Grocery.com

Grocery.com is an online grocery platform
  • Sector Food & nutrition
  • Country Nigeria
  • Founding date February 2020
  • Stage Idea
The Nigeria grocery industry is worth over $3.2bn. Nigeria have a population of over 200million with over 180million households which are our target customers. We acquire these customers through aggressive advertisement on various platforms.We Leverage on our subscription based revenue model to obtain strong customer lifetime value, these together with our free nutritional services makes us unique

General

Sector
Food & nutrition
Category
Consumer, Software
Product usage or interact
Mobile/Tablet (iOS), Mobile/Tablet (Android), Server software (ie, databases))

Business

Target customer
Nigeria's 180million households
Customer acquisition strategy
Through aggressive advertisement and awareness on all platforms
Revenue model
Our revenue model is the subscription model in which customers pay a recurring price at regular intervals to access our products and services

Market info

Market size
$3,200,000,000
Competitors
Competitor name
Competitor website
Jumia Foods
Mart.Ng
Competition
Jumia:Is an E-commerce company that sells and deliver products including groceries. Using jumia, customers still go through the stress of searching for a particular grocery online and also the stress of stalking these groceries in the refrigerator.
Mart.NG :is offers personal and convenient online groceries, foods and drinks shopping experience in Abuja, Nigeria. They are only based at the country's capital and they don't give diet guide for shoppers.
Startup traction
Active users :As a startup, our primary aim is to grow the number of users, especially the number of active users. By increasing our number of DAU (Daily Active Users) and MAU (Monthly Active Users), so as to gain strong traction.”Simone Timen of Jotform once said “For any startup, the most important marketing KPIs should be active users and churn rate. If those are healthy, revenue will follow.”
New sign ups:Initial customers are necessary for us to prove market acceptance and validate product-market fit.It also provides us the much-needed confidence to work harder and produce results Thus we've worked so hard to obtain new sign ups and presently we have more than 100 Sign ups.
Return of investment (ROI) :it helps us to know how much revenue we get from every dollar we spend

Total early investment
$1,000,000
Shareholder structure
Owner type
Name
Equity
Patrick Okoye
Founder
% 90
Victor Chidera
Family
% 10
Investment round
Angel Investment
Investment amount
$1,000,000
Equity on offer
% 30.0

Team

Patrick Okoye  - Nigeria
Total team member
6
Comment
Grocery shopping in Nigeria has been an expensive and tedious ventures that only the wealthy with servants shop groceries effectively. Thus many Nigerians don't go shopping for groceries there rather go to neighbourhood stores to pick the items they need to prepare meals at that point in time.. Also many Nigerians are ignorant on the type of diet suitable for certain people such as diabetic patients. With our services we help our customers solve these problems by making grocery shopping stress free and affordable thereby encouraging more Nigerians to shop groceries. It also helps our customers to reduce the risk of Of worsening certain disease condition such as diabetes through proper food choices
Last update: 11.09.2020