Wabi, an eCommerce ecosystem that aims to transform trade channels and the way consumers purchase their products has unveiled wabi2b in Nigeria to digitise the already existing trade channels.
The ecommerce ecosystem is a joint venture between the Coca-Cola Company and the Coca-Cola Hellenic bottling company
Web2b is the Business-to-Business (B2B) arm of the business, which is a marketplace that allows all wholesalers and distributors in the FMCG space to sell their products directly to retailers and traditional stores.
A report from the International Labour Organisation (ILO), shows that at least 142 million people work in the retail sector in developing countries of the World and 10-15 percent of the Job market in any country.
However, considering the retail industry which is vital to Nigeria’s economy, bringing the traditional stores online will be a big opportunity to double the Job market.
Omolara Adaguroda, country manager at Wabi Nigeria, while addressing attendees at the Wabi press conference stated that Wabi2b is an ecosystem designed to ensure all retail outlets of all sizes have access to buying and selling products online.
According to her, the Wabi platform is created to digitize existing traditional trade channels and empower families.
“Wabi is here to help all the FMCG markets to digitize their road to market, the wholesalers will be able to reach a binding range of sources to the retailers. We are digitizing the already existing traditional trade channels and we are enhancing the ways work is being done and preparing them for a true digital era” Omolora said.
The Manager explained they are mostly focused on helping their retail partners including the small shops on the streets that are selling FMCG products.
Read also: 575 million shares up for grabs in MTN’s digital public offer
“When we think back to the Pandemic era, people were scared to visit stores to shop, As much as it was convenient for them to shop online. This puts small grocery shops at great disadvantage because they were not online and they lost to businesses that had the capability to be online and trade products. Wabi2b is an ecosystem designed for such a time as this will ensure that all retailers no matter how small have access to online transactions,” she added.
She noted that 95 percent of their retail partners are women and the platform will enable them to increase their revenue and have access to digital marketing to meet their needs
However, Omolara stated that retailers who find it difficult to get products they want can now login to the platform, make their order at best prices and the products will be delivered to them within 48 hours.
Chimezie Ugwuzie, Head Wabi2b, stated that there are over 10,000 retailers already using the platform and the platform gives you the opportunity to compare prices of particular products before placing your order.
According to her, the platform offers an opportunity for wholesalers to sell directly to retailers at the best prices which enables them to make incremental sales.
“The platform gives the retailers the opportunity to choose from anybody and buy from whoever they want to purchase from,” Chimezie said.
Bayo Adepoju, a wholesaler who shares his experience with Wabi noted that those familiar with the industry will know that it is a game of numbers and targets which gives little profit at the end of every quarter.
According to him, he has seen an increase in month-to-month sales since he started working with Wabi.
“Wabi has created a niche for us to reach retailers, we are excited to be partnering with Wabi,” Bayo said.
The country manager said the platform works on an affordable commission basis and also supports wholesalers who do not have deliveries with logistics.
“We want to give everybody the digital ability to compete, we are in a tech and digital world and we will ensure trading remains consistent in an online channel,” she added.
Speaking on, she explained that Wabi is currently in 20 countries and they are currently in Lagos Nigeria as they plan to extend to other cities across Nigeria by next year 2022.
