NAIROBI, KENYA: A new online retail shop has entered the Kenyan market, heightening competition for customers in the growing virtual space market.
Hashmart, which was started in 2017, now joins brands such Jumia, Kilimall, Masoko among others to kick off competition in the online business.
The entry of Hashmart is not only beneficial to the country’s online trading whose growth has not kept up with internet connectivity and formal retailing but also to online shoppers who stand to win big from price wars.
Although the formal retail penetration in Kenya is estimated at 30 per cent while internet connectivity at 60 per cent, the fraction of Kenyans buying products online has stuck at 0.5 per cent.
Hashmart managing director Mansoor Hussein said unlike most retailers in the market which deal in all types of products, Hashmart selects trending products to make shopping easy for customers. “We are very deliberate in our sourcing of products for both quality and affordable prices for Kenyan customers,” he said.
Among its products are leading smartphones brands like Samsung, Tecno, Infinix as well as computers and accessories. Hashmart also stocks networking products (IT), home appliances, home entertainment, and wearables such as watches, sunglasses and other lifestyle products. It also offers global shopping services.
“Hashmart endeavors to maintain the highest standards for our products and services,” says Mr Husssein. “Our work force remains committed to upholding the principles of quality and integrity that define the company.”
He said Hashmart has been attracting more shoppers since it was established due to a unique combination of superior product quality, durability and commitment to customer service.
He said the retailer offers fast delivery services within Kenya with weekly and monthly promotional offers of up to 50 per cent discount.
Hashmart said it is initially focusing on Nairobi, as it puts in place systems to expand to other major towns. It has also integrated various payment methods including M-Pesa, PayPal and credit cards.
Hashmart however will have to work hard to outcompete established e-commerce brands. Prominent e-commerce players in the country include Africa Internet Group’s Jumia, Kilimall International and OLX, a unit of Johannesburg-listed Naspers Ltd.
Jumia, arguably Africa’s biggest online retailer, has already created enough publicity about Black Friday, in a move aimed at netting more sellers and buyers online.
