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Shopkite Reels Out Benefits of Inventory App

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Shopkite Merchant has said that its new mobile app will allow neighbourhood stores to manage their retail outlets and keep track of daily inventory in the easiest way possible.

The Co-founder, Mr Damola Ogubambo, in a statement on Thursday, noted that the mobile app would allow users to do related paper works.

“If you randomly ask a merchant (or retailer) what the total worth of their products are, they are very likely not to be able to answer. With Shopkite Merchant, however, this is possible in a split second. Just like you can check your account balance through your banking app, merchants can check the ‘account balance’ of their store through the Shopkite Merchant mobile app,” the company stated.

Other features of the app include tracking and monitoring sales and other store activities from anywhere; getting reminders of low stock and expiry dates; scanning product barcodes and printing receipts wirelessly for customers without electricity; and managing multiple branches or stores from one place, the company explained.

The statement read in part, “As a merchant or store owner, you most likely won’t be at your store all the time. In periods like this, you are probably reaching out via phone calls to check on your sales agent about happenings in the store. This is over with Shopkite Merchant. Just like you get notifications when someone sends you a WhatsApp message, you will get notified of every activity happening in your store.

“With Shopkite Merchant, you get to scan product barcodes and print receipts instantly for your customers with your phone and a portable Bluetooth-powered rechargeable mobile printer.”

According to Shopkite, “Merchants who have branches can get to manage all their stores easily with the Shopkite Merchant inventory management app.

These were just a few of the numerous benefits that Shopkite Merchant mobile app could offer, the company added.

 

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

E-commerce

Konga Health Debuts June 2021

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Konga Health, a highly anticipated digital health care distribution subsidiary of Nigeria’s leading e-Commerce giant, Konga is set to go live by June 2021. 

The tech-driven health care company is expected to expand access to quality Medicare for millions and revolutionize the health care value chain in Nigeria.

Feelers from a reliable source indicate that the management of Konga has secured all pending statutory approvals for the formal launch of the company. Further, the source disclosed that the management of Konga has been testing its robust technology, nationwide logistics; as well as its payment platforms in partnership with local and international players in the sector; ahead of the rollout in order to achieve a seamless experience from launch.

Konga Health will expectedly provide huge employment opportunities for medical professionals and other Nigerians.

Meanwhile, the expected debut of Konga Health has also been confirmed by a confidential source at Konga.

The source, who spoke on the condition of anonymity, revealed that the startup will radically improve the speed at which quality drugs are delivered nationwide to pharmacies, hospitals and other health services providers; while also boosting structured last mile delivery to patients and other end-users across Nigeria.

In addition, he disclosed that Konga Health will power an unprecedented level of digital health democracy in Nigeria; adding that the company may possibly launch a globally rated blood bank across the six geo-political regions in Nigeria; using cloud-based digital sensors to monitor secure cold rooms in its facilities.

‘‘I can assure you that it is an ambitious project which serious local and international donor agencies; government at all levels, the public sector and corporate organizations will leverage to deliver quality health programs; backed by reliable data at the least cost to the remotest villages,’’ the source stated.

Konga Health was initially due for launch in September 2019.

However, the management of Konga had pushed back the rollout due to delays encountered with approvals from statutory bodies.

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China Fines Alibaba Record $2.8 Billion After Monopoly Probe

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China slapped a record $2.8 billion fine on Alibaba Group Holding Ltd. after an anti-monopoly probe found it abused its market dominance, as Beijing clamps down on its internet giants.

The 18.2 billion yuan penalty is triple the previous high of almost $1 billion that U.S. chipmaker Qualcomm Inc. had to pay in 2015, and was based on 4% of Alibaba’s 2019 domestic revenue, according to China’s antitrust watchdog. The company will also have to initiate “comprehensive rectifications,” from protecting merchants and customers to strengthening internal controls, the agency said in a statement on Saturday.

The fine — about 12% of Alibaba’s fiscal 2020 net income — helps remove some of the uncertainty that’s hung over China’s second-largest corporation. But Beijing remains intent on reining in its internet and fintech giants and is said to be scrutinizing other parts of billionaire founder Jack Ma’s empire, including Ant Group Co.’s consumer-lending businesses and Alibaba’s extensive media holdings.

Alibaba used its platform rules and technical methods like data and algorithms “to maintain and strengthen its own market power and obtain improper competitive advantage,” the State Administration for Market Regulation concluded in its investigation. The company will likely have to change a raft of practices, like merchant exclusivity, which critics say helped it become China’s largest e-commerce operation.

