Opportunities Preloader

Please Wait.....

Report

Nigeria E-commerce Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

Market Report I 2022-06-01 I 100 Pages I Mordor Intelligence

The Nigeria e-commerce market is expected to register a CAGR of 12.24% during the period 2022-2027. The market is primarily driven by advanced infrastructure, high internet penetration, and a growing number of card-based payment systems.

Key Highlights
Nigeria's economy is moving toward cashless transactions, with digital payment and electronic banking being adopted in stages across the country. Many transactions can now be completed electronically using a variety of new digital financial services platforms.
With a 30 percent increase in 2021, the Nigerian eCommerce market contributed to the global growth rate of 29 percent. The development of electronic payments in Nigeria encourages payment service providers to enter the industry, which sees Nigeria as a viable market. Nigerian visitors increasingly use debit cards from local banks such as Citibank, Zenith, UBA, and Fidelity to make payments abroad in nations such as the United Kingdom, Germany, South Africa, and the United States.
The rise in fraudulent online activities, sometimes known as cybercrime, is one of, if not the most, significant constraints facing Nigerian online purchasing industries. Cybercrime is defined as any criminal conduct carried out over the internet to defraud individuals of their property. People's e-wallets have been stolen, and phone numbers have been used for advertising illegal services, among other things.
The importance of excellent logistics in any business or industry cannot be overstated. Logistics is critical for creating visibility in the e-commerce supply chain and determining overall consumer satisfaction, efficiency, and service delivery. However, it is worth noting that it necessitates a great deal of skill and a complex network of multiple small systems.
Consumers stayed at home for a long time during the COVID-19 Pandemic due to movement limitations, which resulted in various behavioral modifications in the name of following rules and avoiding infection. These changes are primarily due to the product they purchased and the manner in which they bought it. At this time, consumers primarily purchased their basic and essential requirements through online shopping.


Key Market Trends

Penetration of Internet and Rise in online payments


The internet landscape in Nigeria is thriving, it has one of Africa's most developed internet economies. Nigeria has the continent's largest population and one of the world's youngest. Nigeria boasts some of Africa's strongest network coverage and mobile communication infrastructure. The percentage of people who use the internet is currently above 70%, and it is expected to continue to rise.
According to various statistics, the number of smartphone users in Nigeria ranges between 25 and 40 million. Mobile devices are utilized to access the internet far more frequently than desktop computers. In 2019, mobile devices accounted for over 70% of internet access, with this percentage considerably greater when it comes to online marketplace visits.
According to the National Communication Commission (NCC), the majority of internet users are shoppers, and mobile network coverage is currently estimated at 77%. In Nigeria, 89 percent of internet users purchase online, with another 24 percent planning to do so in the near future.
To fully realize its digital potential and create millions of jobs, the government must continue to invest in infrastructure, enhance skills, and execute investment possibilities, among other things. Furthermore, the poor adoption of online payments in Nigeria, as well as the rest of Africa, may have an impact on digital commerce.


Competitive Landscape

Nigeria E-commerce market is moderately fragmented in nature. Key major players include Zikel Cosmetics, Soso games, SLOT Systems Limited, and Jumia International. These major players actively participate in partnerships and product innovations to gain more market share in the region.


April 2022 - Pan-African e-commerce platform Jumia has inked an exclusive partnership with franchise Domino's Pizza to reach more consumers. Both Jumia and Domino's anticipate significant growth in business as well as build convenience for consumers.
April 2022 - Rabat - 4PX, a Chinese logistics firm, has struck a partnership deal with Africa's leading e-commerce platform Jumia to expand their joint pool of customers on the African continent. The two logistics companies plan to start operations in Nigeria before expanding to Kenya, Egypt, and Morocco, under the new partnership.


Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

1 INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness-Porter's Five Force Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Key market trends and share of E-commerce of total Retail sector
4.4 Impact of COVID-19 on the E-commerce sales

5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Adoption of Online mode of Payments
5.1.2 Growing Penetration of Internet
5.2 Market Challenges
5.2.1 Increase in Cybercrime
5.3 Analysis of key demographic trends and patterns related to E-commerce industry in Nigeria (Coverage to include Population, Internet Penetration, ecommerce Penetration, Age & Income etc.)
5.4 Analysis of the key modes of transaction in the E-commerce industry in Nigeria (coverage to include prevalent modes of payment such as cash, card, bank transfer, wallets, etc.)
5.5 Analysis of cross-border E-commerce industry in Nigeria (Current market value of cross-border & key trends)
5.6 Current positioning of country Nigeria in the E-commerce industry in Africa

6 Market Segmentation
6.1 By B2C ecommerce
6.1.1 Market size (GMV) for the period of 2017-2027
6.1.2 Market Segmentation - by Application
6.1.2.1 Beauty & Personal Care
6.1.2.2 Consumer Electronics
6.1.2.3 Fashion & Apparel
6.1.2.4 Food & Beverage
6.1.2.5 Furniture & Home
6.1.2.6 Others (Toys, DIY, Media, etc.)
6.2 By B2B ecommerce
6.2.1 Market size for the period of 2017-2027

7 Competitive Landscape
7.1 Company Profiles
7.1.1 Zikel Cosmetics
7.1.2 JUMIA INTERNATIONAL
7.1.3 SLOT Systems Limited
7.1.4 Ajebomarket
7.1.5 Chrisvicmall
7.1.6 Obeezi Mall
7.1.7 Soso Games
7.1.8 BonAmour
7.1.9 PayPorte

8 Investment Analysis

9 Future Outlook of the Market

  • Not Sure / Need Reassuring
    • Confirm Content
      • Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:

        Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.

        Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.

        Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.

    • Sample Pages
      • With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.

        It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.

        To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.

    • Check for Alternatives
      • Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.

        To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.

  • Prices / Formats / Delivery
    • Prices
      • All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.

        Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.

    • Discounts
      • As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.

        Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.

        To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.

    • Available Currencies
      • Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.

        Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.

        To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.

    • Licenses
      • License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.

        If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.

    • Global Site License
      • The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.

        It is important to note that this may exclude Parent Companies or Subsidiaries.

        If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.

    • Formats
      • The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.

        If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.

    • Delivery
      • Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.

        Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.

        If a delay in delivery is expected you will be informed about it immediately.

    • Shipping Charges
      • As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.

        If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.

  • Ordering
    • By Credit Card
      • We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.

        Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.

        For more information on PayU please visit: https://www.payu.pl/en/about-us

    • By Money Transfer
      • If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.

        With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.

  • Security
    • Website security
      • We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.

        Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.

    • Credit Card Security
      • We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.

        PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.

PLEASE SELECT LICENSE
  • $4750.00
  • $5250.00
  • $6500.00
  • $8750.00
  • ADD TO BASKET
  • BUY NOW