Jumia | Best New Retail Store Launch in 2014

Jumia | Best New Retail Store Launch in 2014

JUMIA is an African online shopping website where individuals can browse and purchase a wide range of fashion, electronics, home appliances, childeren’s items and much more.

The business was established in 2012 by CEOs and Co-founders, Sacha Poignonnec and Jeremy Hodara with financing from Rocket Internet.

They currently have offices in Egypt and Nigeria.

From Lofty Aspirations

In 2012, Sacha Poignonnec and Jeremy Hodara established and launched JUMIA, an e-commerce startup company.

Its purpose is to springboard from  Amazon’s success by supplying a wide range of products, from gadgets to generators all over Africa.

Immediately after the start-up of the business, JUMIA received $35 million in Series B funding from Millicom to make contributions towards it development in its home market and the move into a new 90,000 square foot warehouse based in Lagos.

JUMIA completed a great year in 2013 by receiving the title of the Best New Retail store Launch.

In 2014, Jumia expanded its products and services to Uganda making it possible for people to shop online and have goods delivered to their region.Jumia

The African Amazon Store

Jumia is one of Africa’s largest online shopping mall and it currently operates in Nigeria, Egypt, Ivory Coast, Kenya and Morocco as an “African Amazon.”

In March 2013 it obtained a $26 million investment from Summit Colleagues, which it used to extend business to additional  African countries.

Jumia’s most famous competitors are Souq in Egypt and Konga in Nigeria. In the two countries, all the three online retailers remain competitive for online buyers through targeted marketing and competitive prices.

This brought about the release of price aggregators such as Yaoota.com to guide buyers through the growing number of online products.

The Partnership Heading to Growth

In October 2012, Jumia declared its partnership with Mobinil the Egyptian organization for mobile products and services. The partnership deal between Mobinil and JUMIA Egypt comprises of four major rules which include:

  • Mobinil supply JUMIA offices and staff with the most recent mobile technology solutions, precisely tailored for their business requirements
  • JUMIA supply Mobinil with products and services to each of the 140 retail shops spread all over Egypt
  • JUMIA offer products of telecom and Mobinil products to their buyers (i.e. Broadband connectivity devices,smartphones, Voice/Data lines and connectivity data bundles)
  • JUMIA provide special rewards for Mobinil buyers through the use of a loyalty system

On 26 August 2013, Jumia released a mobile app in Morocco, Ivory Coast, Nigeria and Kenya that made it possible for buyers to make purchases virtually anywhere where internet service is accessible.

The mobile app provides a selection of 50,000 products and services.

Categories: Startups

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