It was an idea and they came to “Tekedia Startup Masterclass: from startup idea to unicorn”. And over months, they refined their business model. They doubled revenue in June. And doubled again in July. Two things were catalytic (will hold those for their strategic competitiveness). Shoptreo is a pioneering B2B fashion retail platform in Nigeria, which connects fashion manufacturers (yes, tailors) in the informal sector to distributors.
Powered by the trio of innovation, customer-centricity, and pursuit of excellence, they have great results: “Shoptreo has witnessed a tremendous 521% growth over a span of 7 months. This exceptional growth can be attributed to the implementation of a community-based customer approach and retail finance, resulting in a 129% increase in user base over this space of time.
“This approach has not only facilitated targeted audience engagement and reduced marketing costs, but has also solidified Shoptreo’s position as a trusted player in the fashion retail market across various regions in Nigeria.” They operate in Kano, Aba, etc, scaling Made in Africa. And the forex crisis in Nigeria is helping since many people are going local since the foreign alternatives have become very expensive.
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Congratulations Emmanuel (Tochukwu) Jacobs and George (C) Uteh for the growth. And Good People, tell your fashion manufacturer (the preferred terminology here for tailors) to join the Shoptreo movement at shoptreo.com. They will turn that tailoring designer, shoe designer, etc into a businessperson with scale.
In this season, I am chronicling some of the startups which began life in Tekedia Institute. Dozens come here, yearly, and our impacts are huge. This is the temple where you master how to build in Africa!
(Photo: she owns a fashion company. Shoptreo distributes as much as she can make. Now, she gets finance to produce more.)
—Press Release
Shoptreo is excited to announce significant achievements and progress made in 2023
Shoptreo is the pioneering B2B fashion retail platform in Nigeria dedicated to bridging the gap and connecting fashion manufacturers in the informal sector to distributors. With an unwavering commitment to innovation and customer-centricity, Shoptreo aims to revolutionize the retail fashion industry.
Since its launch, Shoptreo has experienced remarkable growth and has reached important milestones, establishing itself as a prominent player in the fashion retail industry. The company’s continuous focus on innovation, customer-centricity, and pursuit of excellence has been integral to its success.
Shoptreo has witnessed a tremendous 521% growth over a span of 7 months. This exceptional growth can be attributed to the implementation of a community and referral-based customer approach and retail finance, resulting in a 129% increase in user base over this space of time. This approach has not only facilitated targeted audience engagement and reduced marketing costs but has also solidified Shoptreo’s position as a trusted player in the fashion retail market across various regions in Nigeria.
To better cater to its customers’ needs, Shoptreo has expanded its range of products and services. The platform now offers an affordable delivery option, ensuring the prompt and reliable shipment of orders. Furthermore, Shoptreo provides retail financing solutions that allow our retailers, especially SMEs and MSMEs in the informal sector, to receive goods upfront, with a portion available on credit. This strategic initiative minimizes recurring delivery expenses and facilitates efficient business expansion for customers.
The provision of flexible financing options by Shoptreo has not only enhanced customer loyalty but also improved customer retention. By enabling customers to have positive purchasing experiences through convenient payment options, Shoptreo has significantly increased the likelihood of customers returning for future purchases. This loyal customer base is essential for sustaining growth and driving profitability.
Shoptreo’s adoption of retail financing has attracted a broader customer base, allowing individuals to make larger purchases regardless of their financial constraints. As a result, the company has experienced accelerated business growth. Through effective management of cash flow and revenue, Shoptreo has been able to re-invest in marketing efforts, and customer acquisition. This has fueled the expansion of the business and facilitated sustained growth.
Shoptreo has also established vital strategic partnerships with top logistics companies, enhancing its capabilities in providing affordable and efficient delivery services. These alliances ensure an exceptional customer experience, characterized by swift and reliable order fulfillment.
Shoptreo takes pride in its expanding team, comprising industry professionals who share a common passion. The diverse expertise of the team members has played a pivotal role in propelling the company’s vision forward and achieving outstanding results. Shoptreo’s customer monthly conversion rate has increased from 27% to 31%, while the company have grown its gross merchandise value by over 100% in one month.
“We are thrilled by the substantial progress we have made in 2023. Our achievements reflect the hard work of our dedicated team and the continuous support from our customers,” stated Shoptreo CEO, Uteh George.
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