Jumia Cuts Staff Costs And Discontinues Free Delivery Subscription Service
Nov 23, 2022 01:12 PM
Africa’s e-commerce giant Jumia is ending its free delivery Prime subscription service and cutting staff costs according to its Q3 earnings announcement.
The company’s results showed consistent growth but lapses in some areas compared with Jumia’s previous quarter.
The company reported $50.5 million in revenue for this year’s third quarter, a 6% growth compared to $47.6 million in Q2, and an 18.4% increase compared to $42.7 million in revenue in the same period last year.
Gross merchandise value declined to $240.7 million from $252.7 previous quarter despite being an increase from $238.1 million realized in the previous quarter.
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