Wakuda, Using Data To Navigate The eCommerce Lifecycle
Founders of Wakuda Albert Larter & Nathaniel Wade COURTESY OF Kandice Abraham As a result of the pandemic, online shopping increased dramatically, and all the data suggests that this trend is set to continue. Across all ages and demographics, there are now more than two billion global digital buyers who spend over 4.9 trillion dollars annually. As a result, new businesses are springing every day to fill a gap, solve a problem or address a need in this trillion-dollar, rapidly growing market. Wakuda, an online platform for Black-owned product-based businesses, is one of those businesses.
Wakuda was founded in 2020 by friends, serial entrepreneurs, and investors Nathaniel Wade and Albert Larter. In the wake of the pandemic and the resurgence of the Black Lives Matter Movement, the founders set out on a mission to bring black-owned businesses to the wider mainstream audience in a meaningful way.
With the growing demand for online products and the significant lack of black-owned companies online, Wakuda saught eliminate the barriers to participation by providing an all-encompassing solution for the community. They essentially make it simple and easy to create an online presence, list products, and access Wakuda’s growing social media presence, mailing list, PR opportunities and masterclasses on how to grow their businesses. Their eCommerce lifecycle journey
There are three lifecycle stages that every successful eCommerce company goes through. First, there is the build phase. This is the stage where the idea is conceived and developed. In this phase, the founders work to understand their target customers, clarify their needs and define a value proposition that resonates with them. Nathaniel and Albert took their time to get this right, a crucial step for any business.
Their research found that despite their mission, only 20% of their prospective customers were black. This was interesting, but a […]
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