously, payment friction has dropped significantly. Instant bank transfers now settle within seconds, and smartphone penetration is high enough that almost anyone can complete a transaction on the spot. That single shift removed our largest historical transaction barrier.
