Top 10 Emerging Trends in Nigerian E-commerce


Top 10 Emerging Trends in Nigerian E-commerce

Due to the enormous growth that this industry has experienced in recent years, digital commerce is now the sector of the Nigerian market with the fastest growth. Increased technological adoption and the expansion of online payment platforms in Nigeria are the main drivers of this growth.

The e-commerce market in Nigeria is anticipated to reach its peak of $9 point 02 billion in 2023 and grow at an annual rate of 11-point 74 percent to reach $14 point 06 billion by 2027, according to

Although there are a number of obstacles facing the Nigerian e-commerce sector, such as a lack of adequate infrastructure, a weak payment system, a general lack of confidence in online transactions, and unreliable logistics and delivery networks, these obstacles have had no impact on the sector's expansion.

During a recent conversation about the importance of this industry in the expansion of the Nigerian market, he said, Yuliy Shenfeld, Director of African Operations for Jiji Africa.

"E-commerce has the potential to significantly contribute to the growth of the Nigerian market by facilitating greater access for business owners and generating employment in sectors like software development, marketing, logistics, and customer service. It is a significant growth driver that would increase the Nigerian market's competitiveness on the international scene".


Here are the Top 10 Emerging Trends in Nigerian E-commerce

The e-commerce market in Nigeria is anticipated to be shaped by the trends listed below:


• Increased Adoption of Mobile Technology

Because of the increased use of smartphones and other mobile devices, more Nigerians are making online purchases. 89 percent of internet users make purchases online, and another 24 percent plan to do so soon, according to the National Communication Commission (NCC).


• Growing Interest in Online Payments

Nigerians are more likely to trust online payment systems, which makes it simpler for them to make purchases online. This pattern has persisted in 2023 as more consumers grow accustomed to using digital transactions and online payment methods.


• Emergence of Social Media Commerce

Social media attracts significant levels of engagement from a broad audience, and the global market for social commerce is predicted to reach a staggering $604.5 billion by 2027. Therefore, social media platforms will still offer consumers a practical means of finding and buying goods.


• Pay attention to the client experience

The seamless and customized customer experience that e-commerce businesses offer, from browsing to delivery and beyond, is becoming increasingly important. In an effort to set themselves apart from their rivals and foster customer loyalty in 2023, e-commerce businesses have continued this trend.


• Shopping in Augmented Reality (AR) and Virtual Reality (VR)

Online shopping in Nigeria has begun to undergo a revolution thanks to AR and VR technology. The days of imagining how a piece of furniture might look in their living room or how a dress might fit their figure are long gone. Users can now test furniture in their homes, virtually try on clothing, and view products in 3D space thanks to AR and VR applications, which provide an engaging and immersive shopping experience. In addition to boosting consumer confidence, this trend lowers the likelihood of returns, improving operational efficiency for online retailers.


• Personalization and Artificial Intelligence (AI)

One cannot overstate the impact that AI is having on e-commerce. E-commerce platforms can now provide personalized product recommendations based on user preferences and browsing history thanks to AI algorithms that can analyze enormous amounts of consumer data. Customized offers, discounts, and marketing initiatives help customers feel special, which boosts their loyalty and increases the lifetime value of each customer. AI will become more and more crucial in determining how Nigerian e-commerce develops as it continues to advance.


• Solutions for Cashless Payments

The e-commerce sector is actively promoting cashless payment options, even though cash is still the preferred payment method for many Nigerians. Retailers are increasingly accepting mobile wallets, online payment gateways, and contactless payment methods as they look to streamline transactions, lower the chance of problems involving cash, and appeal to tech-savvy customers.


• Influencer Marketing

For e-commerce companies in Nigeria, influencer marketing is still a very successful tactic. Consumer behavior is significantly impacted by influencers, who have a devoted following on social media platforms. E-commerce businesses can successfully connect with their target audience and increase brand awareness and sales by working with local influencers who are familiar with Nigerian culture and consumer preferences.


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• Omnichannel Retailing

Customers can switch between different channels without experiencing any interruptions thanks to omnichannel retailing, which seamlessly integrates online and offline shopping experiences. E-commerce businesses in Nigeria are adopting omnichannel strategies, setting up physical locations, and integrating their online and offline presences. Customers can select the most convenient shopping method based on their preferences and circumstances, which improves customer convenience and fosters brand loyalty.


• Peer-to-Peer Commerce

This is quickly gaining popularity in the Nigerian e-commerce market, where buyers can quickly and easily connect with sellers to complete transactions. The Jiji platform is a typical illustration, where users can turn unwanted or used items into cash by selling them directly to buyers. Customers can now easily raise money to finance their projects, businesses, education, or even japa expenses, which is a huge advantage.

Even though these trends continue to shape the industry and play an increasingly significant role in the expansion of the Nigerian market, the country's e-commerce sector is poised for continued growth this year. When these occur, we would be eager to run the numbers.

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