Electronics market in Nigeria

Market development

eCommerce revenue development in the Electronics market in Nigeria

The Nigerian Electronics eCommerce market is predicted to reach US$616.5 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$839.3 million by 2028. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.

eCommerce revenue development in the Electronics market in Nigeria

in million US$

eCommerce revenue growth in the Electronics market in Nigeria

in %

Net eCommerce revenue split by sub-category

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)94.477.28.799.218.54.389.964.0

Online share

eCommerce online share of the total Electronics 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 Electronics retail market, the online share is 11.4% and will increase by an average of 10.8% to 17.1% by 2028.

eCommerce online share of the total Electronics market in Nigeria

in %
20202021202220232024202520262027
Online share (in %)82.4%80.7%38.2%77.5%38.9%59.9%8.7%72.1%

Top stores

Top five Electronics online stores in Nigeria by net sales 2023

With sales in the Nigerian Electronics market, jumia.com.ng generated a revenue of US$9.6 million in 2023, which means it is the leading online store in this market. The Electronics 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 Electronics market in Nigeria in 2023

in million US$
Filtered revenue / share
Global revenue
Growth
US$900.0m
20.7%
US$8,300.0m8.3%
US$550.0m
12.0%
US$4,600.0m12.4%
US$470.0m
3.9%
US$1,190.0m33.6%
US$430.0m
20.6%
US$2,122.0m18.0%
US$370.0m
20.7%
US$1,814.0m12.6%

Market definition

Definition of the Electronics market

Market definition: Electronics The category Electronics covers the sale of consumer electronics (e.g. computers, smartphones, TVs, headphones, game consoles) and appliances (e.g. refrigerators, washing machines, vacuum cleaners, coffee machines, hair dryers, electric toothbrushes) via digital channels. Online stores dedicated to the sale of mobile contracts and tariffs, set-up and installation services or software are not considered. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Consumer Electronics (e.g. computers, smartphones, TVs, headphones, game consoles)
  • Appliances (e.g. refrigerators, washing machines, vacuum cleaners, coffee machines, hair dryers, electric toothbrushes)

Out-of-scope

  • Mobile contracts and tariffs
  • Set-up and installation services
  • Software
  • Car electronics (e.g. navigation systems, car entertainment systems, dashcams)
  • Power tools