Kaiglo Enrols 50,000 Users in Less Than a Year of Operation, Records 200% Quarterly Growth rate
Kaiglo, a marketplace that offers consumer’s favourite market closer to them through online trading, and helps entrepreneurs build brand recognition, total users have crossed 50,000 in the last one year it started operations.
Similarly, it recorded over two hundred per cent (200%) growth rate in merchants’ enrolment since the first quarter of this year.
This was disclosed by the Kaiglo’s Co-Founder and Chief Executive Officer, Victor Chukwuebuka Eze, during a press conference as part of activities to mark the first anniversary.
Mr Eze described Kaiglo as an online marketplace with a unique proposition for fashion entrepreneurs, market traders, and smart gadget dealers, adding that Kaiglo remains resolute in its determination to grow local brands and bring people’s favourite 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.
In his words, “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.”
Today, as we mark our first anniversary, we can tell you that new merchant enrolment on Kaiglo rose from 50% to 200% with more happy clients expressing their satisfaction with the platform so far and how it has helped them boost sales.
“Currently, we have more than 1000 merchants registered on the platform. Our monthly sales growth increased from 50% in 4th quarter of 2019 to 175% in the 2nd quarter of this year.
“Kaiglo has successfully processed and delivered more than 15,000 items in the past year, with more than 70% delivered in Lagos alone where it currently has most of its operation”
The CEO also disclosed that currently, Kaiglo has more than 50,000 users registered on the platform.
Within 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, they predicted an increase in demand for capacity in response to a surge in orders.
“KGExpress.ng was launched to cater to 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 optimization 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”, Mr. Eze added.
He further hinted on plans to launch a world class, 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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