From delivering groceries to delivering results, Chowdeck’s ad product could strengthen its dominance in the Nigerian market

Image Source: Rowan Freeman via Unsplash

Following its success with food and grocery delivery, Nigerian eCommerce startup Chowdeck will now turn its sights to advertising as it hopes to unlock a revenue stream. 

Users may have seen ads from crypto startup Yellow Card or messages encouraging them to stream songs from musicians like Ayra Starr or ShineTTW in the past six months. 

With margins in the grocery delivery space thin and dwindling purchasing power across Nigeria, revenue opportunities for the three-year-old startup may be hard to come by. But with more than 500,000 users, the revenue potential from serving ads is immense and ties into a growing global phenomenon.

McKinsey predicts that retail media networks could be responsible for up to $100 billion in ad spending by 2026, with companies like Amazon leading the way.

Full story at Techpoint Africa.

By Chimgozirim Nwokoma.