Spending Trends Of The Nigerian Consumer In This Busy Season
OpenLife Nigeria reproduces data analysis by Aleph Group, a leader in the digital and technology fields,
of the spending curves of Nigerians in this busy season
The festive season is approaching, so consumers are preparing to splurge on a holiday and spend hard-earned money on much-needed items.
But how are Nigerian consumers spending their cash?
New insights reveal insights into the trends of the Nigerian consumer as the busy season beckons.
“The peak shopping season highlights how increasingly tech-driven Nigerian consumers have become,” said Jesudetan Onasanya, Aleph’s Regional Lead, Sub-Saharan Africa.
“Retailers must recognise that value, convenience, and digital engagement are no longer options but vital elements of a successful retail strategy.”
Which platforms are Nigerian shoppers using to purchase goods and services?
85% of Nigerian consumers use online shopping in one way or another.
The same percentage of respondents claim they use the internet to research products they intend to purchase.
An overwhelming number of consumers use popular online shopping platforms, with 70.5% purchasing from traditional e-commerce sites.
42.5% said they had bought merchandise. Audio streaming profiles like Spotify, where users spend an average of 2.8 hours daily, provide a valuable platform to reach new consumers.
Ads are delivered to users in a way that is personalised and relevant, making the experience non-intrusive.
31.6% purchased items from food, grocery, and delivery apps, highlighting the growing trend of online grocery shopping.
Consumer habits during peak season shopping
Consumers are getting ready to indulge in holiday shopping and visiting e-commerce sites for special deals.
During these periods, 36% of consumers surveyed said they always make online purchases during peak online shopping seasons, with 15% waiting for enticing offers. 32.2% said they were unaware of the shopping season but would purchase something online if it was a good deal.
Social media is the best way to connect with Nigerian consumers
Nearly half of consumers (44%) claim to learn about new product offerings by viewing ads placed ahead of online videos.
Social media apps like Snapchat are one of the most popular ways to market new products to consumers, with 61% of respondents identifying social networking platforms as how they discover new items.
Social media is considered the most effective to reach consumers, with 72.3% believing social media adverts are the most impactful.
On platforms such as Snapchat, the average daily time is over 40 minutes, and the audience is over 16 million people.
Access to a digitally savvy audience through platforms like Snapchat is unmatched.
In-store shopping is losing its stronghold on Nigerian shoppers
Social media also has the most significant influence on Nigerian consumers’ purchasing decisions, at 42.3%. Just 2.4% of respondents said they do 100% of their shopping online, whereas 15.8% of consumers claim they do 75% online.
Nigerian customers who shop in-store still use the internet to inform their purchasing decisions. 18.5% of Nigerian consumers read online product reviews and ratings before deciding, while 13.9% compare prices online.
Pinterest, for example, has become the go-to destination for Gen Z consumers to discover new trends.
71% of users are high to medium-income earners, making it a captive audience to tap into, potentially driving high-value purchases.
Why Nigerian consumers prefer to shop online
48.8% of Nigerian consumers surveyed claim the main reason is convenience and the ability to save time, negating the need to visit a store in person.
Seeing customer reviews and product ratings is another benefit, with 35.8% listing this as a motivating factor behind online shopping.
Plenty of benefits to shopping online
Nigerian consumers have identified several factors that make e-commerce the clever choice. 69.2% of respondents said reasonable prices positively impacted their online shopping experience, while fast and free delivery made the experience more enjoyable.
A fuss-free returns policy and the ability to spend loyalty points are also among the highlights of e-commerce.
Where next for consumers and e-commerce platforms?
Brands must identify the correct social media platforms for the consumers they want to market to.
For example, platforms like X have seven million active users, 84% of whom are aged 18-34, making them ideal for targeting the tail end of Gen Z or the younger side of the Millennial generation. Understanding your target audience is essential.
Nigerian consumers’ buying habits during peak shopping seasons reflect a shift towards affordability and convenience—those who fail to adapt risk being left behind in an ever-competitive market.
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