Launched as a solution to the woes of the lockdown of the previous two years, South African lender Nedbank’s Avo app has grown to 1-million users as of today, with the bank saying it far outgrew even its expectations.
Nedbank says that it has seen exponential growth and has doubled its customer base in the last 4 months, with a staggering 50% of that being achieved in the last 4 weeks.
Users on Avo can take advantage of Nedbank’s ever-expanding selection of restaurants and liquor outlets with free on-demand delivery, to everything they need to fill their pantries from South Africa’s leading grocers.
Nedbank also has weekly deals on goods merchandise ranging from tech, appliances, and fashion with access to affordable and convenient financial services products.
Not just another super app
“Avo growth has accelerated sharply since its launch in June 2020 mid-pandemic and continues to serve our ever-expanding customer base – demonstrating to all South Africans why this app is a real e-commerce contender and a champion of the platform revolution,” says Ciko Thomas, Managing Executive at Nedbank Group.
“Being first to mind has always been the ambition of Avo, and with the coalescence of so many exciting offerings coming together, Avo is clearly a contender in the spotlight of the South African digital growth narrative,” Thomas adds.
The app has celebrated several key milestones in the last few months, including the launch of the Avo Auto marketplace that has seen many South Africans find and purchase motor vehicles with finance from MFC, and a first-of-its-kind Business to the Business platform.
Avo Business has also onboarded over 20,000 merchants onto the platform. On the app, businesses can conduct connect in a convenient manner, and gain access to a new customer base to help grow their business.
Registered businesses receive all the benefits of growing their e-commerce expansion through Avo, including bank-grade security, payment reservation, end-to-end logistics support, and access to an ever-growing 1 million+ customer base.
Avo is a marketplace that provides opportunities for all businesses across the country, as they recover from the knock-on effects of COVID-19, as well as helping them take advantage of the consumer shift to online shopping.
Safe, secure transactions from the comfort of your home
As consumers continue to embrace e-commerce platforms and online transactions, Nedbank wants to keep providing secure and convenient transactions and service delivery. Their Avo app offers free delivery for groceries and takeaways but continues to offer 1% cash back for every purchase on the platform, which sees customers accumulating and spending their Avo Points on all their favourite brands and products.
“We have continued our focus on listening to our customers and stakeholders, to ensure we enable and then offer the best customer experiences. Avo is a key component of Nedbank’s wider ecosystem participation and we remain focused on scaling the platform” says Fred Swanepoel, CIO of Nedbank Group Ltd.
Edited by Zintle Nkohla
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