The global re-commerce market is poised for growth as consumers increasingly settle for pre-owned goods to save on cost, and as some observe conscious consumption.
With the global re-commerce market expected to continue its growth spurt, C2C marketplaces like Saudi Arabia’s Soum are looking to capture users in the Middle East and North Africa (MENA) region.
Soum was founded in the Kingdom of Saudi Arabia in 2021, and is now eyeing growth expansion to other MENA countries, beginning with the United Arabs Emirates.
Beyond expansion, the startup, whose top listings are electronics, is also increasing the categories it covers by including products like automobiles and collectibles.
This is the preposition that Soum brings to the table.”Soum manages the entire process from listing to delivery.
Last week, pan-African e-commerce platform Jumia said it was discontinuing its food delivery service, Jumia Food.
However, of all the streamlining efforts, its exit from the food delivery business across seven markets was the most unexpected.
This trend might persist with its exit from the food delivery business.
Jumia’s statement last week said that the company’s food delivery business wasn’t suitable to its market’s operating environment and macroeconomic conditions.
Also, how fast will the company grow the physical goods business to make up for this food delivery exit?
Pan-African e-commerce platform Jumia has disclosed its intention to discontinue its food delivery service, Jumia Food.
As a result, Jumia will cease its food delivery operations across these markets by the end of December 2023.
Jumia is redirecting its focus towards the core physical goods business and maintaining its JumiaPay operations across all 11 markets, as outlined in a recent statement.
Jumia’s decision to discontinue its food delivery business aligns with a broader trend in the industry, mirroring the recent exit of another food delivery competitor, Bolt Food, from Nigeria and South Africa.
Both exits seem to be influenced by current macroeconomic headwinds, high inflation and intensified competition within the food delivery sector across the continent.
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