Startups
[Opinion] How an Egyptian e-commerce website convinced me to buy
An Egyptian website, while I wasn’t even in Egypt, convinced me to buy online for the first time. The Giftery is what my credit card desires.
So before we go into the details, let’s just set one fact straight: This is not a sponsored post 🙂 I have received nothing from this website; although if I do receive something after this, I absolutely will not turn it down. Just saying.
I actually had a fallout with them because they mishandled an order and they didn’t deal quite well with it. Ups and downs to everything.
Let me start by giving you a brief background about me. I’m not very keen on online shopping. I’d say annually, I have an average of 2 transactions. I don’t like shopping online unless it is absolutely necessary. Plus, the 2 transactions I made last year for example, were very basic you-can’t-get-this-wrong type of purchases: a USB Flash Drive and a mobile cover.
I got to know about a great website, called the The Giftery in 2012. It was my friend’s birthday in Egypt and I was all the way across the globe in the US. I really wanted to buy her something, and to avoid asking for favours from anybody, I stayed up late on Google, searching frantically for ideas on what I can do. Behold, when I found the giftery.com because I needed it, would it convince me that from now on, I would complete 2 online transactions for myself, and another 599 gifting other people! Shopping for other people is a need, whether it is a special someone’s birthday, an anniversary, a baby shower etc. Online shopping for yourself on the other hand, has a wider spectrum: ranging from I really need this to this might look cool to find in my wardrobe (a want). My theory is that online gift shopping has a more inelastic demand than shopping for yourself.
There are plenty of reasons why I still use The Giftery to this day. Sometimes, when I feel like I deserve a bit of pampering, I buy a gift and deliver it to myself. It comes all nice and wrapped and not in ugly brown cardboard boxes. Let me tell you the five reasons why I still use The Giftery as my main source of online shopping, despite being a little bit more expensive than others.
1) The Giftery is full of extremely exceptional products
You will find the necessities, such as kitchen products, but you will also find handmade crafts, customized towels, cards and so many others that make each product very special. Furthermore, they have so much brands with a cause: environmental and helping out on social causes. Want to add something to the gift package? Flowers? Check. Gift cards? Check.
For a friend’s wedding gift, I bought them two customized bathrobes with their initials and “Mr and Mrs” for each one. When one of my friend’s was really sick, I got her some home decor and a scented candle delivered right to her doorstep. Each gift can be exceptionally unique to your gift recipient.
The Giftery also have a bot on the homepage that filters the gifts according to the price, event, gender and age group of who you’re buying a gift for! The menu’s categories can even give you ideas on what to buy: because the products are so unique, you’re bound to find something that stands out.
2) Efficient delivery system
A crucial point in being an effective ecommerce website is delivering up to your promises; what you say online must happen offline. The Giftery specifies for each and every product the estimated time it will take to deliver, which also depends on the time you place your order. When checking out your cart, you specify the address of the person to whom your sending the gift to, The Giftery will then contact the gift recipient to schedule an appropriate delivery time and location. You can also get it delivered to your home address, and pay cash on delivery as well. Why rage through City Stars for a gift, when you can get a great gift, possibly even customised, delivered to their doorstep without the traffic and the hassle!
3) Not a JACC (Just Another Copy Cat)
Sometimes I feel like all ecommerce websites look exactly the same. When I hear about another ecommerce website, all I hear inside my head is ah, is it a JACC? Is there anything different? I like that The Giftery looks completely different. The categories are not ordered like a systemized supermarket aisle. I like how they give prominent exposure to the different suppliers.
The other reason why The Giftery is not a JACC is because it’s very localized to our needs and culture. The only reason I knew about Black Friday was because I spent some time in the US. Now that I’m back in Egypt, there is no way I’ll remember when it is on my own. However, Black Friday is now becoming popular in Egypt’s ecommerce websites. I’m not against that, but I like how The Giftery also is about celebrating local festivals, and puts their sale prominence during these times.
The Giftery also has features to curate gift lists: baby showers, house warming, weddings, etc. You can even buy Ramadan decoration, plan Santa visits for Christmas or a special Mother’s Day surprise! I understand that *gift websites* are available in so many other countries and this is not the pioneer; but I do give it points for standing out from current ecommerce websites available in Egypt and for its on-par localization of such an idea.
