Tuesday, April 23, 2013

JUMIA versus KONGA: When online shops do Battle!


Online Shopping in Nigeria is still a relatively new idea gently taking root. Several online shopping malls and eShopping sites have established themselves with their customers of recent, and some are already becoming household names. Jumia (which was of recent known as Kasuwa) and Konga are some of them. With the current CBN-led awareness campaign to integrate the cash-less policy in Nigeria, online shopping has been identified as the presumed biggest gainers should the scheme gain a foothold.

These two notable online stores (Jumia and Konga) have become prominent above all other players in this new segment. Their advertising campaigns on Facebook and other social media is literally off-the-hook. They have even taken a step further by using conventional media (radio and print) to gain more visibility.
They have new deals and packages almost everyday, and they have products in almost all relevant categories.  Now, while it might be easy to get lost in the sheer awesomeness of Jumia and Konga, sometimes, it is good to review both and determine which of them is actually better.

Product Diversity
Variety being the spice of life, you probably want an online store where you can get more of several products rather than a scanty limitation. Well, Jumia and Konga seem to have done a great deal of work here. In whatever category you look, you would see that they have a rich product stock. But one glaring difference between both online shops has to be the varieties that are obtainable from both shops. While Konga showcases as many goods categories as Jumia, one remarkable difference between the two would probably be in the varieties available in the latter than the former. Jumia has been able to distinguish itself in this area with an array of products in every category – from books, films, electronics, gadgets, etc.
Price Differentials
Because the real determinant for shop patronage (be it physical or online) is cost advantage over competitions, the case is not different between Jumia and Konga. On face value, both shops are noted for lower prices for goods advertised. Relying on the fact that online shops have lower over-head costs over physical ones, these online shops has the ability to sell at discounted prices. Despite this similarity, Konga has distinguished itself in the area of better marginal discount than Jumia for most of its products offerings. Majority of the offerings on Jumia are at par or higher in cost than is even obtainable in conventional shops.
Online payment
Online shopping is made easier when integrated with a robust and versatile payment platform that accommodates as many payment options as possible. A system that accepts MasterCard, Visa, Verve, PayPal, and eTranzact cards has become inevitable in operating an online store. This makes it convenient for both buyers and shops thereby increasing the propensity to make more sales and carry less cash. On this count, Konga and Jumia cannot be faulted as the payment platforms available on both sites are robust enough to accommodate all payment options available in Nigeria.
Delivery
The major determinant of a successful online shop is logistics. The speed, efficiency and effectiveness of delivery of purchased goods, is the hallmark of a serious player in this sector. While a seamless online payment platform may not be a must for online shops, a guaranteed delivery mechanism will differentiate between a good shop and a bad one. Though Jumia and Konga has developed unique logistics for delivery of purchases in Lagos and other major cities, the latter is arguable a better choice in on-time, real-time delivery (at least in Lagos).
What Konga lacks in variety of goods, they make up in speed and promptness of delivery. For a delivery that’ll probably take Jumia seven (7) working days to deliver, Konga can do in two (2).
Customer Service
Another differentiating factor in any business of course is the manner of customer relationship on offer. For a business that is less reliant on human interference, it cannot afford any less value placed on customer service. Customer service, especially for online e-commerce sites goes beyond ‘thank you for shopping with us’ slogan. The relationship with customers for online shops must then incorporate both professionalism with a personal ‘human’ touch. Calling online shoppers by name during delivery as well as confirming their acceptance of the goods they purchased, will go a long way in winning such customer for a long time. For Jumia, such practice is limited only to a slight acknowledgement of the buyer, without any real interest for a repeat purchase. During research, it was discovered that the customer care staff of Jumia actually believes they are performing a social duty rather than sales. When the same procedure was repeated with Konga, it was discovered that the staff had a better hold on customer service with courteousness and yearn for repeat business.
Value-added services
Though there may be several extra services both online shops offer to their customers, one of the most remarkable (for an online store) is that offered by Jumia that allows shoppers to ‘check-out’ without payment. The payment is then done in cash on delivery. With this strategy, shoppers without a valid e-payment option can still shop online, make purchases and have them delivered and then pay on delivery. Up until recently, Konga was not offering this service but due to pressure has started the same practice. But with the latter now combining this ‘buy-now-pay-later’ offer with their traditional speedy delivery, it’s no surprise they are still better even in value added service.
Conclusion
Jumia and Konga are spending tons of money to reach people that are not even online, while everyone enviously looks on. But looked at from another perspective, they aren’t advertising Jumia and Konga – even if they think they are. What they are actually advertising is e-commerce itself. If Jumia and Konga are spending all this money…money that the average e-commerce startup doesn’t have — to attract the attention of an offline audience …an audience that the average e-commerce startup cannot reach — some of whom might eventually wind up on other sites…because they are now online – then some thanks are in order.
But of importance has to be the terms and conditions these online shops have. Without much legal backing for online purchases in the Nigerian law books, it is then imperative that the proponents of this business should focus efforts in protecting the overall interests of the shoppers than making easy money.  

