Jumia is a well-known e-commerce platform with a large number of users and merchants. During the settlement process, you may encounter some problems, such as logistics distribution, product display, etc. Let’s take a look at the common questions about Jumia settlement.
1. Are there any requirements for settling in Jumia?
As long as you meet the following standards, you can become a Jumia international merchant!
Company qualifications
Have a company account before activation
Have 200+ SKUs
2. How does the Jumia platform charge?
The Jumia platform only charges commissions, and does not charge platform fees, monthly fees, or annual fees. The commission fees for international merchants are:
The commission is at least US$1
5% for electronics and 10% for all other categories
3. How to operate jumia logistics?
Official logistics: Jumia dedicated line (Jumia) dedicated line, package loss rate less than 1%)
After receiving the order, the merchant should properly deliver the goods to Jumia China’s specific warehouse within three working days (designated warehouse cities: Shenzhen, Guangzhou, Ningbo, Hong Kong, Xiamen). Yiwu has a pickup service (more than 10 pieces). The platform will help merchants deliver the goods to Jumia Africa through cooperative logistics suppliers, and then clear customs and arrive at the merchant’s warehouse. The last mile of delivery will also be carried out by Jumia’s own team. Jumia logistics freight is settled directly between the platform and the merchant, and the product pricing should include logistics freight.
4. Can new Jumia merchants enter the site?
Jumia’s new merchants must start from the NG site. After running for a period of time and meeting the conditions, the merchant will receive a notification to open other sites.
5. What language does the platform operate in?
Platform operation language: English
SKU product listing language: English
6. How do merchants receive payments from customers? What is used for settlement?
International merchants on the Jumia platform only accept prepayment from users, that is, local African customers pay Jumia first, and Jumia will settle with sellers in US dollars.
As an international business application company, Jumia settles twice a month, with payments made when orders are properly delivered to consumers (i.e. Delivered).
7. How to calculate the rates when the exchange rate in Africa fluctuates so much?
The Jumia platform uses a fixed exchange rate, which is now 1 US dollar = 370 naira (Nigerian loan currency). The monthly fixed exchange rate is reflected in the bill. Merchants should correct prices in a timely manner according to the changed fixed exchange rate. The application of a fixed exchange rate can reduce losses caused by excessive exchange rate fluctuations.
8. How to deduct Jumia’s overseas warehousing costs?
Currently, for international merchants, Jumia adopts FBJ (Fulfillment By Jumia). There is no storage fee support and no delivery fee in the first month. The subsequent storage fee is charged at 200 Naira per month, charged per pcs (Naira is the Nigerian currency, and the current rate is US dollar: Naira = 1:370). New merchants can apply for FBJ service after running the platform for a period of time. The reason is that the platform needs to choose hot-selling products to go through FBJ based on the sales of new merchants.
Jumia is a well-known e-commerce platform. This article answers the requirements and fees for entering Jumia, logistics and delivery operations, customer payment methods, and exchange rate fluctuations, and shares the precautions for entry and platform operation language. If you want to become an international merchant of Jumia, don’t miss this important information!