In order to address operational inefficiencies, profitability pressures, and growth constraints as companies adapt to shifting consumer expectations and economic conditions, Interswitch has brought together stakeholders in Nigeria’s retail sector.
“The Modern Retail Playbook: What Works, What’s Changing, What’s Next?” was the theme of the company’s Retail Summit, which brought together business leaders to talk about doable tactics for increasing productivity and expanding operations, according to a statement.
The industry’s ongoing problems, such as payment inefficiencies, margin pressures, and changing consumer behaviour, were the main topics of discussion. In order to promote long-term growth, participants emphasised the need for inclusive financial systems, better infrastructure, and enabling policies. They also called for increased cooperation between the public and private sectors.
Osasere Atohenghe, Vice President of Sales and Account Management at Interswitch, spoke at the event and stated that the summit’s goals were to promote cooperation and offer answers to common industry problems.
The retail sector is going through a pivotal period as customer expectations are changing at a never-before-seen rate. Customers of today demand seamless experiences at all touchpoints—digital and physical—as well as speed, dependability, and security.
“At Interswitch, we see this as an opportunity to bring stakeholders together to move beyond identifying challenges, towards sharing practical insights and collaborating on solutions that can drive real impact across the ecosystem,” stated Atohenghe.
Chidi Okoro, a founder and executive business consultant and faculty member at Lagos Business School, gave the keynote address and emphasised the importance of innovation in the industry, especially as digital and physical retail channels merge.
“The retail ecosystem needs to change intentionally. Digital and physical retail channels are clearly merging, and companies need to purposefully create models that take this into account. It’s about improving data utilisation, bolstering inventory intelligence, and facilitating easy customer access. Crucially, innovation necessitates consistent investment in systems, resources, and capability; it does not occur in a vacuum,” he stated.
Olawale Akanbi, Group Head of Growth Marketing at Interswitch, stated that how companies apply the forum’s insights will determine the discussions’ impact.
“What we have witnessed today is more than just discussion; it shows a common dedication to advancing the retail sector. What follows will determine the true impact: how companies improve their tactics, implement new technologies, and form alliances that spur expansion.
He stated, “At Interswitch, we remain dedicated to supporting this journey by enabling solutions that improve efficiency, enhance customer experiences, and unlock new opportunities.”
David Emeh, Head of Business Development, West Africa, NIQ, emphasised the need for more investment throughout the retail value chain from the standpoint of market intelligence.
Increased investment is needed at every stage of the retail value chain, including inventory systems, customer data infrastructure, payment processing and collections, and retail financing. In order to support deeper customer insights, enhance decision-making, and ultimately boost efficiency and profitability, retailers must have access to structured data, he stated.
The summit also looked at how integrated payment solutions can improve revenue retention, streamline reconciliation procedures, and lower checkout friction.
While Interswitch demonstrated technology-driven tools targeted at enhancing transaction efficiency, optimising operations, and bolstering retail performance, participants participated in sessions centred on realistic solutions to actual business challenges.
Additionally, the event gave stakeholders and solution providers a forum to interact, with an emphasis on forming alliances throughout the retail value chain.
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