Kaiglo, a marketplace that brings consumer’s favorite market closer to them through online trading and helps entrepreneurs build brand recognition, has announced that total users have crossed 50,000 in the last one year since it started operations.
Similarly, it recorded over 200 per cent growth rate in merchants’ enrolment since the first quarter of this year.
This was disclosed by the Kaiglo’s co-founder and CEO, Mr. Victor Chukwuebuka Eze, during a press conference as part of activities to mark the first anniversary. Kaiglo launched operations in Lagos one year ago and has since recorded over 1,000 merchants registered on the platform.
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 favorite markets closer to them, no matter the location.
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 per cent to 200 per cent 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 1,000 merchants registered on the platform. Our monthly sales growth increased from 50 per cent in fourth quarter of 2019 to 175 per cent in the second quarter of this year.
“Kaiglo has successfully processed and delivered more than 15,000 items in the past one year, with more than 70 per cent delivered in Lagos alone where it currently has most of its operations.”
The CEO also disclosed that 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 for 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 advanced that optimisation is being done at every step in order to reduce delivery time”.