Firm Launches Online Portal for Price Comparison

In a bid to enhance consumer experience through price comparison, Mybasket.ng recently launched a price comparison site.

Speaking at the launch, the Consumer Advocate and Founder of MyBasket. ng Mrs. Ayodeji Olawoye, said inflation and households’ purchasing power made her to create the website.

Olawoye added: “Nigeria’s recent economic challenges have resulted in high rates of inflation as well as significantly reduced household purchasing power. This has led consumers in Nigeria to explore alternative means of stretching the household budget and create more value for money.”

“Mybasket.ng allows you to compare the price of groceries across different supermarkets in Nigeria starting with Lagos. It also allows you to compare the price of fresh produce sold in the major open-air markets in Lagos”

He further said customers can either compare the price of an individual product across multiple supermarkets or compare the aggregated price of their shopping list. “This enables you to determine the most cost-efficient supermarket to suit your shopping requirements.

She further added: “The website also includes a supermarket directory with opening hours, deals from manufacturers of goods and supermarkets, delicious recipes and blog posts on grocery related matters.”

Olawoye, believes that increased transparency in the consumer goods retail market would improve fairness for all stakeholders in the industry and lead to an improvement in the way the consumers in Nigeria are treated.

“Consumer behavior is changing, with the Nigerian online retail sector forecasted to grow at average growth rate of 21.4 per cent to over $700 million by 2022.

“An increasing number of people want to shop for their groceries online and find out the prices of their favorite brands prior to visiting supermarkets.

“In the long-run, mybasket. ng, aims to be the largest consumer goods resource in Africa, providing a wide range of consumer-focused services across the continent,” she added.