Wabi2b Proposes To Digitize Nigeria’s Traditional Trade Channels

Wabi2b Proposes To Digitize Nigeria's Traditional Trade Channels
Wabi2b Proposes To Digitize Nigeria's Traditional Trade Channels

Wabi2b, the company’s B2B arm, is a marketplace that allows all FMCG wholesalers and distributors to sell their products directly to retailers and traditional stores.

According to a McKinsey report titled “Africa’s Growing Giant: Nigeria’s New Retail Economy,” there is a $40 billion growth opportunity in food and consumer goods in Nigeria from 2008 to 2020.

According to the International Labour Organization (ILO), the retail sector employs at least 142 million people in developing countries. Retail employment accounts for 10% to 15% of the job market in any given country.

Given the importance of the retail industry to the Nigerian economy, the opportunities would be multiplied by bringing traditional stores online.

Omolara Adagunodo, Country Manager, Wabi Nigeria, stated that Wabi2b is the brainchild of the Coca-Cola Company, but the benefits are not limited to the company.

She stated that the platform’s goal is to digitize the route-to-market for all FMCG companies, and that “most importantly, we want to help our retail partners, including small shops on the street selling FMCG products.”

“These are the people on whom we are most focused because they are the ones who require the most assistance in being digitised first.” When we think back to the COVID era, people were too afraid to shop in stores. As a result, shopping online was convenient for them. This places small grocery stores at a significant disadvantage.”

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They were not online, and as a result, they lost to businesses that could sell and buy products online.

“Wabi2b is thus an ecosystem that was designed for this time to ensure that all retailers, no matter how small, have access to transact online.” We are doing this to empower millions of Nigerian families and women. Women make up 95% of our retail partners. These are the individuals who must buy and sell on a daily basis. These are the people for whom we work tirelessly to make their purchasing process as simple as possible so that they can increase their revenue and compete in the digital age. We are currently operating in Lagos, with plans to expand to other states in the coming year. You can get our app from the Google Play Store.”

“Wabi2b is a digital platform where wholesalers can sell directly to retailers,” said Chimezie Ugwuzie, CEO of Wabi2b. On the platform, we have over 10,000 retailers. We guarantee them a delivery time of 48 hours. Retailers can also compare prices and profit on the platform. As a result, Wabi2b enables retailers to buy at the best price, resulting in incremental sales.”