With over 167 million people living in Nigeria today and current internet penetration at approximately 30%, growing at an outstanding rate of 85%, there is more growth expected in the rapidly burgeoning online retail space.
The growing middle class makes up more than 23% of the population presenting opportunities for entrants to create a safe and dynamic online retail service.
This is why Morpheus Limited; the parent company and promoters of the e-commerce platform, developed Buyam.com.ng.
The site is essentially a platform for both B2B (Business to Business) and B2C (retail commerce) customers to access goods and services directly from the merchants at no additional costs.
One of the core objectives of the company is to create a web-based, global marketplace where a variety of products can be bought and sold.
The site covers Nigeria and will eventually expand throughout the African continent.
According to Emeka Mordi, managing director of the Company, “Buyam.com.ng is basically an online shopping mall which officially launched operations in April 2013. With over a 105 registered retailers; stocking everything from electronics, books, to fashion and health care, we fully intend to meet the needs of our rapidly growing customer base. Because we recognize that delivery is a key point of failure in this business, logistics will be handled by world class logistics provider, DHL Express and will be supplemented by our own in-house logistics company, Thanet Deliveries.”
Speaking on customer security, he said “Special efforts and measures have gone into fraud detection and prevention. Transaction repudiation and full consumer protection will be provided, so our customers can shop in a safe and secure environment.”
Buyam.com.ng presently has over 105 different retailers which include: SPAR (Park n Shop), Cash ‘n’ Carry, Nulec, Storm London, Tribes Art, DaViva, Kiki Kamanu, Mega Plaza, and a host of other brands spread across various sectors.