AFTER achieving 75 per cent coverage of the Lagos Internet market in just two years of operation, Gloo.ng, one of Nigeria's fastest growing online supermarkets has indicated interest to roll out services in Abuja and Port Harcourt by 2015.
Gloo.ng, which clocked two years on October 6 said it hoped to have extended it reach by 100 per cent to every part of Lagos state including Ikorodu and Badagry by ending of this year.
Speaking to journalists in Lagos on the two year anniversary of the firm, the Chief Executive Officer of Gloo.ng, Dr. Olumide Olusanya said though eCommerce in Nigeria is not yet at the level of countries including China, India and others, there have been massive growth and acceptance by the people.
"Nigeria's eCommerce space is still very robust and open with an addressable market that runs into billions of dollars", he stated.
Rolling out some of the achievements of the firm so far, Olusanya, a Medical Doctor by profession said the firm has increased its staff strength from seven to 20; records 600 per cent growth in customer growth, about 50 per cent on a monthly basis.
He added that the firm has served 75 per cent of Lagos customers and hoped to make 100 per cent before the end of the year, "with a target to rollout services in Abuja, Port Harcourt and others by late 2015 into early 2016.) He said the firm also moved from a 5000 Sqf fulfilment centre to 20,000 Sqf centre.
According to him, the firm, compared to other big players in the sector, recorded 99 per cent success rate in terms of delivery and one per cent return rate by customers.
Though, the market is still largely driven by the middle income earners, Olusanya said 80 per cent of revenues for most eCommerce operators in the country come from repeat business.
Meanwhile, to celebrate the two year anniversary, Olusanya said Gloo.ng is organizing a promo, which runs from October 1 to 31, where gifts including two pairs of iPhone six; LED Tv and washing machines will be given to winners. He explained that participants can go to the firm's website to participate.
Speaking on the challenges the sub-Sector is facing, Olusanya said operators face logistics; payment system and local funding issues.
According to him, 97 per cent of investments in the sector come from foreigners.
Logistics challenge, according to the Gloo.ng boss lies on poor road networks and traffic gridlocks, associated especially with the Lagos environ. "These challenges lie on poor road network; traffic gridlock among others, which hinders smooth delivery. This is also reason why it takes between five to seven days for some major players to deliver goods to customers. But we at Gloo, we deliver on same day because we have found ways around it.
"In terms of payment, especially the e-payment part of it, the process is still very cumbersome. You will need to go from one link to another, several processes in all. But abroad, especially in the USA, payment is just one click. I will also say that there have not been local source for funding, 97 per cent of investments in the sector come from abroad. Nigerian banks have not really been a source of investment for the sector, except through some individual equity stakes."
Gloo.ng, which clocked two years on October 6 said it hoped to have extended it reach by 100 per cent to every part of Lagos state including Ikorodu and Badagry by ending of this year.
Speaking to journalists in Lagos on the two year anniversary of the firm, the Chief Executive Officer of Gloo.ng, Dr. Olumide Olusanya said though eCommerce in Nigeria is not yet at the level of countries including China, India and others, there have been massive growth and acceptance by the people.
"Nigeria's eCommerce space is still very robust and open with an addressable market that runs into billions of dollars", he stated.
Rolling out some of the achievements of the firm so far, Olusanya, a Medical Doctor by profession said the firm has increased its staff strength from seven to 20; records 600 per cent growth in customer growth, about 50 per cent on a monthly basis.
He added that the firm has served 75 per cent of Lagos customers and hoped to make 100 per cent before the end of the year, "with a target to rollout services in Abuja, Port Harcourt and others by late 2015 into early 2016.) He said the firm also moved from a 5000 Sqf fulfilment centre to 20,000 Sqf centre.
According to him, the firm, compared to other big players in the sector, recorded 99 per cent success rate in terms of delivery and one per cent return rate by customers.
Though, the market is still largely driven by the middle income earners, Olusanya said 80 per cent of revenues for most eCommerce operators in the country come from repeat business.
Meanwhile, to celebrate the two year anniversary, Olusanya said Gloo.ng is organizing a promo, which runs from October 1 to 31, where gifts including two pairs of iPhone six; LED Tv and washing machines will be given to winners. He explained that participants can go to the firm's website to participate.
Speaking on the challenges the sub-Sector is facing, Olusanya said operators face logistics; payment system and local funding issues.
According to him, 97 per cent of investments in the sector come from foreigners.
Logistics challenge, according to the Gloo.ng boss lies on poor road networks and traffic gridlocks, associated especially with the Lagos environ. "These challenges lie on poor road network; traffic gridlock among others, which hinders smooth delivery. This is also reason why it takes between five to seven days for some major players to deliver goods to customers. But we at Gloo, we deliver on same day because we have found ways around it.
"In terms of payment, especially the e-payment part of it, the process is still very cumbersome. You will need to go from one link to another, several processes in all. But abroad, especially in the USA, payment is just one click. I will also say that there have not been local source for funding, 97 per cent of investments in the sector come from abroad. Nigerian banks have not really been a source of investment for the sector, except through some individual equity stakes."
Source: allafrica.com
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