Nigeria Social Commerce Market Intelligence and Future Growth Dynamics Databook – Q2 2023 Update” report has unveiled a dynamic trajectory for Nigeria’s social commerce industry.

Bucking expectations, the sector is poised for an astonishing annual growth rate of 43.3%, projected to catapult the industry to a substantial $1.19 billion by the end of 2023.

According to Research And Markets, Beyond this immediate milestone, the report charts an even more impressive journey, forecasting a staggering Compound Annual Growth Rate (CAGR) of 33.4% from 2023 to 2028.

This meteoric rise in the Gross Merchandise Value (GMV) is set to see the industry’s worth ascend from $1.19 billion to an eye-popping $5.04 billion by 2028.

The report’s data-centric analysis provides an intricate assessment of the social commerce landscape, offering businesses an invaluable understanding of market opportunities and associated risks.

To read more, click the link below
https://www.primebusiness.africa/nigerias-social-commerce-to-reach-5-04-billion-by-2028/