Open Retail operates the WAZOBIA Marketplace, a B2B platform that connects convenience stores and wholesalers in Nigeria, facilitating the online sale of fast-moving consumer goods. The platform also offers inventory financing options and logistics support, addressing the challenges of sourcing and delivering products efficiently for retailers.
Funding
Funding not disclosed
Founders
Product
Problem
Small retailers in Nigeria often struggle to efficiently source and finance their inventory of fast-moving consumer goods due to fragmented supply chains and limited access to credit. This can lead to lost sales, reduced profitability, and difficulty competing with larger businesses.
Solution
WAZOBIA Marketplace is a B2B e-commerce platform that connects convenience stores and wholesalers in Nigeria, streamlining the procurement process for retailers. The platform provides a centralized marketplace where retailers can source a wide variety of consumer goods from multiple wholesalers, compare prices, and arrange for delivery. Additionally, WAZOBIA offers inventory financing options, enabling retailers to purchase goods on credit and improve their cash flow.
Target Audience
The primary target audience is convenience stores and small retailers in Nigeria seeking a more efficient and affordable way to source inventory.
Features
- Online marketplace connecting retailers and wholesalers of fast-moving consumer goods
- Multi-category product sourcing across multiple wholesalers
- Integrated logistics support connecting retailers and wholesalers to 3rd party logistics providers
- Inventory financing options for retailers, including "buy now, pay later"
- Mobile app for convenient access and ordering