Online trading platform Jiji expands globally, focusing on the burgeoning e-commerce sector in Bangladesh.
Jiji, the popular African e-commerce platform, is making its first foray beyond the continent, setting its sights on Bangladesh. This move marks a significant step in Jiji's global expansion strategy, following its successful ventures in Nigeria, Kenya, Ghana, Uganda, Tanzania, and seven other African countries.
In 2019, Jiji raised $21 million and acquired OLX Africa, a move that propelled the platform into new territories. More recently, in 2022, Jiji acquired Tonaton, its main competitor in Ghana, further solidifying its position in the African e-commerce market.
Bangladesh, a key player in the Asia-Pacific e-commerce market, presents an attractive opportunity for Jiji. The South Asian nation boasts 131 million internet users and a growing demand for digital shopping. The government of Bangladesh has introduced national ICT policies to guide the development of the digital economy, including e-commerce.
Jiji views Bangladesh as a logical next step for expansion, aiming to increase its 12 million monthly active users. To achieve this, the platform is likely to employ strategies similar to those that have proven successful in Africa. These strategies may include localising operations with tailored product offerings and services, leveraging partnerships or logistics improvements to ensure fast delivery, implementing secure payment systems aligned with local regulations, aggressively marketing via social media and digital platforms, enhancing customer service and dispute resolution to build trust, and offering competitive pricing and promotions targeting local consumers.
However, Jiji's specific strategies for competing in Bangladesh's e-commerce market remain unclear at this time. The platform's entry into Bangladesh will place it in direct competition with established players such as Daraz, Bikroy, and Ajkerdeal.
In the past, Jiji has partnered with phone manufacturers to preload its app on affordable smartphones and struck deals with mobile network operators like Airtel to offer data-free access to its platform. These strategies could potentially be replicated in Bangladesh to gain a foothold in the market.
Jiji's expansion into Bangladesh is an exciting development in the global e-commerce landscape. As the platform continues to grow, it will be interesting to see how it adapts its successful African strategies to the unique challenges and opportunities presented by the Bangladeshi market.
Technology plays a crucial role in Jiji's e-commerce growth, as the platform employs various strategies to ensure smooth operations and user-friendly experiences, such as localizing operations, partnering with phone manufacturers, and leveraging mobile network operators.
The entry of Jiji into Bangladesh's e-commerce market underscores the potential for technology-driven growth in this sector, as this fast-growing Asian nation presents an attractive opportunity due to its expanding digital shopping demand and government support for the digital economy.
