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