How I planned to launch the first e-commerce platform in Nigeria before Konga and Jumia – Joshua Ogunde
In 2010, I had an idea!
My friend Tobi and I wanted to develop the first e-commerce platform in Nigeria, we admired what Amazon was doing back then and wanted to replicate the same here in Nigeria.
We did our research, asked a lot of questions and made a lot of discoveries, however, we were lacking in many ways; we had no technical skills or financial capacity to mobilize many resources to achieve our dream.
Fast forward to 2012, Jumia and Konga pop up, and boom, here’s our idea! However, interest in the sector remained strong.
I was so interested in the business landscape and the predicted impact it was going to have on the economy, finding answers to questions we faced like “how are you going to get people to pay with their card on this platform you are trying to develop?’ Online platforms were still relatively new and customers had little or no confidence in online transactions.
Plugging payment gateways into your website was so expensive back then. But as the technology progressed and more e-commerce platforms appeared, some banks and financial transaction companies started to develop their APIs and the prices dropped significantly.
Many other factors have dampened the rapid growth of e-commerce; the business landscape was chaotic and I saw logistics as one of the major issues, and I knew I had to be inside to learn more about e-commerce in Nigeria.
I started as a merchandise planner at Konga in 2013 and was so excited; Merchandise planners make calculated and informed suggestions regarding purchases using predictive data and analytics.
Anticipate future trends and advise category managers on purchases to be made. We guide business thinking, advise on the direction it should take based on the trends we spot and identify areas for investment, all of which are data-driven!
The fashion line at Konga was born when my team and I noticed an increase in fashion trends in Nigeria at the time, the norm at the time was for people to shop in Yaba or Oshodi, or for those who had the purchasing power ; going to specific stores in Lekki to buy as Shoprite and other malls were just born, unfortunately these fashion shopping options were not good value for money.
The fashion trend at the time was huge, so we advocated for this investment with the management, and the private label was developed. My role was critical as the decision to buy or continue the fashion brand in Nigeria was based solely on data generated, cleaned and analyzed by myself and my then colleague, Onyeka.
The success of the first purchase boosted the business and the desire to do more in fashion merchandising grew, further investments were made and of course it was very profitable.
It all started with data and grew with data at a breakneck pace, the growth was exponential and it piqued my curiosity, I can say that’s where my desire for data analytics and business development came from. was born.
I started going deeper into the data, I became well grounded and established in data analysis and forecasting, cost-benefit analysis, and much more along those lines.
New knowledge and growth would continue to create a curiosity for technology in me, the environment was conducive and it sparked the interest that was already innate, so I started to learn a lot about technology, to evolve with the team technicians and got involved in the management of the site.
This was a tough time for me as my boss at the time, Teniola, who was handling the data analytics for Black Friday, left the company and I had to perform the magic that Tteniola was performing.
I was quick to fall back on her to learn the tricks and create the necessary reports and Black Friday investment rationale, I remember having several knowledge sharing sessions with Teni, after hours and sharing my work with her to spot errors, she was so helpful even though she was no longer working with the company.
At the other end of the Black Friday stretch, there was price management which involved; cost-benefit analysis, competitor analysis, market trend analysis, etc. working with different teams to achieve success; from technology to marketing, logistics, inventory, warehouse, category teams, and more. It all happened so fast that at one point I slept in the office for 3 days straight before going live, and it all paid off! Black Friday 2015 was such an insightful experience that we had gathered in the war room with all departments actively represented to monitor all forms of operation, ensuring that there were no glitches or ensuring prompt resolution of any issues that arise.
Then there was the post-Black Friday analysis which consists of bringing each item back to what it was before the event, as well as other activities to analyze and learn the main lessons from the Black Friday sale.
Working with such brilliant minds and being part of these groups of people has had a major influence on the trajectory of my professional advancement.
The emergence and growth of e-commerce has led to many changes in the business landscape, especially the retail landscape, logistics, payments, and even banking. Technology and data analytics have been the main drivers of this change, as e-commerce thrives on both.
I’ve seen the e-commerce industry grow over the years, that growth has been nothing short of magnificent and I’m still watching e-commerce predictions come to fruition because data analytics, predictive analytics and technology have become essential.
Professional profile of Joshua Ogunde
Joshua is a data-savvy Techpreneur, results-driven business analyst with exceptional experience in improving sales performance and profitability through technology, big data management, data modeling , consumer insights and analytics, retail value chain and inventory management.
He has strong forecasting correlation/regression analysis skills and an unassailable commitment to organizational goals and objectives.
He has over 12 years of experience as a business leader in different industries, primarily retail, e-commerce and consumer packaged goods, with record achievements in ROI metrics and effective business turnarounds.
Joshua is adept at deploying data-driven strategies and essential technology tools to achieve measurable business goals.
He led different revenue driven initiatives that led to business growth and profitability in the organizations where he worked. He was instrumental in analyzing Konga’s profit and loss strategy during the company’s first “Big App sales promotion“, which resulted in an increase in revenue of $148,000 per day to a average of $346,000 per day.
He also played a major role in Konga’s “annual mega sales” locally called “YAKATA” online with Black Friday which is a day known as International Commodity Discount Day, where sales increased by 3 times per minute, leading the organization to daily exceed forecasted sales budgets by 2x with an average revenue of $3,712,871 per day.
Following his desire to leverage technology to improve business processes, he pioneered the adoption of ERP and revamped the company’s ERP (reporting portal) by exploring, cleaning up and practically recoding data assets for reporting, analytics, dashboard visualization and data asset warehouse in different organizations. where he worked.
Joshua is also a force to be reckoned with in the digital and marketing environment as he is co-founder of the Association of Digital Marketing Professionals (ADMARP), serving on its board of directors.
He is currently working with SLOT as Manager, General Merchandise, Procurement & Technology. He graduated in physics with electronics and also belongs to different notable professional bodies, locally and globally.
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