Electronics market in Nigeria

The Nigerian Electronics eCommerce market is predicted to reach US$511.0 million by 2024 and accounts for 23.0% of the total eCommerce market in Nigeria. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 8.0%, resulting in a projected market volume of US$696.0 million by 2028. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.

Monthly revenues

Monthly eCommerce revenues in the Nigerian Electrical Appliances market

The monthly eCommerce revenue of the Nigerian Electrical Appliances market was US$15 million in October 2024. This refers to a growth of 6.8% compared to September 2024. Within the last 12 months, the monthly revenue share was the highest in November 2023 with 10.0% of the total 2023 revenue of the Nigerian Electrical Appliances market and the lowest in May 2024 with 6.9% of the total 2024 revenue.

Revenue Last Month

US$14.9m

The eCommerce revenue grew by 6.8% from September 2024 to October 2024.

10-2024+6.8%

Monthly revenue shares in the last 12 months

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

0-20241-20242-20243-20244-20245-20246-20247-20248-20249-202410-202411-2024
Revenue (in mUS$)0.00.00.00.00.00.00.00.00.00.00.00.0
Monthly revenue share (in %)74.513.816.584.978.733.264.319.718.294.20.260.8

Market development

eCommerce revenue development in the Electrical Appliances market in Nigeria

The Nigerian Electrical Appliances eCommerce market is predicted to reach US$167.1 million by 2024 and accounts for 32.7% of the Electronics eCommerce market in Nigeria. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 9.6%, resulting in a projected market volume of US$240.9 million by 2028. The Electrical Appliances eCommerce market is a sub-market of the Electronics market. Further categories within the Electronics market are: Consumer Electronics.

eCommerce revenue development in the Electrical Appliances market in Nigeria

in million US$

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 Electrical Appliances market in Nigeria

in %

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

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)39.373.568.283.577.65.626.40.1

Online share

eCommerce online share of the total Electrical Appliances market in Nigeria

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Nigerian Electrical Appliances retail market, the online share is 5.1% and will increase by an average of 8.7% to 7.1% by 2028.

eCommerce online share of the total Electrical Appliances market in Nigeria

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)60.6%38.7%50.1%72.2%52.3%81.8%13.6%61.8%

Top stores

Top five Electrical Appliances online stores in Nigeria by net sales 2023

With sales in the Nigerian Electrical Appliances market, slot.ng generated a revenue of US$2.6 million in 2023, which means it is the leading online store in this market. The Electrical Appliances ranking of Nigeria is based on all online stores that generated sales in this market in 2023. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The graph shows a filtered revenue. It only includes national sales within the respective market.

eCommerce net sales generated in the Electrical Appliances market in Nigeria in 2023

in million US$

Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed

Source: Annual report, secondary sources, ECDB analysis

Filtered revenue / share
Global revenue
Growth
no-access-0
US$900.0m
20.7%
US$8,300.0m8.3%
no-access-1
US$550.0m
12.0%
US$4,600.0m12.4%
no-access-2
US$470.0m
3.9%
US$1,190.0m33.6%
no-access-3
US$430.0m
20.6%
US$2,122.0m18.0%
no-access-4
US$370.0m
20.7%
US$1,814.0m12.6%

See further stores

Worldwide - Electrical Appliances Nigeria - Electrical Appliances Nigeria - All Categories

Market definition

Definition of the Electrical Appliances market within the Electronics market

Market definition: Electronics > Electrical Appliances The category Electrical Appliances covers the sale of household appliances (e.g. washing machines, dishwashers, vacuum cleaners, air conditioners), kitchen appliances (e.g. refrigerators, ovens, coffee machines, toasters) and personal care appliances (e.g. hair dryers, electric toothbrushes, electric shavers). This category does not cover consumer electronics (e.g. TVs, computers, printers) and lamps. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Household appliances (e.g. washing machines, dishwashers, vacuum cleaners, air conditioners)
  • Kitchen appliances (e.g. refrigerators, ovens, coffee machines, toasters)
  • Personal care appliances (e.g. hair dryers, electric toothbrushes, electric shavers)

Out-of-scope

  • Consumer electronics (e.g. TVs, computers, printers)
  • Lamps

Select sub-category