Olajumoke Oshinowo is a cooperative and business management graduate of the Olabisi Onabanjo University with years of experience in administration, real estate and multi level marketing. She’s been in the e-commerce space since 2018, selling household, kitchen, fashion, beauty and health care products on various platforms. And also been privileged to work in one of the leading real estate firm in Nigeria.She owns Jumosh — an online retail store , where they sell varieties of household, kitchen, fashion, health care and beauty products. Enjoy her chitchat with Ediale Kingsley.
What are the gaps in Nigeria’s e-commerce industry?
The E-commerce industry in nigeria has come a long way and has recorded some success, although, there are still some draw backs which I will put in 2 Buckets. Firstly logistic gaps, The importance of excellent logistics in any business or industry cannot be overstated, an e-commerce success, or lack thereof, is hinged on a reliable delivery service and secondly, lack of trust between merchants and buyers is another crucial factor that hinders the successful workings of an e-commerce business. Also the rise in fraudulent online activities, sometimes known as cybercrime, is one of, if not the most, significant constraints facing Nigerian e-commerce industry.
How will you rate the performance of the e-commerce industry in Nigeria?
The e-commerce industry is flourishing. Nigeria has one of the biggest internet economies in Africa, with the continent’s largest population and one of the youngest worldwide, Nigeria’s e-commerce is expected to reach $10bn by 2050. These statistics give a good prognosis of the continuous existence of the sector.
Most operators in the e-commerce sector sell foreign products, how can we localise the product offerings?
For us to localise the product offerings in the e-commerce sector, the quality and value of local products must be improved upon in order to match international standards. Standardisation of local products will bring about competitiveness with foreign products and then we can talk about it been substitutes.
What propelled you to start Jumosh ?
The e-commerce space is a very large space, with few players at the moment, so my passion for meeting customers need and I used to be a vendor for a popular e-commerce platform, but the exploitation of vendors through various commissions and incessant hike in commission propelled me to start jumosh.com.
Tell us a bit about your background.
I am a cooperative and business management graduate of the Olabisi Onabanjo University with years of experience in administration, real estate and multi level marketing.
I have been in the e-commerce space since 2018, selling household, kitchen, fashion, beauty and health care products on various platforms . I have also been privileged to work in one of the leading real estate firm in Nigeria.
What business principles from your past experiences are you implementing?
I have been engaged in a couple of businesses before now, and I also sold as a vendor on various e-commerce platforms, this has given me the opportunity to learn and I have modelled Jumosh based on my experience in business management inorder to satisfy customer needs and give them value for thier money in terms quality and timely delivery.
Tell us more about Jumosh?
Jumosh is an online retail store , where we sell varieties of household, kitchen, fashion, health care and beauty products. At Jumosh we are committed to delivering quality, reliable and affordable products to our customers, without them, breaking the bank. Customers are guaranteed timely delivery of goods.
We are on Facebook as Jumosh stores, on Instagram as jumosh_store , you can also visit us on www.jumosh.com
How do you plan to remain competitive?
We are committed to continuous innovation in term of product listing, quality, pricing and timely delivery inorder to keep growing the industry until Jumosh becomes a household name in the industry known as a one stop online retail store for household, kitchen, fashion, beauty and health care products.
What can the government do to instil growth in e-commerce industry?
Government should provide enabling environment for businesses to thrive through the provision of infrastructures like steady power supply, efficient transport networks and security inorder to encourage the survival of these businesses. Also government can help in funding to encourage startups.
Is cyber fraud a challenge in the sector?
This is a major challenge in the e-commerce sector requiring huge investments by operators to safeguard their platforms and it is a threat to the potential customers.
Have Nigerians improved in the use of online payment system?
Yes, The likes of PayStack, eTranzact, flutterwave, Remita have greatly helped because they are secure, efficient and easy to administer.
What expansion plans do you have for the business?
At Jumosh, our vision is to become an household name synonymous with quality, reliability and affordability when shopping for household, kitchen, fashion, beauty and health care items. There are plans to expand our footprint across the shores of Nigeria in the next 5 years.