Avo by Nedbank hits over 1 million customers and more than 20 000 merchants

Launched as a solution to lockdown woes, Avo by Nedbank has grown beyond the bank’s expectations, further solidifying its place in the e-commerce space as it reaches the milestone of 1 million customers. We have seen exponential growth and have doubled our customer base in the last 4 months, with a staggering 50% of that being achieved in the last 4 weeks. 

Avo is becoming one of South Africa’s preferred destinations for online consumers, as it continues to lead the way in offering inflation busting deals and promotions. Consumers are spoilt for choice with an 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. Our fan favourite remains the 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: Retail and Business Banking 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.”

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 their new wheels with finance from MFC, and a first of its kind Business to Business platform. Avo Business has onboarded over 20 000 merchants onto the platform. Here, 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. Now, more than ever, Avo is a marketplace that provides an incredible opportunity 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 you can trust – from the comfort of your home

As consumers continue to embrace e-commerce platforms and online transactions, Nedbank is committed to provide secure and convenient transactions and service delivery. Not only does the Avo app offer free delivery for groceries and takeaways but continues to offer 1% cashback 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.