Electronics market in Nigeria
The Nigerian Electronics eCommerce market is predicted to reach US$1,707.7 million by 2023 and accounts for 25.2% 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 -31.0%, resulting in a projected market volume of US$387.1 million by 2027. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.
Market development
eCommerce revenue development in the Refrigerators market in Nigeria
The Nigerian Refrigerators eCommerce market is predicted to reach US$108.9 million by 2023 and accounts for 22.3% of the Household Appliances 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 -30.1%, resulting in a projected market volume of US$26.0 million by 2027. The Refrigerators eCommerce market is a sub-market of the Household Appliances market. Further categories within the Household Appliances market are: Cookers & Ovens, Dishwashers, Other Household Appliances, Small Kitchen Appliances, Vacuum Cleaners, and Washing Machines.
eCommerce revenue development in the Refrigerators market in Nigeria
Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.
Source: ECDB analysis
eCommerce revenue growth in the Refrigerators market in Nigeria
Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.
Source: ECDB analysis
Net eCommerce revenue split by sub-category
Note: Data shown is using current exchange rates.
Source: ECDB analysis
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 80.3 | 23.8 | 76.6 | 11.8 | 34.7 | 61.8 | 13.7 | 27.1 |
| AOV (in US$) | 82.2 | 70.9 | 42.5 | 93.0 | 95.7 | 95.1 | 6.5 | 3.5 |
| CVR (in %) | 80.3 | 23.8 | 76.6 | 11.8 | 34.7 | 61.8 | 13.7 | 27.1 |
Market definition
Definition of the Refrigerators market within the Electronics market
Market definition: Electronics > Electrical Appliances > Household Appliances > Refrigerators The category Refrigerators includes the online trade of french door refrigerators, top-freezer refrigerators, bottom-freezer refrigerators, and more. This category does not cover freezers and commercial and industrial refrigerators. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- French door refrigerators
- Top-freezer refrigerators
- Bottom-freezer refrigerators
- Side-by-side refrigerators
- Counter-depth refrigerators
- Compact refrigerators
- Wine refrigerators and beverage centers
Out-of-scope
- Freezers
- Commercial and industrial refrigerators
Select sub-category