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    How to Start an E-Commerce Marketplace in Nigeria?

    Updated 2 December 2022

    Thinking of starting an e-commerce marketplace in Nigeria. Do you know? The world’s most valuable companies include most numbers of business organizations which are originally e-commerce marketplaces in themselves. 

    Some of the most popular examples are namely, Amazon, Alibaba, and Tencent and now even social media companies like Facebook have opened the door to the Facebook Marketplace.

    Realizing the advantage of the online marketplace and as easy it is. On top of all, it’s already generating a humungous revenue. 

    Initially, you might be thinking that’s it difficult to open up such an e-commerce marketplace in a country like Nigeria. Moreover, running it alongside a minimum of financial resources.

    That’s exactly what this article revolves around. We would like you to know how easily you can open up a successful e-commerce marketplace in Nigeria and reveal all the key unknown information behind it.marketplace-in-nigeria

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    Why Launch a Multi-Vendor E-commerce Business in Nigeria?

    Whether you are an individual owner of a shop or a well-established business organization. Located within or outside of Nigeria. You can start a multi-vendor e-commerce store in Nigeria. 

    Before discussing how you need to know what are the perks of it and exactly why we recommended so.

    For that, you need to know that currently, with a population of over 200 million citizens, Nigeria accounts for the maximum share of the whole African economy. 

    Though it’s a developing country still almost fifty per cent of the population has access to internet connectivity and the number is most likely to grow exponentially at a huge rate in the coming years. 

    Moreover, the service sector is the most thriving department in its economy. Hence online marketplace based on hyperlocal grocery, food delivery or basically instant delivery all such businesses have ample space to grow.

    Finest existing E-commerce Marketplace in Nigeria

    Though there aren’t many Nigerian e-commerce marketplaces, still all of the existing ones are performing really well in terms of the user experience they are providing along with the products/services being offered.

    Further ensuring that opening an e-commerce marketplace in Nigeria is good for your business. Some of the great e-commerce marketplaces are given below.

    Jumia Nigeria: It is the most visited e-commerce store. Initially launched in the year 2012 also called the of Nigeria.

    Konga: Nigeria’s online megastore procures large warehouses and is considered to be extremely good with its product delivery and speed. Even small businesses can list and sell their products on the platform.

    Printivo Store: is an online marketplace it helps designers and print providers to generate revenue by selling online their prints and designs to customers all across the country.

    Kusnap: is an e-commerce store present with millions of buyers and sellers nationwide. It’s completely free to use and further, allows its users to chat to buy. You can sell almost anything on the platform ranging from gadgets to fashion items or kitchen wares.

    Key Measures for Store Owners to Open a Marketplace in Nigeria

    Though, based on whatever type of business you are involved in, eventually, it requires a lot of features and marketplace extensions to facilitate your customers and sellers registered across your platform. 

    But we always suggest that the store owners should start with the minimum viable product i.e working for customers and then based on the intermediate requirements can scale it with additional features. 

    We are going to discuss all of the basic requirements but before that here is the first step.

    Register Your E-commerce Business in Nigeria with CAC

    Store owners are required to register their business or company with CAC (Corporate Affairs Commission). In order to open up a bank account. and obtain other legal documents that will be required in running the business.

    The online payment gateways and marketplaces you may want to incorporate in your e-commerce store in Nigeria. Requires that your business gets legally registered especially as a means to fight against cybercrimes.

    Selecting the Cost-Effective & Most Advanced Platform

    Opensource software has made it possible for almost anyone to get an affordable solution for their e-commerce marketplace with easy options to integrate as many as additional features. Thus, 

    • Reducing the overall support cost.
    • Store owners don’t need to have any coding knowledge.

    Some of the platforms that you can select are WordPress, WooCommerce and Magento are written in PHP the modules are easy to install and come with attractive themes and features. 

    A further option is Shopify. It is a proprietary online and retail e-commerce solution. i.e the users cannot modify the source code and will have to wait for the company to add new features. 

    Prestashop is open source and can be installed on a web host that supports it. It offers similar features as most e-commerce solutions but requires a little more technical knowledge to extend its functionality.

    Some other excellent e-commerce marketplace platforms that we build and offer here at Webkul are: 

    • Bagisto
    • OpenCart
    • PrestaShop
    • CS-Cart

    Let Webkul Set up your Own E-commerce Marketplace in Nigeria

    Whether you wish to open a B2B or B2C Marketplace connecting the suppliers and business and making transactions or either your own marketplace store, where you can let other sellers sell their products along with you.

    Who else is better to build your e-commerce platform than the one which is not just a best-seller (Webkul)? 

    Moreover, the most awarded company for providing the best marketplace platforms with innovative features and customized available updates. 

    An online marketplace is a place where store owners can open up a shop or store in which Multiple Vendors can register and become a partner and sell their products on the same platform. 

    How Webkul is Helping to Create an Effective Marketplace?

    Globally various business organizations are our customers and we have helped our customers with the most affordable solutions for their e-commerce marketplaces. Here is one example.


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