Nigeria B2C E-Commerce Market 2019 code:1438

Nigeria B2C E-Commerce Market 2019
OVERVIEW
TABLE OF CONTENTS
COMPANIES MENTIONED
Countries Covered: Nigeria
Pages: 47
Publication Date: 12/06/2019
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Questions Covered in the 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 findings:

Nigeria shows high E-Commerce growth potential

Double-digit growth rate projected for Nigeria’s online retail sales

With its large and growing population, Nigeria has an untapped potential for B2C E-Commerce. Internet penetration is projected to rise by nearly 10 percentage points between 2018 and 2023, up from around one-third of the country’s population last year. More than 50% of connected consumers shop online, mainly for electronics and fashion items, according to surveys cited in the yStats.com report. As shoppers grow more confident with making purchases over the Internet, both the number of digital buyers and their spending is projected to increase. Over the forecast period through 2023, online retail sales in Nigeria are expected to maintain a strong double-digit growth rate.

Underdeveloped infrastructure challenges the growth of E-Commerce in Nigeria

While rising Internet connectivity contributes to the growth of E-Commerce sales in Nigeria, several major barriers still exist, yStats.com’s report reveals. Among them is the underdeveloped logistics infrastructure, inhibiting efficient and reliable delivery of E-Commerce orders. Furthermore, the country’s population remains largely unbanked and has no access to traditional electronic payment methods such as credit cards. As a result of these and other challenges, several E-Commerce companies exited the market in 2018, while others succeeded in overcoming the hurdles by building their own fulfilment and digital payment capabilities.

Regional player Jumia leads the online retail market in Nigeria

One of the market leaders with a robust E-Commerce infrastructure is Jumia. Based in Nigeria and operating across 14 African markets, Jumia launched its IPO on the New York Stock Exchange in April 2019, potentially leading to further expansion of its market share. Faced with increased competition and infrastructure challenges, two other major players, Konga and Yudala joined forces in 2018, introducing a combined E-Commerce marketplace under the Konga brand. International competitors are also active on the Nigerian market, with Amazon and AliExpress ranking among the favorite online shopping destinations of Nigerian consumers, according to a ranking included in the yStats.com report.

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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

3. Trends

  • 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

6. Products

  • Breakdown of Product Categories Purchased Online, in % of Online Shoppers, 2018

7. Payment

  • 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

8. Delivery

  • 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

9. Players

  • 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

 

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  • AliExpress Ltd.
  • Amazon.inc
  • DealDey Ltd.
  • Jiji Press Ltd
  • Jumia Technologies AG
  • Konga Online Shopping Ltd
  • Shakaramart.ng
  • Yudala Ltd
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