What is Jumia? Jumia Review

Platform Introduction

The Jumia website is affiliated with Rocket Internet, a European Internet incubator company.

Jumia has more than 10 million fans on Facebook.

Jumia is the largest e-retailer in Africa, with a number of industry chains including hotels, tourism, fresh food, e-commerce, car rentals, logistics, and security.

Jumia Maketplace has a presence in 23 African countries, and is the only platform in Egypt that has obtained a national e-commerce license.

Jumia is the third e-commerce company in the world, after Amazon and JD.com, to have its own terminal logistics and delivery service.

Africa has a consumer market of 820 million, and Jumia’s online shopping user share reaches 60%.

Jumia Pay

In August last year, Jumia launched a tool with similar functions to Alipay - Jumia Pay. The buyer's funds will be kept by Jumia Pay before receiving the goods. If financial fraud occurs, Jumia Pay will advance the compensation as soon as possible.

develop

In 2012, Jumia Group was launched with support from Rocket Internet, MTN and Millicom.

By November 2013, jumia had 600 employees and sales in Kenya, Morocco, Côte d'Ivoire, Egypt and South Africa.

In 2013, the total number of jumia users in Nigeria exceeded 500,000, which means that jumia has become the fourth largest website in the country.

In 2014, Jumia launched an office in Uganda.

In 2015, Jumia's revenue was approximately $234 million, a 265% increase compared to 2014.

The platform entered China in 2015 and opened a dedicated logistics line - the Seko Line - to solve logistics problems.

As of 2016, Jumia has 126 operations in 23 African countries, covering 90% of Africa’s GDP and 3 million customers.

In 2016, Jumia became the mainland's first unicorn company valued at over $1 billion.

As of 2017, there are 126 sites in 23 African countries where campaigns are being conducted.

Financing

In 2012, Jumia, which was in its early stages of development, received $75 million in seed capital from German Internet company Rocket Internet.

In 2013, Jumia received US$35 million in financing from Millicom.

In December 2014, Jumia received $150 million in financing

Jumia entry requirements

1. Sellers must have experience in operating cross-border B2C platforms;

2. The company must have an independent e-commerce operation mechanism and assign a dedicated person to connect with the Jumia platform.

Jumia entry process

1. Apply for a residence permit in Lagos, Nigeria. For logistical reasons, Jumia sellers must be residents of Lagos.

2. Registering a company locally (recommended) will help improve the store's reputation;

3. Open a corporate bank account. Jumia sales will be directly deposited into the seller’s corporate bank account after deducting the platform commission;

4. Open an email account. Jumia will notify you by email whether there is a buyer placing an order for your product. It is recommended to use Gmail;

5. Submit an application to Jumia via [email protected]. You will then receive a form where the seller needs to submit relevant information such as corporate bank account number, email address, etc.

6. Sign the contract with Jumia, sign and stamp the contract and send it back to [email protected];

7. After the contract is confirmed, you can log in to the seller center. You need to go to the Jumia backend to set up "Your Profile", fill in the company's bank information in detail and save it. If you do not submit the bank information, you cannot activate the Jumia seller account;

8. Upload at least 20 products on the platform, with product pixels of 680×850px being the best.

References

• 1. Jumia platform introduction: Sohu.com [cited on 2018-03-21T16:00:00.000Z]
• 2. Jumia store registration on African cross-border e-commerce platform: Cross-border Knowledge [reference date 2019-04-17T16:00:00.000Z]
• 3. In 2016, Jumia became the first unicorn company in mainland China with a value of more than US$1 billion: Financial Times website [cited on 2018-03-21T16:00:00.000Z]
• 4. Jumia’s financing in 2013: tui18 website [reference date 2018-03-21T16:00:00.000Z]
• 5. Jumia’s revenue data in 2015: knowledge@wharton website [cited on 2018-03-21T16:00:00.000Z]
• 6. Jumia’s financing in 2014: Alibaba Cloud website [reference date 2018-03-21T16:00:00.000Z]