Friday, April 19, 2013

Signal Alliance Rated In Top 50 Fastest Growing Companies


AllWorld Network in partnership with The Tony Elumelu Foundation has listed Signal Alliance among top 50 fastest growing (non-listed) companies in Nigeria termed “Nigeria50”. The Nigeria50 is a ranking of 50 of the fastest growing private (non-listed) companies in Nigeria. The Awardees broke AllWorld records, with each company growing at an average 100% a year on revenues of $9 million USD, and as a group they have created 6,600 jobs, and if they continue growing, will create thousands more in the next few years.
Companies were invited to compete for a spot on the Nigeria50, and those with the fastest revenue growth between 2009 and 2011 made the inaugural ranking. Thousands of emails were sent to companies around the country inviting them to apply. Each company had to provide audited statements to confirm their revenues and each applicant’s business practices and ethics were strenuously vetted by AllWorld. The fastest growing and most transparent became the Nigeria50.
The inaugural winners were announced worldwide at the Nigeria50 Awards & Summit in Lagos in front of an audience of 350 entrepreneurs and business and government leaders including The Honorable Minister of Trade and Investment, Olusegun Aganga; Tony O. Elumelu C.O.N., Chairman of Heirs Holdings and Michael Porter the world-renowned Harvard Business School Professor and Chairman of AllWorld Network.
Signal Alliance Ltd. realizes that the strength of its business stems from the strength of the local Nigerian talent. Says Collins Onuegbu, CEO of Signal Alliance “This award belongs to our people who have committed themselves to building a company that we are all proud of. We will continue to invest in local talent and continue our philosophy of providing the best education for staff that show capacity to learn. This is important to keep the company growing year to year as the industry we play in constantly evolves.”
Commenting on the success of the winners at the Awards Ceremony, AllWorld co-founders Deirdre Coyle and Anne Habiby urged country leaders to champion the initiative. “With the right support, the Nigeria50 will send a signal far and wide that the country is open for business and will energize thousands, if not millions, to work for or become entrepreneurs. The award winners can become the country's new force for competitiveness, economic innovation and employment.”
The winners were in Lagos for the two-day Nigeria50 Awards & Summit from March 21-22. The Summit was an action packed two days featuring the Nigeria50 along with prominent speakers, panel discussions, networking sessions, and Nigeria50 Awards Event. Over 150 representatives from the winning companies were in attendance and close to 200 VIPs and influencers.

Thursday, April 18, 2013

Jobberman Launches its Android Mobile App


Nigeria-based jobs website with a large catalogue of Jobs, Jobberman, has launched her Android App. The Android app which makes it easy for job seekers to browse through; search and apply for jobs; update their Jobberman profile and do all they can without using a PC has already gained momentum in the number of downloads it has so far gotten.
According to the statement made available to TBR, the Jobberman Android App which was launched on the 8th of April 2013 is already in use and has proven to be a successful application, having great features requiring little or no need to visit the website on a PC. The features include the Browse Jobs, Latest Jobs, and Applied Jobs tabs. It also has an inbuilt RSS feed tab syncing career advice unto the app coupled with its sleek interface for easy navigation.
With the Jobberman Android App, users can get fresh and constant update on the latest jobs on the website just as they are posted. This intuitive and well-designed app makes it easy for users to keep an eye on the jobs they want, as they can either search by Industry or by Career Specialization.
Prior to the Android Launch, Jobberman launched its Blackberry App, thereby keeping Blackberry users abreast with the latest jobs which has gone a long way in satisfying a lot of users’ search needs.
The Jobberman Android App, can be downloaded on: goo.gl/7KtOb
Opeyemi Awoyemi, the CoFounder and SVP of Products at Jobberman, stated that Jobberman is a lifestyle company using technology and harnessing the power of the internet to bridge the gap between job seekers and job opportunities in Nigeria, saying that people should watch out for more Jobberman apps coming. Jobberman is the largest Jobs board with the highest number of jobs in Nigeria. Its headquarters is located in Lekki, Lagos.
However, the market is still awaiting a Windows Phone app from Jobberman, going by the current buzz being created with the version 8 edition from Microsoft.

MTN’s Potential Exit from Nigeria: Examining the Impact of the Proposed 5% Telecom Tax

MTN Nigeria, the largest telecom provider in the country, has hinted at the possibility of exiting the Nigerian market should a proposed 5% ...