Carmudi, Others for Nigeria's First E-Commerce Exhibition

The Information Technology Developers Entrepreneurship Accelerator (iDEA-Hub), Yaba, Lagos State, will this weekend play host to Nigeria's first ever e-commerce exhibition.

The likes of carmudi.com.ng, rip.com.ng, naija ticket shop, open heavens mobile app, will be participating at the exhibition.

According to the organizers, ecex.com.ng, the platform is to offer online businesses the opportunity to exhibit their services as well as listen to lectures from experts that have excelled in their various fields.

Also techpointng, techblaz, , evolve synergy limited, whoot Africa,  etc will be in house.

Panelists include Stephine Obi, CEO Saint Hub Limited, Uche Briggs, Biodun Makinde, Udo Obong amongst others.

Nigeria E-Commerce Outlook

In 2014 Nigeria recorded over $2 million worth of online transactions per week and close to $1.3 billion monthly.

Nigeria’s e-commerce market is developing rapidly, with an estimated growth rate of 25 percent annually.

According to emarketer, an online researcher, while e-commerce across the rest of the world is growing at 16.8 per cent, Africa’s e-commerce space is growing at a rate of 25.8 per cent – making it the fastest growing in the world.

Of course, Nigerians are notorious for their love of shopping.

For instance, the Euromonitor Nigeria in a 2011 report revealed that Nigerians spend $6.3 billion per year on clothing.

Also, in a recent survey conducted by Philip Consulting 38 percent of Nigerians prefer to buy products through the internet. Middle class consumers are the biggest purchasers online.

Nigeria’s middle class now accounts for 28 percent of the population, and the middle class are well educated, with 92 percent having completed a post-secondary school education.

This middle class is brand conscious and tech savvy and their technology of choice is a mobile device.