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The current Naira Crash presents an Opportunity for Jumia Market

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The current Naira Crash presents an Opportunity for Jumia Market

I’ll confess, I’ve never had to use Jumia Market (or Kaymu as it was formerly known) before, for a good reason too – the options that I use (Amazon and Aliexpress) pre-date Kaymu and haven’t given me cause to look elsewhere.

However, following the rebranding of all the African Internet Group’s companies to fit under the Jumia Umbrella, I decided to give all the sites a look to see how much they actually rebranded following the announcements and somehow, when I got to Jumia Market, I got distracted from my original goal.

What struck me about it is how, to an extent, the site’s offerings pretty much mirror what is available on AliExpress (maybe not the width, but you get my point). Usually, that’s not much of an issue, however considering the recent crash of the Naira; the platform now has a new opportunity to become something much larger than it currently is.

Imagine if you could get the very same items you’d want off AliExpress on Jumia Market, but without having to wait for the time it takes to ship from China for the same or a little less of what it’ll cost, also without worrying about what the current dollar rate is? That would be amazing right?

That’s the opportunity Jumia Market is sitting on at the moment.

It should be not too hard to nail too; all it will take would be for Jumia Market to get a few of its vendors to collaborate and split the costs of buying and shipping in bulk from China (or maybe Jumia Market could just provide that as a service to its vendors). Such an arrangement will enable vendors pass on savings made from buying wholesale and shipping in bulk to its would-be customers.

Depending on the scale, with such an arrangement, vendors on Jumia Market should be able to match current retail prices on AliExpress, while still being profitable. On the customer side, you get the very same items you want at the same or a slightly cheaper price, a lot faster. A win-win for everyone involved!

Obviously, this is overly simplified and may involve a bit more than just outlined. However, I strongly believe that there is a huge opportunity there somewhere, waiting to be exploited.

...half genius, half unserious.

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