Fashion market in Nigeria
The Nigerian Fashion eCommerce market is predicted to reach US$1,295.1 million by 2023 and accounts for 19.1% of the total eCommerce market in Nigeria. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be -30.9%, resulting in a projected market volume of US$295.6 million by 2027. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.
Market development
eCommerce revenue development in the Backpacks & Daypacks market in Nigeria
The Nigerian Backpacks & Daypacks eCommerce market is predicted to reach US$17.6 million by 2023 and accounts for 28.6% of the Luggage & Bags eCommerce market in Nigeria. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be -29.4%, resulting in a projected market volume of US$4.4 million by 2027. The Backpacks & Daypacks eCommerce market is a sub-market of the Luggage & Bags market. Further categories within the Luggage & Bags market are: Handbags, Hip & Fanny Packs, Other Luggage & Bags, and Suitcases.
eCommerce revenue development in the Backpacks & Daypacks market in Nigeria
Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.
Source: ECDB analysis
eCommerce revenue growth in the Backpacks & Daypacks market in Nigeria
Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.
Source: ECDB analysis
Net eCommerce revenue split by sub-category
Note: Data shown is using current exchange rates.
Source: ECDB analysis
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 81.5 | 84.5 | 9.4 | 38.7 | 14.7 | 5.4 | 92.1 | 42.9 |
AOV (in US$) | 99.8 | 15.5 | 99.4 | 93.9 | 47.8 | 83.6 | 62.2 | 89.0 |
CVR (in %) | 81.5 | 84.5 | 9.4 | 38.7 | 14.7 | 5.4 | 92.1 | 42.9 |
Market definition
Definition of the Backpacks & Daypacks market within the Fashion market
Market definition: Fashion > Bags & Accessories > Luggage & Bags > Backpacks & Daypacks The category Backpacks & Daypacks includes the online trade of backpacks (e.g laptop backpacks, trekking backpacks, roll-top backpacks), daypacks and duffel and barrel bags. This category does not cover handbags. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Backpacks (e.g laptop backpacks, trekking backpacks, roll-top backpacks)
- Daypacks
- Duffel and barrel bags
Out-of-scope
- Handbags
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