Tech industries around the world are focusing their attention towards making online marketplaces safer for its consumers in a big to protect consumer rights and increase online shopping figures. Making Digital Marketplaces Fairer is Consumer International’s theme for 2018 for recognizing challenges faced by consumers in the relatively new online market that isn’t subject to geographical boundaries and physical borders and helps in making the world a global village.
The Growth of the Online Economy
According to a recent research, around 12 percent of the total global commercial transactions take place via the internet. These transactions take place domestically or internationally with multiple currencies involved in them but little or no contact between the buyer and seller. According to Babatunde Irukera, director general, Consumer Protection Council, 67 percent consumers between 18 – 40 years of age shop online, which signifies a steep increase in online commercial activity in Nigeria. By enabling tight online marketplace security, Nigerians can play Nairabet without fearing being exploited and looted. They can play their favorite casino games easily, and all they would need is a smart device and a good working internet connection, to start their journey.
Why Do You Need Safer Marketplaces?
It’s not just the experience of buying online that is itself under threat. Instead, since you use everything from your personal details to important information like your credit card numbers, it is important that your online activities are safe and secure.
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Truth be told, the definition of a market has undergone a major change in the past couple decades and is a lot more than just a geographically defined commercial activity. And because of that, marketplace security has become a primary concern.
What are the Problems You Need to be Wary About?
Some of the common problems faced by consumers while shopping online are unfair trade practices, misleading advertisement, substandard products, outright frauds and services, lack of redressal, and exploitation but the Nigerian government has been working towards protecting the consumers in conventional markets.
Consumer Protection regulators have upped their game and are trying their best to protect consumers using the current laws and regulations until new ones are formed.
Some of the online organized formal merchants have started their own consumer protection models so that consumers are confident while shopping from their online stores. These protection protocols aren’t monitored by the Nigerian government.
The Other Problems That You Need to Keep in Mind Too
However, consumers aren’t only facing marketplace problems but there are some widespread internet issues as well. One of the primary one is lack of fair access to the internet and even though it is becoming an essential commodity in developed countries, developing countries like Nigeria are still struggling to get access to it.
In Nigeria, the problem is so critical that people don’t have online access to financial services, governance, and utilities. It is absolutely essential that every Nigerian should get equal access to the internet, which is safe to use and affordable as well. The government should work towards increasing trust of its citizens in e-transactions.
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