Brands
Special Report: How Konga revolutionized e-commerce
BY EMEKA EJERE
Nigeria’s foremost composite e-Commerce giant, Konga is celebrating nine years of outstanding leadership and landmark strides in the e-Commerce sector, with two weeks of mega deals and special offers to its customers.
The Konga 9th Anniversary promotion, which kicked off on Friday June 25 and has run till today (Monday, July 5, 2021), has seen a wide-ranging array of mouth-watering incentives, price slashes, best-priced deals and giveaways placed at the disposal of Konga shoppers, online at www.konga.com and offline in every Konga retail store nationwide.
The promotion has run across the entire suite of Konga’s massive bouquet, including Mobile Phones, Electronics, Home & Kitchen, Computing & Accessories, Fast Moving Consumer Goods (FMCG), Fashion, Power, Fashion, Baby, Kids & Toys (BKT), Beauty and much more.
The company, according to the management, also rolled out 900,000 assorted products and up to 90,000 special deals for its shoppers to make the anniversary a memorable one for them. There is also a chance for shoppers to sing and win amazing prizes via the Konga Karaoke.
Besides, two lucky Nigerians are to get a chance to win shopping vouchers daily on live radio for nine days. This is in addition to other incentives such as treasure hunts, flash sales, free shipping, app-only deals and a special 9th Anniversary live auction (Konga Last Price) today (July 5).
According to Nick Imudia, co-CEO, online, Konga Group, Konga 9th Anniversary promotion is one that will situate the company’s landmark achievements in the e-Commerce ecosystem, while affording it the opportunity to reward its loyal customers with mega deals.
‘‘The Konga 9th Anniversary promo is a time to celebrate some of the huge strides we have recorded in the Nigerian e-Commerce space since inception”, he stated.
“In nine years, we have successfully fulfilled over 15 million orders, served over seven million customers, amassed 35 physical stores and counting across various cities in Nigeria, set up six thriving entities within the Konga Group, acquired over 400 logistics assets, rolled out over 15 massive warehousing facilities and provided direct and indirect employment opportunities for over 250,000 employees nationwide. This is not to forget the fact that we have expanded our reach to over 75 locations across Nigeria.
‘‘All these would have been impossible without the support of our most esteemed customers. Therefore, we are using this ninth anniversary celebration as an opportunity to express our gratitude to them. A number of special offers have been lined up from Friday, June 25 until the end of the promotion on Monday, July 5.
‘‘These offers are better experienced than imagined. You can walk into the nearest Konga store or go online at konga.com from Friday to experience it,’’ he had advised.
Founded in July 2012, Konga holds the prime status of being one of the pioneers of the recent e-Commerce wave in Nigeria. It also pioneered the marketplace structure which has been widely adopted by other players in Nigeria and beyond. Having come under new ownership in 2018, Konga has been set on a path of immense growth which has seen it assume the dominant position in the Nigerian e-Commerce sector.
Nothing, perhaps, speaks louder about the company’s growth aspiration than the optimism with which it is working towards an ambitious projection of hitting a daily turnover of $10 million by the year 2024.
To reach the target set early this last year, the e-Commerce giant, according to the management, is riding on the back of its renewed commitment as well as the confidence of its stakeholders, while also planning to make the most of its newfound efficiency which has led to consistent growth.
Although the company has not operated without suffering losses in recent years, it is in the public domain that it has consistently and significantly reduced losses over the years, especially now doing so is critical to achieving its four-year target.
Since Konga was acquired by Zinox Group, the Nigerian e-Commerce platform has been able to grow revenue by eight times, while also reducing its costs by 65%, a feat it has attributed to its long-held tradition of ethical conduct and realistic business model.
Imudia had stated that this would be a step by step process, culminating in two major milestones. The first milestone, he said, is that by 2022, the company plans to achieve $5 million daily turnover on its way to hitting its ultimate 2024 milestone.
“With the high level of trust Konga has gained among shoppers in and out Nigeria, it is safe to say Konga is ready to scale big in the early part of this third decade” Imudia had stated.
“Therefore, we are targeting a $10 million daily turnover by 2024. We shall attain half of this target at least by 2022”.
“Konga has grown over eight times since the business was acquired by the Zinox Group. We have consistently reduced our losses by nearly 70%. Added to this is the addition of new and thriving business units such as Konga Travel, among others, all of which have enjoyed huge growth and massive acceptance by our rapidly expanding customer base.”
Konga Marketplace
Konga started its massive expansion in Nigeria with Konga Mall, which is a revolutionary option that allows businesses in Nigeria to showcase their products online. Business owners were offered a free and simple delivery service. The business owner packages order that is accompanied with SellerHQ details and details of the order before dropping the parcel at Konga’s dropoff centre.
With the success of Konga Mall, came Konga Marketplace, which has made it possible for even roadside sellers to be involved from any part of the country. Amazing products have been discovered and massive sales are made daily through this market. The sellers and buyers interact in this marketplace which is revolutionary.
Unlimited opportunities have been created through this marketplace that has ended up boosting employment and economic growth and development in the country. Affiliate marketing and comparison online stores such as bestprices have also become possible with this marketplace.
It did not come to many as a surprise when Konga bagged the Company of the Year award in the 2020 edition of the prestigious People of the Year Awards of Business Hallmark Newspaper.
The newspaper in a letter to its promoter, Leo Stan Ekeh, had explained that “the choice of Konga is in recognition of the ground-breaking feats achieved by the company in the year under review”, stressing that despite all odds, Konga has become the market leader and fastest growing e-Commerce company in the African region.
