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Me2U

Executive Summary
"If, at any time, it comes into my head, that a present is due from me to somebody, I am
puzzled what to give, until the opportunity is gone." Ralph Waldo Emerson "Gifts," Essays,
Second Series (1844).

In the 160 years since Emerson made this statement, certain things haven't
changed: some of the most successful businessmen still have trouble
purchasing gifts for their wives, fiances or girl friends. While some things
don't change, fortunately others - such as technology that can make the giftgiving process easier.
Me2U is an online Gift shopping mall designed to be the go to destination for
online gift purchases and delivery in Nigeria. The Company is located in
Ikorodu, Lagos Nigeria.
Our mission is to provide avenues for Nigerians to order gifts for their loved
ones from the comfort of their homes, phones, iPads or Clothes without going
to the stores. Me2U is an easy to use website with an efficient delivery
system.
Our niche is in the gift box / wrappings that will be provided with every items
sold. We will provide the customer with a shopping experience that is
beyond their imagination while on our site. They can select their gift
wrapping, ribbon color , greeting card and a customized message of their
choice. The site will also feature an online gift registry. Customers can
register online and pick items of choice and then provide their friends or
relatives email address and phone number. We will send them an email or
sms to the friends or relatives on their behalf.
Me2U is the first of its kind in Nigeria and we intend to leverage on this
through an aggressive marketing strategy.
Me2U believes there is an opportunity to use technology to make it simple
for
Nigerians to easily purchase Gifts, with delivery on days they determine in
advance, for their loved ones.
Me2U operations will be inventory free in Phase One largely due to funding
and lack of technology to prevent warehouse thefts. By Phase two we would
have been able to source our own retail products that we can resell on the
site.
OBJECTIVES:

To reduce the burden of gift buying on corporate executives and middle


income earners
To cultivate the habit of giving amongst Nigerians
To create an avenue for Nigerians to know the essence and value of gift
wrapping.
Help people decide what to give on occasions

Mission
To become the first and largest online Gift Shop in Nigeria. By using
technology we will leverage on the existing broadband market that is fueling
the online shopping explosion in Nigeria. We will build a brand based on the
needs of our customer while preserving the trust that they entrusted in us.
The company will use sophisticated marketing techniques to secure a core
clientele of executive businessmen, corporate accounts, middle class and
students and will differentiate from other traditional on-line brands with a
state of the art Gift Registry and Gift Wrapping System.
Me2U is dedicated to operating with a constant enthusiasm for learning,
being open to implementing new ideas, and maintaining a willingness to
adapt to evolving market conditions.

Keys to Success
Online shopping is becoming quite popular in Nigeria due to its relative
convenience and the reasonable prices of goods and services available
online. In a city like Lagos with an estimated population of 21 million people,
the conventional means of shopping which usually involve physically visiting
the store can be tedious and time consuming.
Internet Access: Online shopping involves the purchase of products and
services from a seller, over the Internet. Therefore, the Internet is the
channel through which online shopping takes place. As a result, the growth of
the online shopping sector in Nigeria is directly linked to increased access to
the Internet.
Using technology to develop loyal, frequently-buying corporate clients
instead of traditional, walk-in retail shoppers.
Designing an Innovative Gift Wrapping System that uses a
combination of technology and artistic skills that is innovative and top of the
line,

Communicating with potential customers through direct mail, print


advertising and an
easy-to-use website.
Establish excellent vendor/supplier relations that will facilitate quick
shipment of orders.
Sell products the customer desires and are of the highest quality.

The market segmentation is categorized below:

Middle, upper-class, educated males and females.


Quality-conscious/ value-conscious individuals.
Family oriented individuals.
The ideal customer we expec t to serve is:
20-75 Years of Age
Educated
Homeowner

We will attract these customers by offering unique and uncommon product


selections not found in the mass-market retail stores.

Market Analysis Summary


Online shopping is becoming quite popular in Nigeria, due to its relative
convenience and the reasonable prices of goods and services available online
The three major shopping malls currently in the city the Palms Shopping
Mall, Ikeja City Mall and Adeniran Ogunsanya Shopping Mall are frequently
filled to capacity during peak shopping hours. In addition, Lagos traffic,
difficulties with parking and long queues can create further complications
with the traditional shopping process. Online shopping and e-retail in general
is further driven by the Central Bank of Nigerias cashless policy, which
seeks to reduce the use of physical cash and increase the adoption of various
electronic portals for financial transactions.
According to a recent survey, the local online shopping sector grew from N49.9
to N62.4 billion between 2010 and 2011, and from N62.4 to N78 billion
between 2011 and 2012, representing a 25 percent increase in each period.

