Denis Opudo
BookMall is one of the merging e-commerce for selling and buying books. The platform enables authors and publishers to market their book. The system allows the creation of directory and listing of available books in various bookstores. It thus helps to increase market share through online presence of bookstores. New technology has shifted the marketing of books from convections stores to an online platform.
Ventures Africa report indicates that over thirty-three percent people bought books and CDs online in 2017. This indicates a large number of online book shoppers. The shift has forced bookmalls to joined other literature evangelisms who market their products through online platforms.
Oluchi Okere (CFO) and Joseph Anya (Founder) launched the BookMall early this year on the 8th January 2018. The founders generated the business idea from a mismatch between authors, readers, and booksellers. Subscribers are only allowed to access the platform products and services by signing and filling the registration form. The mall obtains its revenue by taxing five percent on all successful sale made.
The most distinguishing feature of the BookMall is its ability to offer totally free shipment for books worth ₦20,000 and above. Another characteristic is rewarding one point bonus to customers who purchase items worth more than ₦20. The accumulated points can be further used to buy goods and service on the BookMall platform.
Despite the benefits associated with the BookMall, the following three recommendations need immediate action. The first one is a continuous supply of books, lowering the cost of online books and creation of 300-400 physical bookstores. According to Joseph, the mall has reached out to many bookstores and is looking forward to in the near future. BookMall initiative has high potential to gain momentum growth by adding more features to the platform. The platform so far has made revenue worth ₦100,000 and above.
