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Young founder and chief executive of Yudala, pioneer indigenous online and offline e-commerce outfit, Prince Nnamdi Ekeh, given insight on how his group is gearing up to intimidate the already saturated shopping space in Nigeria.
In an interview, he said “the company is set to hit a path of profitability by 2020, thereby making it the first e-commerce company in Africa to return profits within its first five years of operations”.
According to him, “Facts and figures on ground show that Yudala is on track to set another record in what has been a ground-breaking journey in the Nigerian e-commerce industry”.
“At Yudala, our strategy is clear and distinct from anything else on offer in the market today. Our fusion of online and offline is not only futuristic, but one that has being copied by other global e-commerce giants. On the back of this, we have seen a consistent growth trajectory that will see Yudala emerge as the first profitable Nigerian e-commerce company by 2020.
“Furthermore, we are renowned as arguably the most credible source of genuine products in the e-commerce sub-sector today. Every item on the Yudala platform, online or offline, is sourced directly from the manufacturers and this has clearly distinguished the Yudala brand in the marketplace.
Prince Ekeh averred further that “We possess superior logistics and delivery timelines that have endeared us to shoppers. As a result, we have consistently seen repeat purchases from our customers. In most cases, we have also been able to win over new shoppers, the majority of whom, having patronized other platforms, have not looked back since their first experience of Yudala. Aligned to the foregoing is the passionate, committed and highly professional team we have in the company, all of whom have continuously displayed the hunger and capacity to deliver on our mandate.
“Finally, we have God. You will agree with me that, with all these factors in place, the sky is just the starting point for us,” he enthused.
He explained further that Yudala will follow the example set with Unusual Praise by supporting other religious concerts in future, Prince Ekeh revealed that the company will be sponsoring about five other concerts in 2018.
“We have a budget for these events and in 2018, we will be supporting other religious events, including Islamic ones. Yudala is a platform for all and we respect the diversity of faith we have in the country,” he said.
Business Hilights recalls that in the close to two of the company’s operations, “Yudala has more than held its own in Nigeria’s keenly-competitive e-commerce sector, with the company’s futuristic fusion of an online platform with a chain of brick-and-mortar stores located nationwide instantly setting it apart from inception”.
“And despite the well-known struggles of other established players in the sector, Yudala has continued to post impressive results, a trend that has seen optimism of the company soon turning the corner of profitability.
“We are aware of the challenges faced by players in the e-commerce sector. Research at our disposal indicates that less than 30 per cent of African e-commerce startups are profitable, with many of them hampered by lack of trust, shortage of financing, logistical difficulties and the largely-traditional approach to shopping still in play among these economies.