Nigeria Online Retail Marketplaces: From Order Growth to Profitable Scale
Nigeria's Online Retail Marketplaces Are Scaling Beyond Transactions: Ken Research Examines the Profitability Test Nigeria's online retail marketplaces market is entering a phase in which transaction growth must translate into more durable operating returns. The August 2026 Ken Research market assessment estimates the market at USD 7,050 million in 2025 , with a forecast of USD 17,641 million by 2032 , representing a compound annual growth rate (CAGR) of 14.00% . These proprietary estimates use a marketplace-led physical-goods gross merchandise value (GMV) basis, making the relationship between completed orders, basket value and fulfillment efficiency central to the commercial outlook. The underlying change is a shift from acquiring customers to generating repeat purchases and monetizing merchant relationships, logistics coordination and advertising. Yet higher transaction volume does not automatically produce stronger margins when delivery costs, returns, import price...