“The high fine puts the regulator in the media spotlight and sends a strong signal to the tech sector that such types of exclusionary conduct will no longer be tolerated,” said Angela Zhang, author of “Chinese Antitrust Exceptionalism” and director of Centre for Chinese Law at the University of Hong Kong. “It’s a stone that kills two birds.”

Alibaba’s practice of imposing a “pick one from two” choice on merchants “shuts out and restricts competition“ in the domestic online retail market, according to the statement.

The government action sends a clear warning to the tech sector as the government scrutinizes the influence that companies like Alibaba and social media giant Tencent Holdings Ltd. wield over spheres from consumer data to mergers and acquisitions.

The investigation into Alibaba was one of the opening salvos in a campaign seemingly designed to curb the power of China’s internet leaders and their billionaire founders. The company has come under mounting pressure from authorities since Ma spoke out against China’s regulatory approach to the finance sector in October. Those comments set in motion an unprecedented regulatory offensive, including scuttling Ant Group Co.’s $35 billion initial public offering.

Alibaba said it will hold a conference call Monday morning Hong Kong time to address lingering questions around the antitrust watchdog’s decree.

“China’s record fine on Alibaba may lift the regulatory overhang that has weighed on the company since the start of an anti-monopoly probe in late December,” Bloomberg Intelligence analysts Vey-Sern Ling and Tiffany Tam said, describing the fine as a small price to pay to do away with that uncertainty.”

Further Action

Still, it remains unclear whether the watchdog or other agencies might demand further action. Regulators are said for instance to be concerned about Alibaba’s ability to sway public discourse and want the company to sell some of its media assets, including the South China Morning Post, Hong Kong’s leading English-language newspaper.

The Hangzhou-based firm will be required to implement “comprehensive rectifications,” including strengthening internal controls, upholding fair competition, and protecting businesses on its platform and consumers’ rights, the regulator said. It will need to submit reports on self-regulation to the authority for three consecutive years.

“Alibaba accepts the penalty with sincerity and will ensure its compliance with determination. To serve its responsibility to society, Alibaba will operate in accordance with the law with utmost diligence, continue to strengthen its compliance systems and build on growth through innovation,” the company said in a statement on Saturday.

Faced Challenges

Chief Executive Officer Daniel Zhang said in a memo to employees on Saturday that Alibaba always reflected and adapted when it faced challenges. He called for unity among staff, saying the company should “make self-adjustments and start over again.”

The Communist Party-run People’s Daily newspaper said in a commentary on Saturday that the punishment involves specific anti-monopoly measures regulatory authorities take to “prevent the disorderly expansion of capital.”

“It doesn’t mean denying the significant role of platform economy in overall economic and social development, and doesn’t signal a shift of attitude in terms of the country’s support to the platform economy,” the newspaper said. “Regulations are for better development, and ‘reining in’ is also a kind of love.”

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Konga Gives Free Bluetooth Headset in a Fresh Promo

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Konga, a leading e-commerce company in Nigeria, has commenced a fresh promo tagged #AO2Promo for every Samsung Galaxy AO2 ordered.

Self-acclaimed Nigeria’s largest online mall said customers that ordered Samsung Galaxy AO2 on Kong will receive a free Bluetooth headset.

What are you waiting for? FREE BLUETOOTH HEADSET is set for you.

“Just order your Samsung Galaxy A02 today on Konga & get a free Bluetooth Headset,” the company stated in a tweet.

In March, the e-commerce company announced Battle of the Brands to treat shoppers to the biggest deals and offers from top brands dominating segments.

Speaking on Battle of the Brands, Kenny Oriola, Vice President, Konga Online, said “Battle of the Brands is a time to decide who the best brands offering the biggest deals in the market are. Our customers have long waited for this campaign and many of them have expressed huge anticipation to see what each brand has to offer. As a top brand, you certainly do not want to disappoint your loyal customers.

“This is the time to show off the biggest deals and best offers as that is what shoppers are looking forward to. As a globally-renowned brand, you deserve to be seen on Battle of the Brands. We expect to see shoppers treated to a number of exclusive offers, mouth-watering deals, huge price slashes or even new products from the brands we have lined up for this campaign. Therefore, we are putting all our assets at the disposal of these brands in order to ensure that potential shoppers are satisfied,’’ he stated.

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