Worldbay Technologies has unveiled its latest technology, ‘Grocedy’, to lighten the effects economic hardship had on Nigerians.
Explaining the innovation, CEO of Worldbay Technologies, Lanre Smith, noted that Grocedy was a platform that helps low and middle class Nigerians purchase food items in small quantities and pay at wholesale prices, through monthly subscription.
“For a lot of people, food is not affordable. Prices of food are more than what many families can afford, so they end up buying in tiny quantities. The smaller the quantity you buy in, the more you will have to spend on the long run.
“Hence, we came up with the bold idea that people can crowdfund to purchase food. By this, we will gather everybody’s money, buy in large quantities and distribute it to those that paid for It. This will help to lower the overall cost,” Smith explained.
He added that there were various baskets (subscription plan) offerings that customers could choose from depending on their financial capacities.
“They are the bronze, silver, gold, diamond and platinum packages. The basket content varies depending on the subscription type. The monthly subscription ranges from N7,500, N12,000, N22,000, N43,000 and N65,000 respectively,” he said.
The CEO also disclosed that plans were underway to extend services to online subscribers to reach more people.
According to him, over 1200 Nigerians were already subscribed to the product, as the company hopes to drive up its customer base to about 30,000 in the next 10 months when it would be celebrating its one year anniversary