Jumia Market Adopts ‘Instagram like’ Business Model
Jumia Market is changing its business model from an online Marketplace to an online social shopping site. This means adopting more of a peer to peer model where users will interact when buying and selling goods. The model is a fusion of the social networking site Instagram and e-commerce.
Similar to Instagram, the platform will allow users to comment, like, tag and even follow sellers they like, making it easy to shop from their news feed. The platform will be predominantly used through the app and will also be available on desktop. “The main objective is to make online shopping simple, straight forward, social and fun,” Said Jean-Jacques Maikere, MD Jumia Market. “Our market will tap into individuals looking for very different and unique products that they cannot find anywhere else”
In contrast to the previous model that focused on electronics and fashion, the new model focuses on handcrafted products in fashion, jewelry, décor and beauty. “Selling will be easy for users,” Said Jean- Jacques. “What is required is a clear picture and good description of the product they sell. The process will take you less than 5 minutes.”
The sellers will create their profiles and even upload a picture of themselves or their business logo on the platform. This will give them a retail persona which will amass to followers. The followers (Who are potential buyers) will then be able to like, comment and even tag friends. The more followers a seller has, the more lucrative their store.
The business model, the first In Africa will be launched in 4 Jumia Countries, Nigeria, Morocco, Ivory coast and Kenya. Other similar social commerce sites include, Depop, vented and Etsy.Jumia Market is part of the Jumia Group which hosts other venture like Jumia Travel, Jumia Food, Jumia House and Jumia.co.ke. “We are taking shopping experience a notch higher by making it 100% fun,” Said Jean – Jacques, “We hope to inspire, engage and provide the safest selling platform”