Jumia Technologies AG (JMIA) slightly gained in the pre-market today after the company announced the results of their Black Friday campaign of 2021. The stock was traded at $12.23 in the pre-market gaining more than 10.48% from the previously closed value. At the end of the last trading session, the stock closed at $10.76. The average volume of the stock traded in the last trading session was around 5.10 million.
Results of the Black Friday Campaign 2021
As of November 5-November 30 2021, the company witnessed its largest-ever Black Friday Campaign that reached a GMV of approximately $150 million in just 25 days. If we compare it with the last year this is an increase of more than 30% in a single year. The orders company recorded were around 4.3 million in total. This is an increase of 39% in the orders by the customers.
JMIA claims to be a pioneer in introducing the Black Friday Sales concept in Africa in the year 2012. Now their campaign is the most awaited Black Friday campaign since 2012. The most important factor was the increase in the number of new visitors on their platform. This year 40 million new visitors came to their e-commerce platform. This will have a huge impact on grabbing new market share in the future which will increase the profitability of the company.
The Black Friday Sales campaign saw high seller participation with over 46,000 Active Sellers during the campaign compared to 41,500 in the last year. During this year’s Black Friday Sales, their top 20 physical goods sellers increased their GMV by three times on average. Their restaurant partners were a vital and important part of the success of their Black Friday Sales Campaign of 2021, they offered a variety of discounts and deals on the exclusive meal. The GMV of the food delivery category almost doubled as compared to the last year. The average GMV growth of the top 20 restaurants during the 2021 campaign experienced an increase of 167% as compared to 2020.
Effect on the Jumia Technologies AG (JMIA) stock
After the announcement of the report and seeing the success rate of their Black Friday Campaign of 2021, the investors were seen to be interested in investing in JMIA stock. The stock gained more than 10% in value in the pre-market as soon as the news hit the market.
Conclusion
The stock of Jumia Technologies AG (JMIA) is gaining after the announcement of the result of their Black Friday campaign. The important factor in the news was its introduction of the platform to new 40 million customers, which is a huge number. If they target them well in the future it could bring a great number of revenue for the company.
