<h4>Spending Trends Of The Nigerian Consumer In This Busy Season</h4>
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<p><strong><a href="https://openlife.ng/">OpenLife Nigeria</a> </strong>reproduces data analysis by Aleph Group, a leader in the digital and technology fields,<br />
of the spending curves of Nigerians in this busy season</p>
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<p>The festive season is approaching, so consumers are preparing to splurge on a holiday and spend hard-earned money on much-needed items.</p>
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<p>But how are Nigerian consumers spending their cash?</p>
<p>New insights reveal insights into the trends of the Nigerian consumer as the busy season beckons.</p>
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<p>&#8220;<em><strong>The peak shopping season highlights how increasingly tech-driven Nigerian consumers have become,&#8221;</strong> </em>said Jesudetan Onasanya, Aleph&#8217;s Regional Lead, Sub-Saharan Africa.</p>
<p>&#8220;<em><strong>Retailers must recognise that value, convenience, and digital engagement are no longer options but vital elements of a successful retail strategy.&#8221;</strong></em></p>
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<p><strong>Which platforms are Nigerian shoppers using to purchase goods and services?</strong></p>
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<p>85% of Nigerian consumers use online shopping in one way or another.</p>
<p>The same percentage of respondents claim they use the internet to research products they intend to purchase.</p>
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<p>An overwhelming number of consumers use popular online shopping platforms, with 70.5% purchasing from traditional e-commerce sites.</p>
<p>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.</p>
<p>Ads are delivered to users in a way that is personalised and relevant, making the experience non-intrusive.</p>
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<p>31.6% purchased items from food, grocery, and delivery apps, highlighting the growing trend of online grocery shopping.</p>
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<p><strong>Consumer habits during peak season shopping</strong></p>
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<p>Consumers are getting ready to indulge in holiday shopping and visiting e-commerce sites for special deals.</p>
<p>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.</p>
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<p><strong>Social media is the best way to connect with Nigerian consumers</strong></p>
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<p>Nearly half of consumers (44%) claim to learn about new product offerings by viewing ads placed ahead of online videos.</p>
<p>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.</p>
<p>Social media is considered the most effective to reach consumers, with 72.3% believing social media adverts are the most impactful.</p>
<p>On platforms such as Snapchat, the average daily time is over 40 minutes, and the audience is over 16 million people.</p>
<p>Access to a digitally savvy audience through platforms like Snapchat is unmatched.</p>
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<p><strong>In-store shopping is losing its stronghold on Nigerian shoppers</strong></p>
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<p>Social media also has the most significant influence on Nigerian consumers&#8217; 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.</p>
<p>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.</p>
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<p>Pinterest, for example, has become the go-to destination for Gen Z consumers to discover new trends.</p>
<p>71% of users are high to medium-income earners, making it a captive audience to tap into, potentially driving high-value purchases.</p>
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<p><strong>Why Nigerian consumers prefer to shop online</strong></p>
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<p>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.</p>
<p>Seeing customer reviews and product ratings is another benefit, with 35.8% listing this as a motivating factor behind online shopping.</p>
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<p><strong>Plenty of benefits to shopping online</strong></p>
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<p>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.</p>
<p>A fuss-free returns policy and the ability to spend loyalty points are also among the highlights of e-commerce.</p>
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<p><strong>Where next for consumers and e-commerce platforms?</strong></p>
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<p>Brands must identify the correct social media platforms for the consumers they want to market to.</p>
<p>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.</p>
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<p>Nigerian consumers&#8217; 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.</p>
<figure id="attachment_26879" aria-describedby="caption-attachment-26879" style="width: 300px" class="wp-caption alignnone"><img class="size-medium wp-image-26879" src="https://openlife.ng/wp-content/uploads/2024/09/E-Passports-300x197.jpg" alt="Visa-Free Countries Nigerian Passport Can Travel {Full List}" width="300" height="197" /><figcaption id="caption-attachment-26879" class="wp-caption-text"><em><strong>Nigerian passport</strong></em></figcaption></figure>

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