LONG term strategic planning is giving the electronic commerce platform, Jumia a heads up against its competition that appears to be shedding weight due to recession. The company’s global chief executive officer (CEO), Jeremy Hodara admitted recently that the company may have not made enough gains in its five years of operating in Nigeria, but because of long term planning, the recession and Forex challenges did not in any way slow down its operations.

According to Hodara, “Nigeria is still where to be. The demand is still here despite the various economic challenges. Agreed, that the Nigerian economy has indeed been very tough in the last 18 months, which has thrown up lots of unpredictable behaviour from the consumers, but we are still ahead and instead of going down, we are recording increasing demands and we are expanding our offerings too.

Despite not being so profitable, we are still investing in the business in various forms. Jumia is a Nigerian company that will be here for another 100 years. We are on the long term. Nigeria is our biggest market. We are not in a hurry to make profit. It took Amazon about 25 years before they could become profitable. But we shall remain consistent, serving the Nigerian economy thoroughly.”

Meanwhile, Hodara also hinted that about 60 of the company’s 15000 vendors across the country would benefit in a soft loan scheme the company was putting in place to boost ecommerce in Nigeria. He disclosed that vendors that have distinguished themselves in terms of professionalism; trust and also have verifiable needs for the loan would be considered so that their businesses will continue to flourish.

He also used the opportunity to intimate on the company’s plans to extend the ‘Black Friday sales to one month instead of the usual two weeks the promotional sales last. He said this was to celebrate Nigerians who have also consistently patronised and kept the company running.

Hodara confessed that Nigeria remained the largest market among the 20 countries Jumia currently has its footprints in Africa. Jumia recorded over eight million customers, who patronized the platform during the ‘Black Friday’ last year, but this year, Jumia is planning to double the figures.

SOURCE: https://brandspurng.com/how-we-survived-recession-in-nigeria-jumia/

Great!

Hmmmm.

Kudos to them!

This is one of the things our leaders should learn from all these progressive business outfits and corporate organisations. While continuity is a challenge for each govt of the day, their inconsistency will never allow anything called legacy to help their successors. Successors always starting afresh, a project that has already been started by a predecessor instead of building on an established platform, and the main problem is that they dont always have adequate and accurate strategic planning not to mention consistent implementation.
Taking their egovt scheme for example, an organisation like (name withheld) handling so so so registration online, will create a website for millions of naira the same thing 'awon omo mi' will conjure for 30k to 300k depending. At the end of the day, you will search all through the website and you will not see where to fill the form nor download a form to fill and submit and they will be telling you to go and register online. Not until you go to their office and beg them with some TIP before they eventually help you to generate a code, is that one an e-government?
Jumia knows that if they try that, their stocks will be named after them.

Vizboy1:

Hmm... The man was busy rambling instead of answering the Question "How exactly did you survive the recession..."

justi4jesu:

Justi4jesu Na technology section you suppose dey watin u dey find here

Nice one from jumia

https://www.nairaland.com/4104935/general-market-food-price-weekly/2#61610462

Oya clap for your sev.





Useless set of people, like say u own Nigeria

compare jumia and amazon @ ur own.....xxxxx

The damages caused by recession on many individuals are yet to be settled and while many may not even be able to overcome it for the rest of their lives. Recession was ushered in by a particular political party and its government...therefore such party and their members would never be forgotten for the deeds they unleashed on the economy.

That is what happens when you harness the best materials and place them at strategic managerial positions where they make use of their thinking faculties to keep the business moving.

Nigeria will always be a great country to do business, recession or not.

Nonesense

As if recession has ended.

It's my birthday, how many likes for me friends

Jumia, the indian Company is doing so well because we don't aprreciate our Nigerian ones. Colonial metality.

Ok naa

Thanks to d economic team of PMB. They managed well in d face of dwindling economic fortunes and massive looting/ plundering of d treasury by PDP guys esp under GEJ.Una try o jare

castrol180:
The damages caused by recession on many individuals are yet to be settled and while many may not even be able to overcome it for the rest of their lives. Recession was ushered in by a particular political party and its government...therefore such party and their members would never be forgotten for the deeds they unleashed on the economy.

Is the recession over? because nothing don come down for market oh! Forex still high.

Quality20:
Thanks to d economic team of PMB. They managed well in d face of dwindling economic fortunes and massive looting/ plundering of d treasury by PDP guys esp under GEJ.Una try o jare

Stale!

Erotex:
It's my birthday, how many likes for me friends

Happy birthday to you. Many happy returns. Long life, prosperous years and divine protection today and always.
Have fun

Lomprico2:


Is the recession over? because nothing don come down for market oh! Forex still high.

You dey mind them.

Survived what ?

Una mumu never done abi ?

Now that I just started shopping on their site, they are beginning to make mouth. Make them no make me vex o. Lol

And by relieving the work of their workers
And by hiking the price of some substandard products

http://www.quickfinda.com/ compare prices from different stores