Cross-border people know that “Black Friday” is a big promotion not to be missed. In the 2021 Black Friday promotion, Jumia has achieved another success. The self-delivery of orders on the platform has reached 3-4 times of the usual, and the overseas warehouse has reached 5-6 times! During the traffic peak of Black Friday, many brands have achieved business growth several times or even dozens of times. The three new brands in the electronic category are the Compared with the order volume when they first entered the market, these three brands have made a qualitative leap in the first Black Friday after entering the market, and the order volume of the electronic equipment product Oraimo has also increased by 126 times. In addition to the three fast-growing brands, the total transaction value of Jumia’s top seller website exceeds 860w, and the total order volume exceeds 97w. The “power” of Black Friday should not be underestimated! Broad market Africa is currently one of the fastest growing economies in the world, with six of the top ten fastest growing economies in the world. Moreover, the African continent has reached 1.3 billion people in 2019, with an average age of about 20 years old. Young groups with strong consumption power will become the main force in the e-commerce market and have a broad space for development. Times Opportunity With a large number of Chinese brands entering the African market, the share of Chinese smartphones in Africa is increasing. At the same time, the widespread use of smartphones has contributed to the year-on-year increase in Internet penetration in Africa. Currently, there are more than 523 million Internet users on the African continent, and the smartphone penetration rate in Africa is expected to increase to 77% by 2022. Moderate competition The African market has just been developed, capital is relatively concentrated, and competition is smaller. Compared with the US market, the ratio of online transaction value/total transaction value in the African market is 0.8%, and the current website order volume has achieved good results. With the continuous increase in the proportion, the market prospect is self-evident. metaphor. At the same time, a store in Africa covers 67,000 consumers, and online delivery is more necessary to meet consumer demand when there are fewer offline stores. It can be seen that compared with the competition in the European and American markets, the large blanks in the African e-commerce market can provide you with broader business opportunities.
