The boom in African Ecommerce is just at its beginning. The total online sales in the continent is projected to grow at a rapid rate in the upcoming ten years owing to the growth in population as well as increased Purchasing Power Parity (PPP) of the people. Jumia, the leading online marketplace in Africa, is revolutionising the Ecommerce industry of the continent as such. Being founded by Germany’s Rocket Internet in 2013, Jumia has its headquarters in Lagos in Nigeria. The objective of the company laid down by the duo- Jeremy Hodara and Sacha Poignonnec is to create a digitally connected Africa that enables first-grade online commerce across the globe. With a present headcount of 3000 employees, Jumia is making its presence felt across 23 African countries by trying to become the best and the biggest retailer- online and offline.
An Insight into African Demographics
Africa comprises 15% of the total population in the world with nearly one billion people. The ‘medium projections’ by the United Nations hint at a population rise of 1.6 billion by 2030 and 2.7 billion by 2050 (that will account for more than a quarter of the total population in the world). This can be associated with massive urbanisation, widespread employment opportunities and higher disposable income by the masses that is congenial for growth of Ecommerce industry in the continent. As such, Jumia having started from a low-key, has by now established itself as the ‘Amazon of Africa’ in a matter of just 3 years.
What is special about Jumia?
Jumia, at the vanguard of Ecommerce in Africa, is based on a business model that takes the challenges faced by the continent into account. The reasons why Jumia stands out as one of the best international online marketplaces for sellers worldwide can be listed as following:
- Africa’s first ‘Unicorn’: Jumia is Africa’s first ‘Unicorn’ being the sole tech-venture that is bubbling to the billion-dollar demarcation. It is a highly substantive and symbolic marketplace. With a lot of in-depth knowledge about the local markets, Jumia has established its foothold in Africa like none of its competitors.
- Total market value: With nearly $326 million funding by investors like Goldman Sachs, MTN and AXA, Jumia has affirmed $1 billion as its current market value.
- Outreach: The marketplace has an extensive reach across 23 nations. It mainly operates in countries like Algeria, Cameroon, Angola, Ethiopia, Ivory Coast, Ghana, Nigeria, Kenya, Morocco, Tanzania, Senegal, Zamibia, Uganda and so on.
- Closest Competitors: If Jumia’s immediate competition in Africa needs to be studied, Konga, Kilimall, Rupu etc. are the names worth mentioning. Though these marketplaces may be smaller than Jumia in market value, the outreach is almost the same.
- Visibility: Nearly 4,500,000+ monthly visits are accounted on Jumia’s official website. This itself depicts the undeniable visibility that the platform has to its name and why sellers wish to be an active part of this platform.
- Large Product Chest: Jumia offers a large variety of product categories in its catalogue that customers can conveniently choose from. The best-selling product categories are Electronics, Clothing, Jewelleries, Accessories, Health & Beauty and others.
- Digital Penetration: A noteworthy 1,300,000+ mobile apps of the site have been downloaded so far. Also, a fan following of nearly 1,300,000+ people on social media re-establishes the widespread popularity of the platform.
- Satisfied Customers: 9 out of every 10 customers using Jumia report to be satisfied accessing the platform and the products that are outsourced. More the number of happier customers, higher the chances of product sales and net profitability for sellers.
Getting started on Jumia
Going live on one of the world’s most acclaimed and demanding marketplaces like Jumia is not as easy as it may sound. Eunimart, a leading international Ecommerce aggregator can assist in getting onboarded and selling immaculately on the marketplace. Cross-Border Ecommerce never seemed so seamless before!