Paypal ranks Nigeria as the third biggest nation of online shoppers spending £338m

NIGERIA has been ranked the third highest nation in the world when it comes to online shopping according to a recent report by Paypal which revealed that 55% of cross border online purchases in the country were carried out using its platform.

 

According to Paypal, despite the downturn in the Nigerian economy of late and the scarcity of dollars in the country, Nigerians have used its platform for 55% of cross-border purchases over the last 12 months. Furthermore, PayPal revealed that Nigerian consumers spent N128.1bn (£338m) on online shopping in 2015 and this figure is expected to rise to N172bn by the end of this year.

 

Mobile Money PayPal’s general manager Africa and Israel Efi Dahan, said: “Nigerians are doing so wherever and whenever they want to, using their mobile devices as an essential shopping tool. Nigerian online shoppers have realised that the world is their shopping mall when it comes to buying what they need and want.

 

"They are no longer limited to what they can buy domestically. They are confidently scouring the globe for great deals, more choice, high quality and premier brands.”

 

According to the report, Nigeria is home to some of the keenest mobile shoppers on the African continent and is also the third largest mobile commerce market in terms of incidence of mobile shoppers among the countries that participated in a recent research. With 72% of online consumers shopping on a smartphones in Nigeria, the country follows China with 86% and India with 82% in terms of incidence of shopping via smartphones.

 

A large majority of consumers pick smartphones to shop online both when shopping cross-border and locally in Nigeria. In terms of the value of this spending, consumers estimate that mobile shopping accounts for 38% of their total online spend and 36% of cross-border purchases, with the trend forecast to continue.