The Georgian startup “Phubber” will enter the Azerbaijan market on June 6. Giorgi Chugoshvili, the co-founder of the online platform, announced on BMGTV.
Phubber is a social shopping app and a digital platform, which connects people who want to buy and sell. The startup entered the Armenian market about a month ago, which required an investment of $80,000. However, due to the size and high purchasing power of the population of Azerbaijan, it was decided that a “Phubber” showroom would also be organized in Baku, which is why an investment of $150,000 was made, almost double compared to Armenia.
“The population of Armenia is slightly less than that of Georgia, and its purchasing power is also slightly lower. In Azerbaijan, the population is more and the purchasing power is higher, which is why we decided to open a “Luxury” showroom in Baku, because there are different types of consumers and the emphasis will be on different types of products. We expect that, for example, the average value of each item sold in Azerbaijan will be within $200-250, and on the markets of Georgia and Armenia, it will be relatively less – within $100-130.”
The success in the Armenian market can be considered one of the reasons for entering the Azerbaijan market. According to Giorgi Chugoshvili, “Phubber” is the only platform for original, quality products in Armenia.
“There are no branded stores in Armenia and “Phubber” is the only platform where original, high-quality items are available. In Georgia, we have 150,000 items in our catalog and these items are already available for Armenian customers. Now, in 1-2 months, the local catalog will appear, and by the end of June, 20-30 thousand items will be in the Armenian catalog as well.”
Today, Phubber has more than 200,000 registered users, and most of them are from Georgia.