Adedapo Adesanya
By Adedapo Adesanya
Nigerian e-commerce giant, Konga, has said that it is on the path to reach $10 million in daily turnover by 2024.
This projection was made known by its joint Chief Executive Officer (CEO), Konga (Online), Mr Nick Imudia, he noted that this was a possible achievement based on its growth trajectory and operational efficiency backed by its loss reduction techniques.
“Konga has used the last decade to lay a solid foundation for e-commerce business in Nigeria and to build trustworthy relationships with customers and potential investors across the Nigerian business spectrum.
“With the high level of trust the brand has gained among shoppers in and out of Nigeria, it is safe to say Konga is ready to scale big in the early part of this third decade,” he said.
He said that that the commerce giant has put up crucial measures in place to see that its daily turnover witnesses the anticipated upsurge in the next four years.
According to Mr Imudia, Konga was working hard to reach a daily turnover of $5 million in the next two years (2022), and working on that, hit the set mark of $10 million by the next two years after that.
“Therefore, we are targeting a $10 million daily turnover by 2024. We shall attain half of this target at least by 2022.
“To meet this target, we would be relying on the efficiency we have brought to bear on the business and the renewed confidence the Konga brand enjoys among critical stakeholders.
“There is no iota of doubt that Konga remains in prime position to attain this target, especially when one looks at the consistent growth the brand has recorded in the past years. Konga has grown over eight times since the business was acquired by the Zinox Group.
Speaking on its loss reduction measures, the Konga chief said, “We have consistently reduced our losses by nearly 70 percent. 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,” he said.
On its logistics, Mr Imudia said through K-Xpress, its in-house logistics company, it has boosted its capacity to handle deliveries to its customers, while also resolving logistics issues for external customers.
He assured that with other services like its warehousing service, the company was able to meet demands through its large inventories without time constraints.
Projecting into the future, Mr Imudia said that the company was expanding its frontiers with additional business units that will be rolled out soon.
“These additions will excite our customers and expand the Konga retail revolution to new verticals. To make the shopping experience a memorable one for our customers, we have also lined up various value-adding services and promotions throughout the year.
“These assets and many others too numerous to mention will shape the Nigerian e-commerce sector in 2020 and the succeeding years,” he said.
