E-commerce has been one of the fastest growing sub-sectors in Kenya as consumers continually take to the internet to make purchases. This has seen a multitude of platforms emerge each seeking a slice of the lucrative market from online classifieds services such as PigiaMe and Olx to online retailers such as Jumia and Kilimall. The same growth has been replicated in several African countries including Nigeria and South Africa.
According to a report by KPMG, E-commerce has been growing rapidly in seven African countries including Kenya, South Africa, Ghana, Nigeria and others, where it accounts for 3% of GDP. The report states that this growth is set to scale, where e-commerce will make 10% of total retail sales in these markets by 2025. This will make a growth of more than 40% over the last 10 years. Part of this growth is attributed to the continued uptake of mobile devices, which has increased internet penetration. The spending power of most residents is also set to growth over the period, fuelling the acceleration further.
On the back of these prospects, Kenyan e-commerce retailer Kilimall has set its sights on the Nigerian market and has launched operations in time for Black Friday. Black Friday is an annual shopping festival that allows customers to enjoy massive discounts on various goods. Black Friday begun in the United States and has since grown into global phenomena with millions of shoppers taking advantage of the discounts. According to Tech Cabal, Kilimall is prepared to offer up to 70% discount for shoppers on Black Friday.
By taking advantage of the Black Friday festival, Kilimall will have a good launching pad for its platform.