According to the U.S. Department of Agriculture (USDA), Nigerians spend 56.4% of their household income on food, the highest in the world.
This, added to the fact, that there is an increasing rate of road traffic in urban cities of Africa that make the purchase of food more expensive than ever.
Pricepally was set up to solve this problem by providing an e-commerce platform where users can pool money together to make their food purchases and other daily needs in bulk so they can save money and have their items delivered to their doorstep, saving time as well.
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Pricepally caters for low and middle-income families in developing urban cities. Through an economic standpoint, the platform helps individuals who are breadwinners of their families save more money and time on food and daily needs. Pricepally is focused on helping them save between 25%-50% on their monthly food and daily need budgets compared to what they spend at open-air markets and supermarkets.
To ascertain the feasibility of this business model, Pricepally conducted a pilot test on a group of 12 families. At the end of the study, these families were able to save up to 26% of their monthly budget on food. The platform also surveyed other groups including staff members of companies, cooperatives, faith groups and occupants of residential housing estates to understand how to solve their problems. ‘
On the other hand, Pricepally works with producers and wholesalers by determining the quality of their products and aggregating demands for them.
How The Platform Works
With Pricepally, users can purchase goods in groups, allowing them to enjoy the benefits of collective bargaining and purchase in bulk at more economical prices so that they can buy and save more at their convenience.
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To start shopping, users can sign-up on the platform and shop for products they want to buy in bulk. Also, they can click pally and split the cost of the bulk items with others. This is made possible by inviting friends and family to register on the platform. The invitees can then click on the pally link and split the cost of the bulk items they want to purchase.
In a nutshell, Pricepally provides a more economical medium to purchase food items and serves as a solution to the problem of food distribution in Africa.
Featured Image Source: @pricepally – Twitter
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