The report points to the continuous growth of online retail sales in Nigeria, driven by a rising Internet penetration rate and growing consumer trust in online shopping.
Electronics leads in E-Commerce purchases in Nigeria
Nigeria's retail E-Commerce market harbours a high growth potential, as only a small fraction of overall retail spending currently is online. The country's population is large and growing, expected to become the world's third largest by 2050. With Internet penetration increasing, a growing share of consumers gain access to E-Commerce services, used by around one-half of all connected shoppers as of 2018, according to a survey cited here. The largest products segments in Nigerian E-Commerce are consumer electronics, household appliances and fashion.
E-Commerce companies in Nigeria are faced with infrastructure challenges
At the same time, infrastructure barriers inhibit full-fledged E-Commerce development in Nigeria. With a major share of population living in rural areas with underdeveloped road systems, E-Commerce fulfilment remains a major challenge. Furthermore, low access to financial services constrains the adoption of digital payment means, as the analyst reports.
E-Commerce market leaders such as Jumia and Konga strive to overcome these barriers by building their own delivery and payment ecosystems, and are rewarded with higher market shares compared to their competitors. In early 2019, Jumia conducted an IPO on the New York Stock Exchange, raising further investments to fund its expansion in the region.
Questions Answered in this Report
- How large is Nigeria's online retail market projected to be by 2023?
- What are the main drivers and barriers to the growth of B2C E-Commerce in Nigeria?
- What are the forecasts for Internet penetration rates in Nigeria by 2022?
- Which market trends are important for the development of online retail in this country?
- Who are the leading E-Commerce merchants in Nigeria?
Key Topics Covered:
1. Management Summary
2. Overview and International Comparisons
- B2C E-Commerce Market Overview, May 2019
- Breakdown of Mobile Phone Ownership in Nigeria, by Smartphone, Other Mobile Phone and No Mobile Phone, in % of Adults, Compared to Ghana, Kenya, Senegal, South Africa, Tanzania, 2017
- Internet Penetration in Nigeria, in % of Individuals, Compared to Egypt, Kenya, Morocco, Nigeria, 2017
- Internet Penetration in Nigeria, in % of Population, Compared to South Africa and Sub-Saharan Africa, 2017 - 2022f
- Mobile Internet User Penetration in Selected Countries, in % of Individuals, incl. Nigeria, 2018
- Share of Internet Users Who Are Likely To Use Mobile Payment Next Year, in % of Internet Users, by Selected Countries, incl. Nigeria, Q1 2018
- Breakdown of Internet Traffic by Device, in %, 2018
- Breakdown of Devices Used for Online Shopping, in % of Online Purchases, 2018
- Cross-Border Online Shoppers Penetration, in % of Online Shoppers, 12 Months to May 2018
- Top 3 Countries Purchased from in Cross-Border Online Shopping, in % of Cross-Border Online Shoppers in Nigeria, May 2018
- Top 3 Product Categories Purchased Cross-Border, in % of Cross-Border Online Shoppers, May 2018
4. Sales & Shares
- B2C E-Commerce Sales, in USD billion, 2019f & 2023f
- Share of B2C E-Commerce and Digitally Influenced Spending in Total Retail Spending, in %, 2017
5. Internet Users & Online Shoppers
- Internet Penetration, in % of Individuals, 2012 - 2018e
- Internet Penetration, in % of Individuals, 2017 - 2022f
- Online Shopper Penetration, in % of Internet Users, 12 Months to May 2018
- Breakdown of Frequency of Shopping Online, in % of Online Shoppers, 2018
- Breakdown of Main Reasons to Shop Online, in % of Online Shoppers, 2018
- Breakdown of Product Categories Purchased Online, in % of Online Shoppers, 2018
- Share of Adults Who Made at Least One Digital Payment in the Last 12 Months, in % of Adults, October 2018
- Value and Number of Internet (Web) and Mobile Payment Transactions, in NGN billion and in millions, 2011- 2018
- Breakdown of Likelihood of Using Mobile Payments Next Year, in % of Internet Users, Q1 2018
- Payment Options Offered by Two Major E-Commerce Players, May 2019
- Top 5 Payment Methods Used in Cross-Border E-Commerce, in % of Cross-Border Online Shoppers, May 2018
- Delivery Options Offered by Two Major E-Commerce Players, May 2019
- Top Barriers to Cross-Border Online Shopping, in % of Cross-Border Online Shoppers, May 2018
- B2C E-Commerce Players Overview, May 2019
- Top 5 Online Shopping Websites, incl. Total Number of Visits on Desktop and Mobile, in millions, Nigeria's Share of Total Visits on Desktop, in %, Pages Per Visit and Bounce Rate, April 2019
- AliExpress Ltd
- Amazon Inc
- DealDey Ltd
- Jiji Press Ltd
- Jumia Technologies AG
- Konga Online Shopping Ltd
- Yudala Ltd
For more information about this report visit https://www.researchandmarkets.com/r/11516x