Zimbabwe - Business creation project

Describe your project or startup in a few words

TengaSmart is a price comparison app based in Zimbabwe designed to help consumers compare prices across different retail outlets, ensuring they get the best deals on products.

01.01 Describe your project in more detail

TengaSmart is a price comparison app for Zimbabwe, designed to help shoppers effortlessly find the best deals across various retail outlets. By aggregating real-time prices for a wide range of products, from groceries to electronics, TengaSmart empowers consumers to make informed decisions, save money, and enjoy a smarter shopping experience. Features include price alerts and a savings tracker, making TengaSmart an essential tool for savvy shoppers aiming for financial wellness and efficient spending.

01.02 What is the main problem you are trying to solve?

The primary issue TengaSmart addresses is the challenge consumers in Zimbabwe face in finding the best prices for products across different retail outlets. In the current market, price transparency is lacking, making it difficult for shoppers to compare prices and ensure they are getting the best deals. This often leads to overspending and a time-consuming process of visiting multiple stores or websites to compare prices manually. TengaSmart aims to solve this problem by providing a centralized platform where users can easily compare prices from a variety of retailers in real-time. This not only saves time and reduces the effort involved in price comparison but also promotes financial savings and smarter spending habits among consumers. By enhancing price transparency and accessibility, TengaSmart seeks to empower shoppers, enabling them to make more informed purchasing decisions and ultimately improve their shopping experience.

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

TengaSmart, a price comparison website (PCW) designed for Zimbabwe, brings substantial benefits to both sellers and customers. For sellers, it offers a swift increase in site traffic and sales by providing an additional channel for audience interaction. This platform allows sellers to gain insights into competitive pricing and customer feedback directly, enabling them to refine their offerings. It's also an economical way for sellers to engage with price comparison and shopping websites without needing third-party assistance. For customers, TengaSmart simplifies the shopping experience by aggregating a vast number of stores and products on a single platform. It enables access to reviews from actual customers and the selection of the most popular products, all while systematically sorting product offers for the best deals. This dual advantage streamlines the purchasing process, making it more efficient and cost-effective for all parties involved.

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

TengaSmart targets Zimbabwean consumers seeking cost-effective shopping and retailers aiming to increase their visibility and sales. It's designed for budget-conscious individuals and families looking for deals across various products, and retailers, both large and small, wishing to attract a wider customer base. This platform facilitates informed purchasing decisions for consumers and offers retailers a competitive marketplace presence.

01.05 When did you start working on your project?

2024-05-01

01.06 How many other partners are associated with your business venture?

0

01.07 Among the other partners, how many are female?

0

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

0

01.09 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link here:

01.10 Which industry best describes your project?

e) Secondary commodities (cars and parts, consumer durables and apparel, retail)

02.01.01 My project contributes to the No poverty goal

5

02.01.02 No poverty - Justification

TengaSmart contributes to reducing poverty by enabling smarter spending. It helps consumers find the best prices, aiding those with limited budgets to save money. Additionally, it supports small retailers in reaching a wider market, potentially boosting their income and contributing to economic growth, indirectly addressing poverty by fostering a more inclusive and competitive market environment.

02.02.01 My project contributes to the Zero hunger goal

3

02.02.02 Zero hunger - Justification

02.03.01 My project contributes to the Good health and well-being goal

3

02.03.02 Good health and well-being - Justification

02.04.01 My project contributes to the Quality education goal

2

02.04.02 Quality education - Justification

02.05.01 My project contributes to the Gender equality goal

3

02.05.02 Gender equality - Justification

02.06.01 My project contributes to the Clean water and sanitation goal

1 - Strongly Disagree

02.06.02 Clean water and sanitation - Justification

02.07.01 My project contributes to the Affordable and clean energy goal

1 - Strongly Disagree

02.07.02 Affordable and clean energy - Justification

02.08.01 My project contributes to the Decent work and economic growth

6

02.08.02 Decent work and economic growth - Justification

TengaSmart significantly contributes to promoting sustainable economic growth and decent work by providing a platform that enhances market visibility for retailers, especially SMEs. By facilitating access to a broader customer base, it enables businesses to increase sales and potentially expand their operations, leading to job creation. Furthermore, TengaSmart encourages fair competition among retailers, contributing to a more dynamic and sustainable economy. It also empowers consumers with information to make informed decisions, indirectly supporting economic sectors that prioritize fair pricing and quality, thus promoting decent work standards across industries.

02.09.01 My project contributes to the Industry innovation and infrastructure

6

02.09.02 Industry innovation and infrastructure - Justification

TengaSmart plays a pivotal role in fostering innovation and supporting infrastructure within the retail and e-commerce sectors. By leveraging technology to provide a comprehensive price comparison service, it drives industry innovation, encouraging retailers to adopt more efficient and customer-friendly practices. Additionally, TengaSmart's platform can act as a catalyst for improving online retail infrastructure, making it more resilient and accessible. The service's design and implementation encourage continuous improvement and adaptation, qualities essential for sustainable industrialization and the development of innovative solutions to meet consumer needs effectively.

02.10.01 My project contributes to the Reduced inequalities goal

2

02.10.02 Reduced inequalities - Justification

02.11.01 My project contributes to the Sustainable cities and communities goal

3

02.11.02 Sustainable cities and communities - Justification

02.12.01 My project contributes to the Responsible consumption and production goal

6

02.12.02 Responsible consumption and production - Justification

TengaSmart encourages responsible consumption by providing consumers with tools to make informed decisions, promoting the purchase of goods at the best value, which can indirectly reduce waste by discouraging impulsive buying. By highlighting competitive prices, it also incentivizes retailers to optimize their supply chains for efficiency, potentially leading to more sustainable production practices.

02.13.01 My project contributes to the Climate action goal

2

02.13.02 Climate action - Justification

02.14.01 My project contributes to the Life below water goal

2

02.14.02 Life below water - Justification

02.15.01 My project contributes to the Life on land goal

2

02.15.02 Life on land - Justification

02.16.01 My project contributes to the Peace justice and strong institutions goal

2

02.16.02 Peace justice and strong institutions - Justification

02.17.01 My project contributes to the Partnerships for the goal

2

02.17.02 Partnerships for the goal - Justification

05.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

2

05.02 The product/service we envision creating represents an entirely new type of product/service.

6

05.03 The product/service we envision creating could be described as a new technology.

5

05.04 The product/service we envision creating is an improvement on an existing product or service.

7 - Strongly Agree

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

6

05.06 The product/service we envision creating responds to a demand or need that has not been satisfied by other products/services.

7 - Strongly Agree

05.07 The product/service we envision creating is a new version of an old product/service.

4

05.08 Justification

TengaSmart introduces an innovative approach to price comparison and consumer empowerment in the retail sector. While price comparison tools exist, TengaSmart's unique value proposition lies in its focus on maximizing social and economic value for both consumers and local retailers. It improves upon existing services by providing a more localized, comprehensive, and user-friendly platform. TengaSmart responds to a market need for more transparent pricing and supports local economic development, making it a new version of an old service with significant improvements and extensions.

05.09 Who are your main potential competitors and what makes you stand out from them?

TengaSmart's main competitors include global price comparison websites and local e-commerce platforms. What sets TengaSmart apart is its focus on supporting local economies by connecting consumers with local retailers, promoting sustainable economic growth, and fostering community engagement. Its platform is designed not just for price comparison but also for enhancing local retail ecosystems, making it uniquely positioned to address both economic and social needs within its operating regions.

10.06 Are you initiating actions within your community to promote the role of female entrepreneurs?

n/a