Market Research Report
Nigeria B2C E-Commerce Market 2019
|Published by||yStats.com GmbH & Co. KG||Product code||870872|
|Published||Content info||47 Pages/Charts
Delivery time: 1-2 business days
|Nigeria B2C E-Commerce Market 2019|
|Published: June 12, 2019||Content info: 47 Pages/Charts||
"Rapid growth projected for B2C E-Commerce sales 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 by yStats.com. The largest products segments in Nigerian E-Commerce are consumer electronics, household appliances and fashion.
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 yStats.com 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.
Jumia Technologies AG , Jiji Press Ltd, Konga Online Shopping Ltd, Yudala Ltd, DealDey Ltd, Shakaramart.ng, Amazon Inc, AliExpress Ltd.