Kaiglo records 50,000 users, as mer­chants’ en­rol­ment hits 200% growth rate in one year

Business Day (Nigeria) - - BD TECH - JUMOKE AKIYODE LAWANSON

Kaiglo, a mar­ket­place that of­fers con­sumer’s fa­vorite mar­ket closer to them through on­line trad­ing, and helps en­trepreneur­s build brand recog­ni­tion, now has over 50,000 peo­ple on its plat­form in only one year of op­er­a­tion.

Sim­i­larly, it recorded over 200 per­cent growth rate in mer­chants’ en­rol­ment in the first quar­ter of this year.

Vic­tor Chuk­wue­buka Eze, cofounder and CEO of Kaiglo, who de­scribed the com­pany as an on­line mar­ket­place with a unique propo­si­tion for fash­ion en­trepreneur­s, mar­ket traders, and smart gadget deal­ers, said that Kaiglo re­mains res­o­lute in its de­ter­mi­na­tion to grow lo­cal brands and bring peo­ple’s fa­vorite mar­ket closer to them no mat­ter the lo­ca­tion.

Kaiglo launched op­er­a­tions in La­gos one year ago and has since recorded over 1000 mer­chants reg­is­tered on the plat­form.

“It has been a very busy 12 months for us. In spite of the ups and downs in the econ­omy, we are see­ing rays of light. As we mark our first an­niver­sary, we can tell you that new mer­chant en­rol­ment on Kaiglo rose from 50 per­cent to 200 per­cent with hap­pier clients ex­press­ing their sat­is­fac­tion with the plat­form so far and how it has helped them boost sales,” Chuk­wue­buka Eze said.

“Cur­rently, we have more than 1000 mer­chants reg­is­tered on the plat­form. Our monthly sales growth in­creased from 50 per­cent in fourth quar­ter of 2019 to 175 per­cent in the sec­ond quar­ter of this year. Kaiglo has suc­cess­fully pro­cessed and de­liv­ered more than 15,000 items in the past one year, with more than 70 per­cent de­liv­ered in La­gos alone where it cur­rently has most of its op­er­a­tion,” he said.

The CEO also said that cur­rently, Kaiglo have more than 50,000 users reg­is­tered on the plat­form.

In the year un­der re­view, Kaiglo also un­veiled Kg­ex­press; a lo­gis­tics arm fo­cused on pick-up and de­liv­ery to re­duce the de­liv­ery time for its cus­tomers and gen­eral mer­chants.

Ac­cord­ing to the CEO, the com­pany pre­dicted an in­crease in de­mand for ca­pac­ity in re­sponse to a surge in or­ders.

“Kg­ex­press.ng was launched to cater for the pain of the cus­tomers – longer wait times for de­liv­er­ies can cause de­pres­sion. The to­tal de­liv­ery time in­cludes travel time, load­ing time, un­load­ing time and wait­ing time. To­day, tech­nol­ogy is so ad­vance that the op­ti­mi­sa­tion is be­ing done at ev­ery step in or­der to re­duce de­liv­ery time”.

“In other words, we have fac­tored in ‘how to de­liver faster’. With this, we are go­ing to rent ware­houses that will form hubs for ‘drop-offs and pick-ups’. This is not just about us, rather any busi­ness can leverage on Kg­ex­press to meet their de­liv­ery needs,” Eze said.

The com­pany is cur­rently mak­ing plans to launch its Kaiglo mo­bile app, for An­droid and IOS users that will al­low more Nige­ri­ans to sell and/or buy prod­ucts seam­lessly.

The app, he said, will use Kaiglo ad­vanced ma­chine learn­ing tech­niques to de­liver unique and newly ar­rived prod­ucts to each user, and based on their in­di­vid­ual in­ter­ests.

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