E-commerce websites in Nigeria are beginning to feel an immense proportion of the economic turmoil in the country as the number of visitors have dropped to an all time low; and without visitors, there can’t be customers or sales.
Nigeria’s e-commerce market records transactions volume of about 300,000 online orders on daily basis, and $2 million dollars of weekly revenue which translates to $104 million annually.
A review of data on website visits has shown that Konga’s total visits dropped to 2.5 million in May 2016, from 7.2 million in December 2015. Similarly, visits to Jumia Nigeria have dropped to 6.9 million from 13.4 million in December 2015. In addition, its global rank as estimated by Alexa has dropped 168 places to 1,110, with a bounce rate of 29.40 percent which has worsened by 25 percent in the past three months.
Lower E-commerce sites by visitors’ volume such as Yudala has witnessed a drop in traffic from 390 thousand in December 2015, to 160 thousand in May 2016, and Dealdey dropped to 371 thousand from 470 thousand in December 2015. For Dealdey, its global rank has dropped 662 places to 7,282 while its bounce rate of 25.5 percent has worsened 18 percent in the past three months.
Kaymu has appeared to be an exception to the trend, moving upwards from 440 thousand in December 2015, to 1.65 million by May 2016, however, its bounce rate increased by 44.4 percent, meaning more people left the website without executing transactions.
