Jumia Nigeria has launched its Black Friday deals and offers as consumers in smaller towns and villages nationwide now have access to its shopping experiences.

The company disclosed that it is expanding e-commerce access bearing in mind that the prevalent economic downturn in the country is having its tolls on many Nigerians, especially those in rural communities.

It disclosed that the campaign will run from November 1st to November 30th, 2024 with the theme ‘No Too Calculate’.

Reiterating its commitment to creating a simpler, stress-free shopping experience for Nigerians amid economic challenges, Jumia promised to allow consumers to enjoy great savings without budgetary worries.

Disclosing that this year’s Black Friday campaign is supported by Xiaomi as the platinum partner, alongside renowned brands such as Oraimo, Nivea, Infinix, Tecno, Itel, Haier Thermocool, Binatone, Pernod Ricard, Diageo, Bacardi, Hikers, Ecoflow, Skyrun, Glamstar, Ledrop, Unilever, Macallan, LG, and others, the CEO, Jumia Nigeria, Sunil Natraj stressed that the campaign is about making e-commerce more accessible to consumers in Nigeria.

Recognising the current economic situation in the country , Natraj said Jumia has worked closely with its brand partners to offer the best possible deals to consumers during this period.

According to him, Jumia expanded its network of Pickup Stations to ensure that even more consumers, regardless of their location, can benefit from the convenience of online shopping.

Harping on the company’s priority of creating real value for both its consumers and sellers through its extensive ecosystem, the CEO said those in rural areas would easily participate in the online shopping and get their delivery seamlessly.

For the Country Manager, Xiaomi Nigeria, Xingyu Yang, everyone deserves access to the latest cutting-edge technology, noting that Jumia Black Friday is the perfect opportunity for consumers to experience Xiaomi’s nnovative products at unbeatable prices.

He said since Jumia introduced Black Friday to Nigeria in 2014, the company has continued to unlock new opportunities for both consumers and businesses, expressing confidence that Nigeria will play a pivotal role in projection that online shopping in Africa will reach $75 billion by 2025.

He added that the Black Friday campaign serves as a powerful platform for international and local brands as well as SMEs to expand their reach and boost sales.

To make the online shopping and delivery easier, Yang stated that Jumia has extended its logistics network and has partnered with hundreds of local logistics service providers that will ensure easy delivery to all corners of Nigeria, including smaller towns and rural areas.

Listed on the New York Stock Exchange (NYSE) in 2019, Jumia is the leading e-commerce company in Africa, operating in 11 countries. The Jumia platform consists of a marketplace, which connects sellers with consumers, a logistics service, which enables the shipment and delivery of packages from sellers to consumers, and a payment service, JumiaPay, which offers a safe and easy solution to facilitate online payment transactions.

The company offers goods across a broad range of categories, such as phones and electronics, home appliances, fast-moving consumer goods, fashion and beauty.

Shares of African e-commerce giant Jumia (JMIA) surged to $8.67 on Monday, a significant milestone in the company’s remarkable recovery this year.

This price represents the highest the stock traded in 2024, starting at a modest $3.36. The gain highlights investor confidence following the company’s strong Q1 2024 results.

Despite not yet achieving a unicorn valuation, Jumia’s market capitalization has climbed to an impressive $872 million.

This turnaround is primarily attributed to the company’s strategic shift under the leadership of CEO Francis Dufay, who took over in 2023.

Dufay has focused on cost-cutting measures and driving revenue growth, a departure from Jumia’s previous struggles with profitability.

In Q1 2024, Jumia reported a 70% reduction in losses, thanks to significant cuts in advertising and sales expenses. Meanwhile, the company saw an 18.5% increase in revenue.

These results are particularly noteworthy given the economic challenges in some of Jumia’s major markets, including high inflation and currency devaluation.

“The impressive Q1 results have renewed investor confidence,” said an industry analyst. “Jumia’s ability to cut costs while growing revenue in such a challenging environment is a testament to their strategic realignment.”

Dufay’s leadership has been pivotal in this transformation. He has made bold moves, including shutting down the loss-making Jumia Food vertical and relocating UAE-based executives to Jumia’s key markets.

Also, the launch of a new 30,000 square meter integrated warehouse in Lagos has enhanced Jumia’s logistics capabilities, reducing delivery times and improving customer satisfaction.

“The shift in business model and operational focus is showing positive results,” commented Dufay. “We are committed to sustaining this growth trajectory and building a robust, profitable business.”

Jumia’s stock performance has drawn positive reactions from investors, particularly given the broader economic challenges in Africa.

The company’s turnaround is seen as a promising sign, especially as competitors like Amazon begin to make inroads into the African market with their launch in South Africa.

Jumia’s initial public offering in 2019, listed on the New York Stock Exchange (NYSE) at $14.50 per share, generated significant excitement.

However, the subsequent years were marked by fluctuating share prices and ongoing struggles with profitability. The recent surge in share price reflects a renewed optimism about Jumia’s future under Dufay’s leadership.

As Jumia continues to navigate the complexities of the African e-commerce landscape, it remains focused on achieving sustainable growth and profitability. The recent stock surge is a clear indication that investors believe in the company’s potential to thrive in a competitive market.

“Jumia’s journey has been challenging, but our commitment to innovation and operational excellence is unwavering,” Dufay stated. “We are excited about the opportunities ahead and remain focused on delivering value to our shareholders and customers.”