Having grown steadily for most of the review period, the rate of growth in e-commerce retail current value sales accelerated sharply during 2021. The COVID-19 pandemic encouraged a growing number of middle- and high-income consumers to shop online for the first time.
As demand for e-commerce services remains concentrated within the relatively small group of high-income consumers, the channel has seen intensified competition between Jumia Technologies AG and Konga Online Shopping Ltd. Both companies continuously seek for strategic ways to attract shoppers.
Jumia Technologies AG continued to dominate e-commerce in terms of retail value share. The majority of its e-commerce revenue derives from a marketplace that is utilised by third party sellers, including some of Nigeria’s biggest FMCG brands.
The rate of growth in e-commerce retail current value sales is expected to remain in the double-digits for the remainder of the forecast period. Economic recovery and increasing consumer acceptance of internet retail will be the main drivers of this, in addition to increased internet use.
Growth in the retail current value sales of e-commerce will also be facilitated by the increased use of cashless payment methods. E-commerce players are seeking to shift consumers away from cash payments, which are both inefficient and a security risk.
The forecast period will see a growing number of bricks-and-mortar retail chains expand into e-commerce, as they pivot towards an omnichannel model. Konga has been something of a pioneer in this regard, as it already operates a chain of bricks-and-mortar retail outlets.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the E-Commerce (Goods) industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the E-Commerce (Goods) industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Sales of consumer goods to the general public via the Internet. Please note that this includes sales through mobile phones and tablets (i.e. m-commerce). E-commerce includes sales generated through pure e-commerce websites and through sites operated by store-based retailers. Sales data is attributed to the country where the consumer is based, rather than where the retailer is based. The definition of e-commerce is agnostic as to where actual payment takes place; if an order is initiated online, it is considered to be an e-commerce transaction, even if the order is ultimately paid for in-store (or elsewhere). As a result, all ‘click-and-collect’ and ‘collect-at-store’ transactions are counted as e-commerce sales. E-commerce excludes sales of: (a) Consumer-to-consumer (C2C) and business-to-business (B2B) sales, although please note that sales between businesses and consumers (i.e. B2C sales) on sites such as eBay are included; (b) Sales of motor vehicles, motorcycles and vehicle parts; (c) Tickets for events (sports, music concerts, etc.) and travel; (d) Sales of travel and holiday packages; (e) Revenue generated by online gambling sites; (f) Returned products/unpaid invoices; and (h) Internet sales from direct selling companies, as these are tracked in Direct Selling market size/shares. Example e-commerce brands include Amazon.com, Zappos.com, Apple.com, iTunes, Rakuten, Tesco.com, Dell.com, Coles Online, etc. 3rd Party Merchant sales through online marketplaces, such as Amazon.com, eBay.com and Walmart.com, are included and split out in shares. 3rd party merchants are the summation of sales that come from businesses that are present on an online marketplace (e.g. Amazon, Alibaba). Marketplaces are websites that allow multiple merchants to sell on the marketplace website, with the marketplace operator processing the transactions, but many marketplaces provide offer other services as to help with shipping, handling, payment, and product storage. The marketplace is not the merchant of record legally, but for the sake of shares, sales from 3rd part merchants are attributed to the marketplace brand operator.See All of Our Definitions
This report originates from Passport, our E-Commerce (Goods) research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!