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Ubuy Nigeria to redefine local businesses but how large is its addressable market?

As part of efforts to redefine local business culture, Ubuy Nigeria, a local service marketplace, has launched its new website and app to connect local professionals to customers in need of their services across Nigeria.

The development is coming as an upgrade of Ubuy’s existing website and old app which is available for android devices.

The Ubuy Nigeria plan is to run as a platform enabling easy process to find local professionals such as plumbers, carpenters, tailors and other locally operated professions.

Although, the goal of Ubuy Nigeria might be to help these professionals grow their businesses while harnessing technology as a digital tool; however, analysts are looking beyond just ideas and probing its chances of scaling as a product and equally a business venture.

While the idea might look promising, caution must be taken in order not to chase after another fantasy products, commonly emanating from the domestication of a foreign idea.

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Analysts have observed that the Ubuy idea is one that thrusts into a business segment that is most times driven by emotional attachment where supposed customers already have established artisans who help with those tasks and projects as listed on Ubuy, for instance.

The challenge, hence, is how to introduce new professionals to individuals, and how to, perhaps, help them earn trust of new options while displacing old contacts.

It equally becomes more interesting when pricing and job satisfaction is further reviewed.

By and large, are Nigerians prepared to trust a digital product to help them make decisions in place of self instinct and the customary cost challenge? Analysts are, therefore, forced to ask: how large is Ubuy’s addressable market?

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Ridwan Adelaja

Ridwan Adelaja is a multimedia journalist with a special interest in business news analysis

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