Deprecated: mb_convert_encoding(): Handling HTML entities via mbstring is deprecated; use htmlspecialchars, htmlentities, or mb_encode_numericentity/mb_decode_numericentity instead in /var/www/nairametrics/wp-content/themes/nairametrics/functions.php on line 104

According to a report by Euromonitor International, a global market research organisation, Nigerians spent N62.4 billion shopping online in 2011, up from N49.9 billion in 2010. This represents a 25 percent growth rate in one year.

This growth is an indication of the potentials in e-commerce. Jumia which celebrated its first anniversary yesterday serves over half a million customers in Nigeria to date. The new milestone means that Jumia is now the fourth most visited Nigerian website.

 

Nigeria’s online retail market expands as Jumia raises $35m