Dubizzle Seeks to Change Culture of Ownership in Egypt
Global market research firm YouGov recently conducted a survey on the buying and selling behaviors of Egyptian internet users in collaboration with Dubizzle.
The study, which focuses on Internet users across Egypt, estimates that there is a potential for 2.2 billion unused items that could be sold directly online, increasing liquidity and boosting the economy.
"We carried out this research because we wanted to show fellow
Egyptians that almost anyone with an internet connection can make
extra cash by selling something they own and no longer want through
Dubizzle's classifieds website,” says Pilar Rashad, PR Manager at
Ahmed Eraqi, Egypt’s Dubizzle General Manager, adds that he doesn’t focus solely on Dubizzle as a company, but rather on changing the ownership mentality in the Egyptian society. The study detected many unwanted and unused items including clothing, accessories, baby products, toys, consumer electronics, and musical instruments across Egypt.
“The deciding factor to join Dubizzle was my genuine belief in the added value of the brand which can make a difference in the life of people and in the Egyptian economy”, explains Eraqi.
Transforming the Egyptian Market
Dubizzle is breaking into an Egyptian market which is somewat overcrowded with buying and selling websites; they have several, direct and indirect, competitors such as Souq, Mobawaba Masrawy, and Bkam. But Eraqi believes that Dubizzle aims to be different: the website’s team reviews ads sent by users, edits inappropriate content, and offers advice to users on the best way to formulate their ads to attract buyers.
"When Egyptians trade items they no longer need or use, the overall supply in the market increases. This leads to lower prices, increasing the quantity of trade and keeping money in the Egyptian economy. In addition, as Egyptians sell their unused goods, they have more money to buy what they want. This increase in demand expands market price and quantity, as well as creates even more Egyptian trade,” explains J.C. Butler, co-founder of Dubizzle.
Today, you can see Dubizzle’s advertisements plastered across Cairo, with online ads displayed on many Egyptian satellite channels, successfully increasing the number of responses to sellers to over 50,000 per day. Eraqi insists that the site's business model doesn't aim, at least for now, to provide any paid services, but prefers to rely solely on selling advertisement space on the website.
Dubizzle is now planning a joint initiative, in collaboration
with the Egyptian Ministry of Communications and Information
Technology, to promote the potential benefits of online classifieds
ads and the value they add to the Egyptian economy. Stay tuned as
they begin to develop this program.