Firm unveils new online retail platform

According to Morpheus, the new platform was born out of the passion to take advantage of the potentials in online retail business as an avenue of providing world class customers experience to Nigerians.Speaking at the official launch of the portal in Lagos at the weekend, the Managing Director of the company, Emeka Mordi said with […]

According to Morpheus, the new platform was born out of the passion to take advantage of the potentials in online retail business as an avenue of providing world class customers experience to Nigerians.
Speaking at the official launch of the portal in Lagos at the weekend, the Managing Director of the company, Emeka Mordi said with over 167 million people living in Nigeria today and current internet penetration at approximately 30%, growing at an outstanding rate of 85%, there is more growth expected in the rapidly burgeoning online retail space.
Mordi noted that the growing middle class makes up more than 23% of the population presenting opportunities for entrants to create a safe and dynamic online retail service.
He explained that the site is essentially a platform to achieve one of the core objectives of the company which is to create a web-based, global marketplace where a variety of products can be bought and sold.
Mordi who stated that the site covers Nigeria and will eventually expand throughout the African continent said, “Buyam.com.ng is basically an online shopping mall which officially launched operations in April 2013. With over a 105 registered retailers; stocking everything from electronics, books, to fashion and health care, we fully intend to meet the needs of our rapidly growing customer base. Because we recognize that delivery is a key point of failure in this business, logistics will be handled by world class logistics provider, DHL Express and will be supplemented by our own in-house logistics company, Thanet Deliveries.”
Speaking on customer security, he said “Special efforts and measures have gone into fraud detection and prevention. Transaction repudiation and full consumer protection will be provided, so our customers can shop in a safe and secure environment.”