Business owners or founders are always searching for insights and knowledge of the latest trends in technology, marketing, operations etc., to help scale their businesses.
While searching for these insights, they often go on business media platforms, white papers, seminars, courses at business schools etc. Most, however, forget one of the most critical sources of insightful business lessons; from the competitors.
Competitors, however, do not give out insights for free, and definitely not to other competing brands, no matter how generous they might be. However, brands do release materials that have clues in them. A financial report is one of these materials, and that is why we are looking to draw e-commerce lessons from Jumia’s Q1 2022 financial report, which was released recently.
Jumia is a pan-African e-commerce company founded in 2012 in Nigeria; the internet marketplace is now in 14 African countries. Jumia is the undisputed leader in the e-commerce market, with some calling it Africa’s Amazon.
With its status as a market leader, the industry studies its every move, and we are doing the same from its latest financial performance report.
These are three things we can take from the report.