4) Call Center is a Human Who can suggest Gift ideas
We’ve all called an ecommerce website before after using it asking about a product, wanting to return it or for any other reason. Then answers the bot machine who is sometimes difficult to deal with, and sometimes it takes ages to get to the person who can really help you. What I really like about The Giftery is the phone number is person who answers, who knows almost everything about the ins and outs of the website and your order. Furthermore, YOU CAN EVEN ASK THEM FOR GIFT IDEAS! It’s human enough to make recommendations! You can also make your gift even a little bit more special by asking them for special packaging or arrangements. You will not need to practice samurai skills with kitchen knives to extract a gift from the bubble-wrap carton monster. It is delivered looking like a gift.
Truth be told, I have experienced a scenario where they didn’t deliver a gift packaged the way it looked like in the picture. I called and complained. It wasn’t dealt with smoothly. It’s not all perfect, but most of my orders were perfect.
5) The website is subtle
Usual ecommerce websites have an aggressive homepage with SALE, LAST OFFERS, DEALS, THINGS EVERYBODY HAS BUT YOU DON’T, STOCKS RUNNING OUT. SCREAMS! I like The Giftery because it gives me this fake sense of I’m buying this on my own and I wasn’t led to it. When buying from other websites, it makes me feel like I didn’t need to buy it, but it seems like it’s a good sale so I’ll get it. However, The Giftery has a subtle way of providing balance: in the colours, the highlights of the homepage, the menu and even the checkout process. It does not throw products at me everywhere all the time. So stealth is The Giftery; I don’t feel the missing heart beat when I get the security text from the bank for using my credit card. I usually do feel the missing heart beat though with regular ecommerce websites.
Now that I’m back in Egypt, I don’t do online shopping as much as I did in the US, because delivery is a hassle. You won’t find the items at your door or in your mailbox. You have to plan to be somewhere at an exact time, and then wait for a call. If you’re at work, it’s annoying sometimes because you’re in a meeting and you won’t remember that this unknown number is the delivery man waiting for you at reception. There’s always going to be the stare as well of, “Do you know how long I’ve been waiting here for?” The Giftery lifts this hassle off me, because I don’t worry about the delivery, the recipient does. When I order for myself though, there is this similar hassle across ecommerce websites with the delivery.
Many Egyptians have great ideas, that will stand out globally. The Giftery is one of my favourite websites, and I’ve been using it for about four years now. It was the reason for my first online transaction in 2012, despite being in the US. Without it, I wouldn’t have then checked out Amazon!
Online shopping is hardest and ugly the first time (just like so many things in life – I’m thinking coffee here). Once you lose your ecommerce abstinence, there’s no going back; like an addiction. The choices available will always have you coming back for more, and thinking about the second hidden value in online shopping: you’re also buying time (and lots of it if you’re in Cairo).
Startups
Rising from Debt: Al Nashmiah Farms’ Battle to Empower Indebted Women
Al Nashmiah Farms, committed to aiding women burdened by debt and facing the threat of incarceration, offers a novel solution for them to earn their way to freedom. Under the leadership of Razan Harb, motivated by her family’s financial struggles, the farm has become a pivotal force in rescuing those ensnared in the debt trap, providing them with employment and a sense of purpose.
Harb, observing the plight of many women who took loans in hopes of improving their families’ fortunes, only to be overwhelmed by unfortunate circumstances, economic downturns, and oppressive taxes, has established a farm that serves as both a source of employment and a supplier of high-quality produce to major markets.
The farm’s operations include the provision of household essentials, emphasizing the importance of quality through methods such as nitrogen sterilization and the use of healthy packaging. Additionally, Harb has initiated work-from-home opportunities, enabling women to engage in the packing of vegetables and fruits for market and direct sales, thereby offering a sustainable model for economic independence and recovery from debt.
News
GoDaddy’s Global Markets VP Predicts Egypt’s E-commerce to Hit $9.88 Billion by 2028
Selina Bieber, the Senior Director of Global Markets at GoDaddy, has predicted a significant increase in Egypt’s e-commerce revenue. By 2028, it could reach $9.88 billion.
Godaddy is forming strategic partnerships and launching initiatives to help local entrepreneurs. These efforts align with Egypt’s digital transformation goals and its Vision 2030.
In an interview with the Arabic financial news “Amwal Al Ghad,” Bieber spoke about GoDaddy’s plans and how they match Egypt’s 2023 strategy. She highlighted the company’s aim to provide effective, easy-to-use digital tools and services. By 2024, GoDaddy wants to serve more customers in Egypt by making its digital tools more widespread.
