Nigeria, which will surpass Israel as the 39th-largest market for eCommerce, is expected to generate US$7,627.6 million by 2023.
Market volume is anticipated to reach US$11,707.0 million by 2027, with revenue estimated to grow at a compound annual growth rate (CAGR 2023–2027) of 11.3%. Nigeria's eCommerce market is anticipated to expand by 25.5% in 2023, contributing to a global growth rate of 17.0%. Global eCommerce sales are anticipated to grow over the coming years, just like they did in Nigeria.
Within the Nigerian eCommerce industry, Gobuyam.com takes into account five markets. The biggest market in Nigeria and the source of 39.3% of all eCommerce sales is electronics and media. Following it are Fashion (22.3%), Furniture & Appliances (15.7%), Food & Personal Care (12.7%), Toys, Hobby & DIY (10.1%), and Furniture & Appliances.