With barely four years of operation in the Nigerian eCommerce space, Jumia, one of Nigeria’s online shopping solution companies, said eCommerce has revolutionised shopping in Nigeria, with lots of economic gains for governments at all levels.
The Chief Executive Officer of Jumia Nigeria, Mrs. Juliet Anammah who made the disclosure during a media tour of Jumia facilities in Lagos recently, said the online shopping company is ready to further deepen eCommerce in Nigeria through new initiatives that would open vista of opportunities for Nigerians.
According to her, the initiative would come as innovative partnership that would be launched in few weeks to support the development of businesses that manufacture or assemble locally. Under this new initiative, Jumia will partner and invest heavily in supporting Nigerian brands in order to help boost an ecosystem that creates local jobs and keep more profits within the Nigerian economy.
During the facility tour, the media team visited the company’s training and customer service facility in Yaba, Lagos as well as the warehouse and fulfillment centre in Ikeja, Lagos. At the warehouse, the global CEO of Jumia services, Indrek Henloo, explained the processes involved in transferring tested and approved products from vendors and sellers, through the fulfillment centres to the final consumers.
Addressing the team shortly after the facility tour, Anammah gave insight into how Jumia has steadily impacted eCommerce in Nigeria by focusing on quality service delivery, customer satisfaction, innovation and enhanced logistics.
Giving a detailed narrative of Jumia’s operation, Head of Customer Operations, Chidinma Ifepe, presented various innovative programmes and customer centered activities that have energised the Jumia brand to its present level. Ifepe explained how the team’s constant focus on improvement in customer relations grew from a level where about 60 per cent of Jumia’s customers expressed full satisfaction to the current satisfaction level of over 80 per cent.
Ifepe also revealed that the 2015 e-commerce customer service award won by Jumia was a positive industry nod, which reflected the high level of customer satisfaction achieved collectively by the entire workforce. She cited the persistent customer focus in taking company decisions, and swift handling and resolution of customer complaints as key factors behind the company’s outstanding customer service delivery.
Partner Relations Manager, Omolara Awoyemi, spoke on various payment options that have kept Jumia top of mind with online shoppers in Nigeria. She explained how innovations like cash-on-delivery, and free returns within 7days changed the face of online shopping in Nigeria.
Awoyemi stated that what drives her team and indeed the massive acceptance of the Jumia brand is the consistent pursuit of convenient and secure payment options through a secure server. She revealed other new payment options like Jumia pay- direct which is a payment plan where once authentication is done once, revealing account details subsequently becomes unnecessary. The Book on hold plan is another option where orders can be made online and then payment via Automated Teller Machine (ATM) or other payment forms can later be used to pay within an agreed space of time.
Awoyemi also explained that other issues like prompt processing of customer refunds, charge backs and card payment reversals as well as prompt resolution of issues relating to credit reversals, cash refunds and online pre-paid orders have helped to ensure maximum satisfaction and retention of Jumia customers.
Speaking on the strength of Jumia vendors, Senior Vice-President, Vendor Management, Thomas Simonet, revealed that Jumia has 12,000 registered vendors. From this list 5,000 are active. All of Jumia’s vendors receive onboarding and training as well as ongoing support on how to maximise visibility and sales.
“With Jumia, traders in one town in Nigeria can have the opportunity of showcasing their product to millions of prospective customers at no cost on the Jumia platform,” Simonet said.
E-commerce Black Friday Sales Estimated to Surge by 40% to 10.2 Billion
The 2020 holiday shopping season will be unique, as the pandemic shifted consumer behavior from retail stores to online shopping. In response, many retailers moved their services online to not miss out on this year’s profits. Atlas VPN team decided to look into how e-commerce sales are set to perform in the upcoming long weekend.
Researchers predict that the US e-commerce revenue will exceed last year’s earnings by 49.5% on Thanksgiving day, totaling $6.18 billion in revenue. Black Friday is calculated to reach $10.2 billion in sales, exceeding last years numbers by 39.4%
Rachel Welch, COO of Atlas VPN, shares her tips on how to stay safe when shopping online during the holiday season:
“Watch out for too-good-to-be-true deals from unknown sellers, as cybercriminals will also expect to turn a profit during the holiday season, even though they are not selling anything, except maybe a bag full of disappointment.”
Finally, analysis shows that on the last day of the long and full of special offers Thanksgiving weekend, consumers will go all out to bring record sales for e-commerce businesses, adding up to $12.89 billion.
To look at these five days from a wider perspective, e-commerce companies can expect to earn around 39.72% more than they did last year.