Industry Analysis
Online shopping involves the purchase of products and services from a seller,
over the Internet. Therefore, the Internet is the channel through which online
shopping takes place. As a result, the growth of the online shopping sector in
Nigeria is directly linked to increased access to the Internet.
Rising numbers of Internet-enabled devices and decreasing costs of Internetenabled mobile phones, along with the desire to connect with loved ones are
all drivers for increased Internet adoption in Nigeria. The consistent surge in
the number of Internet users in the country, from 200,000 in the year 2000
(0.06 percent Internet penetration) to 57 million users in 2012 (32.88 percent
Internet penetration), has positioned Nigeria as one of the fastest growing
Internet consumer markets in sub-Saharan Africa (Fig. 2).

Competitions

Jumia (www.jumia.com.ng)
Jumia is one of Nigerias leading online shopping destinations, and was
launched in June 2012. At the time of printing this report, it is currently the
19th most frequented site in Nigeria, and the second most visited online
shopping website, according to Alexa Internet6. In addition, between the
months of May and June 2014, Jumia received an estimated 4 million visits to
its website, according to Traffic Estimate7. Owned by the German ecommerce company, Rocket Internet, and telecommunications companies
Millicom and MTN, Jumia is reported to have secured $50 million (approx. N8
billion) in funding since its launch two years ago. With a 90,000 square foot
warehouse in Lagos, and over 500 delivery vehicles, this online shopping

giant is able to offer customers in virtually every state, a wide range and
number of products.

Konga (www.konga.com)
Konga is another major name in the Nigerian online shopping sphere, and
was launched shortly after Jumia in July 2012. According to Alexa Internet, It
is currently the 17th most frequented website in Nigeria, and the number
one most visited online shopping site in the country. Furthermore, Konga
received an estimated 4.5 million website visits between the months of May
and June 2014, according to Traffic Estimate.
Kongas product list is similar to that of Jumias, and includes electronics,
fashion items, beauty and healthcare products, books, music, movies,
games, food & drink, household and office appliances, toys, and groceries.

DealDey (www.dealdey.com)
DealDey Limited was one of the first online shopping platforms to be
launched in Nigeria, with operations beginning in March 2011. Unlike Jumia
and Konga, it offers products and services to customers at wholesale
(i.e. heavily discounted) prices, with services ranging from restaurant and
hotel deals to spa sessions. With the main hubs located in Lagos, Abuja and
Port Harcourt, DealDey is able to deliver products to most of the major
cities in Nigeria. According to Traffic Estimate, DealDey received an
estimated 1.5 million visits between May and June 2014.
Other popular online shopping destinations in Nigeria include Kaymu, Buyam,
Taafoo, Adibba, OLX, Gidimall, Webmall, Fashpa, Gloo, Egole Shopping,
Shoppi.ng, Shopaholicng.com, Mystore.com.ng, Naijastyles.com,
Buyright.biz, Forever Living, and scores of other emerging online shops.

Strategy and Implementation Summary


Me2U will develop product offerings and marketing strategies to increase its
customer base while driving sales and profit. The following sections review
the various strategies that will support this effort.

Marketing Strategy
Me2U will focus its marketing efforts by advertising through various digital
and social media networks. We will use TV, Radio and BRT buses to push our
ads.

We will offer varieties of Gift Wrappings and Greeting cards that is suitable
for different occasions and can be customized.
We will also increase consumer awareness, retain the existing customer base
and promote
Sales via SMS marketing, Seasonal Postcard, Email Marketing and Newsletter
mailings. The mailings will announce special events or holiday specials
during the year. These events will be used to sell slow-moving products and
vendor special promotions. This means our marketing resources will be
centered around both sales promotions (events, displays) and personal sales
(customer service, friendly atmosphere).
Me2U will offer coupons for every N10,000 spent. The coupon can be used by
the customer on future visits to the store.

Sales Strategy
Me2U will approach sales from a salesperson-customer relationship basis. All customers will
be assisted in a very personal manner via online Live Chat or via the Phone. Gathering key
customer information and seeking performance feedback on the products and services
offered will assist us in the following ways:

Targeting our marketing efforts more effectively.


Developing product offers and merchandising formats that will increase
sales.
Developing services that enhance the shopping experience.
Increase awareness of Me2U within the retail online marketplace.
Develop future sales opportunities that allow for continued growth of
the business.