Ben Uzor Jr
The constant growth of the formal retail sector in
Nigeria, along with rising internet penetration in the country, is driving the
expansion of online retailing. By global standards, the electronic commerce
market in Nigeria is undersized, but figures of online sales have shown a
steady increase over the last five years, as the one-time nervousness of
Nigerian shoppers takes a backseat and a growing number of techno savvy
consumers turn to the cyberspace for retail therapy and bargain hunting. This
retail trend, according to a recent report by Euromonitor International, a
global market research organisation, recorded a 25 percent growth in 2011
valued at N62.4billion, which is an additional N12.5billion to the N49.9billion
recorded in 2010.
Pushing this retail segment most is online retailing,
which recorded 25 percent growth during the period under review, while other
non-store methods like direct selling and vending trailed behind. Foreign
investors already see the opportunity in this market segment, as government and
stakeholders in the internet access market step up investment in strengthening
broadband internet infrastructure in the country. Investors see the opportunity
and are already developing online retailing platforms selling a variety of
items including books, mobile phones, electronics, toys and beauty products. There
are host of online retail platforms such as DealDey, Tafoo Deals. Analysts
expect heated competition in no distant time as stakeholders jostle to expand
the scope of the market.
Only recently, a new online shopping destination was
added to the growing list of online retail outlets were people can shop. The
website is called Kasuwa.com. The website, however which is a venture from
German commerce giant, Rocket Internet. Kasuwa.com, an online retailer in
Nigeria announced, weekend that it has rebranded. It will begin operating under
the new trade name JUMIA effective immediately to become part of the largest
online stores across the African continent. Speaking about the reason for
rebranding so soon after the initial launch, co-founder Tunde Kehinde said, “It
has become necessary to accelerate growth and integrate more seamlessly with
the rest of Africa, the new JUMIA is larger and better equipped to fulfill the
growing demand for online shopping in Nigeria. The rebrand is the outcome of
the overwhelming response to the online shop’s offerings in Nigeria.
We have since the launch, received and fulfilled
thousands of orders and expect to have sold significantly higher number of
items by end of the year.” At JUMIA.com, Nigerians can expect the latest mobile
phones, laptops, electronics and home appliances. Additionally, there are over
20,000 book titles and an extensive catalogue of beauty, hair, baby and children’s
products. JUMIA plans to soon add more categories to its wide selection,
including fashion, shoes and accessories. JUMIA is indeed the largest general
retailer of consumer goods online. “Being part of the largest online store in
Africa, will allow us to better leverage our network to provide a wider
selection of brands and products. Customers will also experience even better
prices.
“We guarantee that customers will enjoy improved customer
service and more value added features that will improve their shopping
experience.” said co-founder Raphael Afaedor. To celebrate it’s launch, JUMIA
is offering free delivery anywhere in the country and sponsoring a giveaway
competition where customers who fill out their birthdays in their free accounts
stand a chance to win a Samsung Galaxy S3. All the information for the
competition is available on the new JUMIA website www.JUMIA.com.ng and on the
Facebook Page www.facebook.com/JUMIA Nigeria.
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