- Brands Can Now Advertise on Jumia’s Platforms
Nigeria’s leading e-commerce platform, Jumia, has opened up its e-commerce platform to brands and corporate organisations to advertise.
The company’s Head of Growth & Partnerships, Olusegun Martins who made the disclosure recently during an exclusive interview with MARKETING EDGE, said: “Our platform is one of the most visited in Nigeria and Africa. We are in 12 countries of Africa, and in each country, we serve consumers absolutely everywhere. We are much more than “e-commerce”, we have hotels, flights, restaurants, classifieds portals, and many more platforms, which give us even more data and more ability to target the right audience for brands looking to reach a wider and more targeted audience.”
In 2018, page views on the Jumia website reached over 700 million, but now averaging over 90 million views per month.
“We have bespoke solutions for various needs. We can help brands build awareness, consideration, engagement, sales, even multiple products to tap into. We can segment users in a very unique way based on their real shopping interest at the most granular level. We help brands to target users geographically in the most effective way. We have run very successful campaigns in multiple countries and advertisers who choose Jumia can decide to allocate recurring budgets to our platform,” Martins continued.
Martins further disclosed that Jumia digital advertising platform is growing very fast. Every day, more users access Jumia and use it as a source of research, inspiration and shopping. “No other platform is growing faster,” he said.
Its campaign reporting tools are objective and independent. Jumia is adapting the model of the leading e-commerce platform in the US, Amazon.
“We have an online shopping audience. Amazon Advertising is growing very fast because brands and advertisers see it as a great alternative for other advertising channels, “he added.
Martins informed that the decision by Jumia to veer into the advertising business space arose out of the popular demand by various customers of the company who had long been yearning to have an advertising platform owned by Jumia to expose their services and brands.
According to him, over the last seven years, Jumia had remained one of the top 10 most visible websites in Nigeria, adding that the clamour by customers for an advertising platform from Jumia was on the increase, hence the decision by the company to give it a try this year.
“We decided to open our platform starting from last month (October). There is a huge opportunity for brands to showcase their services and products to our audience and that is why we opened our platform. The way we want the brands to look at it is to think of Jumia as a search engine. The perception is that people come to Jumia to buy only. This is not entirely the case. A large chunk of people that come to Jumia come to make informed decisions; at that point when they are searching, their minds are receptive to whatever communication is available. So, people need to look at Jumia as a search engine,” Martins said.
Throwing further light on who are the target audience for the new advertising platform, the Jumia boss observed that every brand that aims to reach Nigerians was a possible target.
According to him, Jumia has already established a close working relationship with a few strategic agencies who have indicated long term interests in partnering with the company over the new advertising platform.
Martins continued: “We have always made it possible for sellers on Jumia to be able to advertise and all our vendors know this. But over the last couple of years, we have been getting inquiries from banks, insurance companies, telcos and different sectors of brands who don’t necessarily sell on Jumia but are interested in reaching their targets by placing an Ad on our platform.
We want to enable brands to reach out to people we call “quality audience” because the people that are coming to shop on Jumia are not just there to look around. They are at an advanced stage of the purchase funnel. They are in an active mode of purchase and at that point in time, they are receptive to communication.”
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.
FinTech Investments in Q3 2020 Drop by 16% Quarter-over-Quarter to $12.15 Billion
The total value of fintech investments worldwide fell by 16% quarter-over-quarter (QoQ) to $12.15 billion in Q3 2020. However, deal volume grew by 26% to 716 deals.
According to the research data analyzed and published by Comprar Acciones, the United States accounted for 64.7% of the total deal value, with 340 deals worth $7.85 billion.
Also, there were 25 mega-rounds during the period, accounting for 60% of the total funding value. Compared to Q2 2020, the total mega-rounds value increased by 64% to $6.4 billion, as non-mega rounds fell by 16%.
Payment Industry Deals Soar by 41% to $6.22B as InsurTech Grows by 63% to $2.5B
Payment industry deals took center stage, totaling $6.22 billion according to Global Data, marking a 41.9% QoQ increase.
The top five deals in the segment accounted for 58.4% of the total. Klarna bank had the highest raise, at $650 million at a post-money valuation of $10.65 billion. It made it the highest valued private fintech in Europe and the fourth highest globally.
Klarna, which is a buy now, pay later app, had 12 million monthly active users and 55,000 daily downloads. In H1 2020, its global transaction volume shot up by 44% YoY to $22 billion as revenue soared by 36% YoY to $466 million.
On the other hand, the insurtech sector raised $2.5 billion globally across 104 deals according to Willis Tower Watson. It marked a 63% increase in funding value and a 41% growth in deal volume. The number of mega-round deals in the segment increased by 50% QoQ.
Six mega-rounds drove 69% of the total insurtech funding. Top on the list was Bright Health with $500 million and another $500 million by Ki. Early stage companies in the sector grew by 57% QoQ during the period, compared to a record low of 42% in Q2 2020.
Alibaba Merchants Sell $40B in First Half Hour of Singles Day 2020, More than 2019 Event Full Sales
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