Vogue Nigeria Online Marketplace

by

Augustus Nwangwu | Jul 5, 2020 | in Digital change-maker challenge | ICT applications

Define three specific objectives that you would like to achieve with your proposal.

We need to train, engage, empower, partner, and integrate at least 100,000 business owners, distributors and manufacturers as retailers into our platform in 5years.

To develop our idea better and outperform our competitors by deploying efficient and more affordable logistic protocol, large pickup stations with Point of Sale system, and affordable products.

Most important part of my application is that i want to leverage on Professional management and development services, mentor-ship and coaching, educational training, capacity building, and connection with influencers, industry leaders, and experts.

What problems (particularly in value chain competitiveness and global disruption) are your community’s stakeholders facing due to the Covid-19 pandemic?

One of the major problem is poor transportation and this effects mostly those living below $5 per day, as cost of transportation to the market is very high. Also existing eCommerce logistic costs are also not cost effective.

There are loads of big businesses and retail outlets out there doing well on physical store but are yet to tap into the e-commerce Industry.

Customers need a reliable e-commerce outfit that can offer them the flexibility to buy products in their preferred currency. There is need for customer to save up for a particular products to be reserved for them. A customer needs a reliable retail outfit that can offer true return and refund for product that does not meet his expectations or requirements.

Need for an e-commerce system that allows merchant to control everything about their store.

Nigerians need a true e-commerce system that will enable users buy original made in Nigeria products and services online from any location, and receive the products from the comfort of their home and office.

What minimum viable solution(s) are you proposing to address the challenge(s) in your community?

For Customers: Completed eCommerce website with complete checkout and customer management system. Our eCommerce platform will help customers browse through products and services in our catalog both the various retailers products uploaded in our robust eCommerce system. This will provide easy access to unlimited variety of quality products and they can buy from the comfort of their homes and offices.

We will deploy point of sale kiosk randomly across sub-urban and rural communities for customers who are not internet savvy to be able to order products online with the help of our agent and have them delivered faster. This will erase travelling the far distance into the city to buy their products.

For Retailers: Complete marketplace system built-in the website for retailers to register, upload the product and sell through the website. This will give their business more exposure to a larger communities and thereby generating more revenue. More importantly the retailers will enjoy much lower commission rate, more capabilities and better engagement compared to existing competitors.

Share your story (your narrative)

I have worked with some Corporate ICT Companies and Institutions in Lagos as consultant from my graduation till date. Also, I started up my ICT Company in 2016, which has served numerous clients in Nigeria and United States of America. My Company is dully recognized by the Tony Elumelu Foundation, which is the biggest entrepreneur pioneer organization in Africa, and I am among the 2019 Cohort, the program train entrepreneur and aspiring entrepreneur on 12 weeks mini MBA.

I inspire to make a better and bigger version of e-commerce platform that will stand out. The e-commerce system is going to be able to resolve every limitations that all existing e-commerce companies might have.
To power an e-commerce institution that will entice business owners and retailers(Merchants) to open a shop online to sell their products to customers from various countries and people outside their current neighborhood. To build an eCommerce system that will offer merchants the flexibility to sell to customers in other countries in their own native currency by switching to their preferred currency from the website and app.

Another most important part of my idea is that here in Nigeria is that a lot of good business here don't have any form of online presence, not that they don't want to but they have enough knowledge and exposure to integrate their business online. We organize periodic workshop to train and integrate small, medium and large scale business into our ecommerce business, including those in sub-urban and rural areas. I basically inspire to solve this problem and more, thereby offering users across Africa an unlimited capability.

We will implement a saving capability in our platform which will enable our customers to reserve a products and pay on installment for them. I aspire to make the business expand across several countries in Africa like South Africa, Ghana, Kenya and Rwanda.

Please provide any additional relevant information that you would like to share.

Our business is modeled to fit into time shift by apply changes, improvement and grow with changes in technology. We will provide a functionality for users to save up for a particular product they want to buy. We build and maintain the solutions ourselves, because the owner is an expert developer and entrepreneur in the field.
We are able to provide better customer care services. We provide best product for much lower price. We are always and continually improving our technology stack. Our team members are professionals in various parts of technologies that make up our platform.

Vogue Nigeria is built with high level of security in check. The platform developers observe secure coding standard, the system is backed up by powerful CDN technology. Security is one of the top priority while we scale.

REVENUE STREAM

1) Selling products from our inventory store: Our store inventory takes up a major priority in our revenue stream. We sell our various product for profit.

2) Collecting Sales commissions from vendors: All merchants enrolled on our platform pay a tiny percentage from their sales on the store.
3) Providing premium shipping service to customers: User will pay more for instant delivery packages which is lower than the actual value of the services.
4) Collecting handling fee for packaging the products

BUSINESS IMPACT

Vogue Nigeria will  have  impact  within  the  community  and  country  via:  
1.) Job opportunities  within  the  target  market. A  fully-fledged Vogue Nigeria will provide direct employment to over 500 people and indirect employment to  over  1000  people. Expansion to other areas in the country and beyond will multiply the numbers.  
2.)  The  business  would  also  generate  revenue  to  government through payment of taxes like personal income tax, company tax and levies from the federal, state and local government.
3.) We provide free training and workshop to enable potential merchants understand the benefit of selling online and how to take advantage of the system thereby creating more revenue opportunities for businesses in the community.

4.) Foreign Exchange Generation: Since Vogue Nigeria is an online platform, we  anticipate  this  will  help  generate  foreign  currency  and  have  a positive  impact  on  the  national  economy  of  Nigeria.

Your Final Proposal for challenge

yes