Online retail companies are gearing up for tight competition in the industry as Black Friday sales approaches. E-commerce companies have started announcing plans for huge deals, partnerships and giveaways.
Recently, Konga, Nigerian e-commerce company, announced that it has made available soft loans and credit facilities for merchants on the Konga Marketplace in preparation for its 2019 edition of its Yakata sales during the period of the popular Black Friday shopping in November.
Konga Yakata – as Konga’s Black Friday sales are known occupies a special place in the consciousness of millions of Nigerian shoppers who look forward to the price slashes and discount deals, as a good time to do most of their Christmas shopping.
By extending soft loans to the merchants on its platform, Konga is hopeful of equipping the merchants with the capacity to grow their business and make more products available to shoppers ahead of the 2019 edition of Konga Yakata.
“Konga Yakata is around the corner and our intention is to make it the best ever in the history of the company for our customers,” said Nnamdi Ekeh, Co-CEO of Konga. “For all of us at Konga, nothing comes in the way of ensuring our customers are satisfied. This is why we have taken the uncommon step of providing credit facilities to merchants on the Konga platform in preparation for Konga Yakata 2019.”
“We understand that our customers will be looking forward to the widest assortment of genuine products across multiple categories on Konga. This is why we are committing significant funds into expanding the carrying capacity of our merchants for the sales fiesta.
“No other sales event comes close to Konga Yakata. Therefore, it is only fitting that management has decided to go all out and make it a memorable one for our teeming customers,” Ekeh said.
Indeed, access to loans and credit facilities one of the encumbrances that has constantly hobbled businesses in Nigeria in their attempts to scale. This remains a huge challenge for most small business owners who have limited access to credit facilities and loans with favourable interest rates.
This point is not lost on the management of Konga – Nigeria’s only omni-channel retail platform – which under its new owners, seems to have achieved a considerable amount of expansion, as the company plans for profitability in the near future.
“We have partnered with Simple-Fi to make these loans available at very low and convenient interest rates of 2.08 percent only. Merchants on the Konga platform can also take advantage of flexible repayment plans,” Ekeh said.
Also, Jumia recently partnered with 90 top brands including, Intel, Samsung, Binatone, Coca-Cola, Nexus and others to launch its Jumia mall and offer customers more value for money.
Speaking during the launch of Jumia Mall in Lagos recently, Juliet Anammah, CEO Jumia Nigeria described Jumia Mall is a space dedicated to various brands on Jumia website. This website helps consumers; to find products that are 100 percent authentic, to enjoy a 15-day return policy on the platform, and enjoy warranty on every product.
Jumoke Akiyode-Lawanson
