In this tech-driven era, many businesses would prefer to be online rather than offline. This applies more to E-commerce startups. However, this is not the case for Gloo.ng a leading e-commerce startup in Nigeria. It has decided to expand its business to offline.
The startup is doing this by establishing its first Gloo Fresh physical store in Nigeria which will be launched soon. This would be followed by more stores opened in 23 locations over the next two years.
Olumide Olusanya, the CEO of Gloo.ng said: “We have generally built up and enhanced the product and service offering since founding to capture a greater portion of this Average Monthly Housekeeping Allowances (AMHA) spend to Gloo. We believe we have now gotten to the point where we feel this is a product customer love.
“We believe we have passed the midpoint of AMHA for the typical middle-class family, considering what we estimate that to be for a typical Lagos middle-class family. It is a very sticky service. Hence, we have spent zero on customer acquisition these past two years. So whereas our growth so far has largely been driven by capturing more value from existing target customers by improving the service offering over a couple of years to achieve PMF, we now want to drive our future growth by capturing more numbers of potential target customers. We believe GlooFresh gives us the best opportunity to achieve that in a cost-effective means, asides other benefits and opportunities it presents to continue increasing AMHA captured.”