The company is working closely with the Egyptian government, especially the Ministry of Planning. They are offering training programs to improve the digital skills of startups and existing businesses. GoDaddy’s services in Egypt include domain registration, web hosting, e-commerce solutions, and digital marketing tools.
Recent surveys support Bieber’s positive outlook for e-commerce in Egypt. They show a clear trend towards digital strategies among small businesses. Many are realizing the importance of having an online presence for their growth and success.
As GoDaddy continues its partnerships and supports government digital initiatives, its influence on Egypt’s digital landscape is growing. The company is committed to sustainability and reducing its carbon footprint. It aims not just for business growth but also to contribute to a sustainable and thriving digital economy in Egypt.
The 2028 projection indicates a vast potential for e-commerce, with GoDaddy playing a key role in this digital evolution.
Apps
Saudi Fintech ‘Lendo’ Raises $28M in Series B Funding
Lendo, a Saudi Arabia-based shariah-compliant debt crowdfunding marketplace, has raised SAR 105 million ($28 million) in Series B funding led by Sanabil Investments, a wholly-owned company by the Public Investment Fund (“PIF”). The round saw participation from Shorooq Partners, AB Ventures and other investors.
Lendo is a Shariah-compliant, debt crowdfunding marketplace that helps pre-finance outstanding invoices for businesses in Saudi Arabia. The platform is a community of creditworthy borrowers and sophisticated investors looking for alternative investments. The platform is licensed by the Saudi Central Bank (SAMA). Lendo will use the funds to support its fast-growing customer base in Saudi Arabia which has grown 3X year-on-year, introduce more innovative financing products, and accelerate market expansion plans.
“With this funding round, we are going to expand into new markets, support new and current customers, and launch new Shariah-compliant products, all the while continuing to innovate the marketplace for digital lending. We are going to make financial services more accessible, affordable, and inclusive for everyone. I am excited to see what the future holds for our company,” said Osama Alraee, CEO, and co-founder of Lendo, who also disclosed its plans for an IPO within the next few years.
Alraee has also expressed his gratitude to SAMA (Saudi Central Bank), Fintech Saudi, MCIT, Misk, and Monshaat for their unwavering support, emphasizing the pivotal role they have played in advancing financial inclusivity and fostering innovation in partnership with Lendo to reshape the financial landscape. Their dedicated efforts in advancing financial inclusivity and fostering innovation have been invaluable to us. We greatly appreciate their partnership in our mission to transform the financial landscape
Commenting on the announcement, Sanabil Investments said: “Lendo is a leading fintech company that is transforming the financial services industry in their specialist area of Shariah-compliant digital lending for SMEs. The Lendo team, especially the founders, Osama and Mohamed, have achieved a significant amount in a relatively short period, and we are eager to join their journey of increasing access to flexible financial solutions in Saudi Arabia and the region at large.”
“The growing demand for alternative, agile, and accessible lending solutions presents a significant opportunity. At Lendo, we are well-positioned to lead the charge in promoting financial inclusion not only in Saudi Arabia but also beyond. By fueling SME growth, we aim to contribute to the realization of Saudi Arabia’s Vision 2030 economic goals and to create a ripple effect of opportunity throughout the MENA region,” said Mohamed Jawabri, COO, and co-Founder of Lendo.
Lendo previously raised a SAR 27 million Series A funding round ($7.2 million) in 2021 led by Derayah Ventures with participation from Seedra Ventures and other investors, bringing the fintech’s total funding to SAR 132 million ($35.2 million).
Since the inception of Dec 2019, Saudi fintech Lendo has processed more than 2,500 financing transactions on its platform, providing over SAR 1 billion ($300 million) in financing to SMEs and generating SAR 140 million ($37 million) returns for investors.
The Small and Medium Enterprise financing landscape in the Middle East and North Africa (MENA) presents a substantial market opportunity as limited financial access continues to restrict the growth of the region’s businesses, with commercial banks hesitant to issue loans to SMEs at scale, resulting in a high percentage of declined financing requests annually. According to the International Finance Corporation (IFC), the SME financing gap is estimated at SAR 19.5 trillion ($5.2 trillion) every year in developing countries.
Lendo’s debt crowdfunding platform aims to bridge the financing gap for SMEs, which aligns with the Saudi Vision 2030 to significantly expand SME lending from 4% in 2018 to 20% by 2030.
The total value of debt crowdfunding in Saudi Arabia surged from 1.4 million SAR in 2019 to SAR 771 million in 2022, marking a remarkable 430% growth, according to SAMA’s annual fintech report 2022.
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