Alibaba Merchants Sell $40B in First Half Hour of Singles Day 2020, More than 2019 Event Full Sales
Singles Day 2020 was a roaring success, cementing its position as the world’s biggest shopping holiday. Sales across Alibaba’s platforms during the event totaled $74.1 billion, up from $38 billion in 2019.
According to the research data analyzed and published by Stock Apps, within the first 30 minutes of the event, the gross merchandise volume (GMV) surpassed 2019’s full-event sales, reaching $40.87 billion.
Moreover, instead of live events, Alibaba had 400 company executives and 30 celebrities hosting livestreams. Based on a study by Coresight, the Chinese livestream market is set to rack in sales worth $125 billion in 2020, compared to $63 billion in 2019. The US livestream market is a small fraction of that, valued at $5 billion.
China’s Tech Heavyweights Lose $280 Billion in Market Cap
Alibaba Singles Day 2020 dwarfed other major shopping holidays as has been the trend in previous years.
According to Practical eCommerce, Amazon Prime Day 2020 sales totaled $10.4 billion up from $7.16 billion in 2019. Cyber Monday sales in the US amounted to $7.9 billion in 2020 according to Statista. Black Friday and Thanksgiving added $9.7 billion to the figure to make $17.6 billion for the weekend.
Similarly, in 2018, Singles Day sold $30.8 billion while Prime Day sold $4.19 billion and Thanksgiving weekend got $14.2 billion.
However, the 2020 Singles Day event came in the wake of Ant Group’s suspension of a $37 billion listing. The suspension resulted in a $76 billion drop in Alibaba’s market cap, as the tech giant owns a two-thirds stake in Ant Group. Moreover, China’s regulators released anti-trust draft rules prior to the event, aimed at controlling monopolistic behavior.
Following the release, Alibaba shares plunged by 9.8%, as JD.com shed off 9.2%. Tencent similarly saw a 7.39% drop and Xiaomi fell by 8.18%. For the five companies, there was a combined loss of $280 billion in market capitalization.
Top Three PC Vendors Shipped 121.5 Million Units in 2020, Lenovo Leads with 47.1 Million Shipments
Remote working and distance learning amid the coronavirus outbreak continue increasing global demand for PCs and laptops. After a sharp fall in the first quarter of 2020, global PC shipments have grown in the last six months, despite the effects of the COVID-19 crisis.
According to data presented by Stock App, Lenovo, HP, and Dell, as the world’s three largest PC manufacturers, shipped 121.5 million units in the nine months of 2020. With 47.1 million shipments in this period, Lenovo tops the global PC vendor ranking.
More than 187 Million PCs Shipped Between January and September, a 1.6% Drop YoY
The rise in smartphone usage and the global shift from hardware to cloud solutions had been driving a downturn in global PC shipment for seven years in a row. In 2011, 365.3 million units were shipped worldwide, revealed the Gartner data. By the end of 2017, this figure dropped by almost 30% to 262.7 million.
The 2018 shortage in Intel central processing units brought a new hit for merchants’ supply chains and cut global shipments to 259.7 million that year, under 2007 levels.
In 2019, 261.2 million PCs were shipped worldwide, which was a slight increase from 2018 figures. However, the COVID-19 outbreak triggered the biggest fall in shipment since 2013, as pandemic affected supply chains.
The Gartner data showed 51.6 million PC units were shipped in the first quarter of 2020, down 12.3% from the previous year. Between April and June, the market started showing signs of recovery, with global PC shipment rising by 2.8% YoY to 64.8 million.
Consumer demand for PCs due to remote working, home entertainment, and distance learning amid an ongoing pandemic, along with the strongest US PC market growth in a decade, drove the global market momentum in the third quarter of the year. Between July and September, 71.4 million PCs were shipped worldwide, a 3.6% jump year-over-year.
Statistics show that 187.8 million PCs were shipped worldwide in the nine months of 2020, a 1.6% drop YoY.
Lenovo`s Sales Rose in 2020, HP`s Market Share Dropped Down
The Gartner data also revealed that Lenovo, as the market leader, increased its market share in 2020, despite the COVID-19 pandemic. In the fourth quarter of 2019, the Chinese tech giant had a 24.8% market share, with 17.5 million shipments worldwide.
In the third quarter of 2020, the number of shipped units jumped by 8.3% YoY to 18.3 million, while its market share rose to 25.7%.
As the second-largest PC vendor globally, HP hit a 21.6% market share in the third quarter of 2020, down from 22.8% in December last year.
The Gartner data indicate that Dell’s market share, as the third-largest PC vendor globally, dropped from 17.2% in Q4 2019 to 15.2% in Q3 2020. The US computer technology company also witnessed the most significant drop in PC shipments among the top three vendors, with the figure falling from 12.1 million in December to 10.8 million in September.
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