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Nigeria Buy Now Pay Later Report 2021: BNPL Payments are Expected to Grow by 59.3%

·4-min read

Dublin, Aug. 27, 2021 (GLOBE NEWSWIRE) -- The "Nigeria Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook - 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics" report has been added to ResearchAndMarkets.com's offering.

The penetration of pay-later cards in Nigeria is low at 0.7 cards per 100 individuals, lagging behind peer countries including Egypt and South Africa. The adoption of credit cards in Nigeria was stalled owing to economic uncertainty in the country, which led banks to become conscious about consumer lending. However, going forward, the BNPL is expected to grow backed by consumer internet in credit especially among high income consumers and middle-class population.

According to the Q4 2020 BNPL Survey, BNPL payment in the country is expected to grow by 59.3% on annual basis to reach US$ 325.4 million in 2021.

Medium to long term growth story of BNPL industry in Nigeria remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 20.4% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 204.3 million in 2020 to reach US$ 1195.7 million by 2028.

This report provides a comprehensive view on size and structure, industry dynamics, market trends, consumer attitude and behaviour, and competitive landscape in Buy Now Pay Later industry in Nigeria. The report focuses on data-centric analysis of Buy Now Pay Later market dynamics to help companies understand business and investment opportunities along with risks.

It details market opportunities across 40 market segments in Buy Now Pay Later for the period 2019-2028 and identifies opportunities in Nigeria. It captures essential KPIs such as Gross Merchandise Value, Volume, and Average Value Per Transaction across end-use segments.

Scope

Nigeria BNPL Market Size and Spending Pattern

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

Nigeria Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast

  • Online Channel

  • POS Channel

Nigeria Buy Now Pay Later in Retail Shopping: Market Size and Forecast

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

Nigeria Buy Now Pay Later in Home Improvement: Market Size and Forecast

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

Nigeria Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

Nigeria Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

Nigeria Buy Now Pay Later in Education: Market Size and Forecast

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

Nigeria Buy Now Pay Later in Automotive: Market Size and Forecast

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

Nigeria Buy Now Pay Later Analysis by Consumer Attitude and Behaviour

  • Buy Now Pay Later Sales Uplift by Product Category

  • Buy Now Pay Later Spend Share by Age Group

  • Buy Now Pay Later Gross Merchandise Share by Income

  • Buy Now Pay Later Gross Merchandise Value Share by Gender

  • Buy Now Pay Later Adoption Rationale Gross Merchandise Value Analysis

Reasons to Buy

  • In-depth Understanding of Buy Now Pay Later Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028). Understand market dynamics through essential KPIs such as Gross Merchandise Value, Volume, and Average Value Per Transaction.

  • Insights into Opportunity by end-use sectors - Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.

  • Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate BNPL strategy; assess market specific key trends, drivers, and risks in the BNPL industry.

  • Get Insights into Consumer Attitude and Behaviour: Drawing from proprietary survey results, this report identifies and interprets key Buy Now Pay Later KPIs, including spend by age, gender, and income level.

For more information about this report visit https://www.researchandmarkets.com/r/d777t1

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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