Dublin, Feb. 28, 2024 (GLOBE NEWSWIRE) -- The "Nigeria Buy Now Pay Later Business and Investment Opportunities Databook - 75+ KPIs on BNPL Market Size, End-Use Sectors, Market Share, Product Analysis, Business Model, Demographics - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.
The burgeoning Buy Now Pay Later (BNPL) sector in Nigeria is set to experience significant growth, according to a new data-centric analysis that has been recently published. BNPL payments in the nation are expected to expand by 11.2% compounded annually from 2024 through 2029, propelling the gross merchandise value in the industry from US$2.80 billion in 2023 to an estimated US$5.59 billion by the end of the forecast period.
The comprehensive report offers an in-depth view of the BNPL landscape, highlighting over 75 key performance indicators (KPIs) at the country level. It meticulously details the BNPL market size, forecast, and market share statistics, providing a robust framework for understanding the dynamics of this evolving payment method.
Commissioned to serve both new investors and established enterprises, the report's scope encompasses a myriad of insightful parameters:
- The trajectory of gross merchandise value trend analysis, transaction volume, and average value per transaction within Nigeria's BNPL sector.
- Revenue breakdowns, including insights on merchant commission, missed payment fees, and other significant income streams.
- Operational KPIs such as active consumer base sizes and delinquency rates.
- End-use sector growth opportunities, from retail shopping to healthcare and wellness.
- Consumer behaviour metrics, parsing sales uplift data and demographic adoption trends.
The research leverages a data-driven approach, carefully crafted to deliver comprehensive insights into the various business models, merchant ecosystems, and distribution models prevalent within Nigeria’s BNPL industry. The report not only examines the current market share of leading BNPL providers but also forecasts trends across offline and online sales channels.
With a vivid focus on various retail categories, this analytical tool delves into nuances such as convenience versus credit-focused BNPL offerings, and the distinction between open-loop and closed-loop systems. Each market segment is scrutinized to provide stakeholders with actionable intelligence that can inform strategic planning and investment decisions.
Digital transformation and the rising trend of e-commerce in Nigeria have served as catalysts for the growth of BNPL payment solutions. As the convenience of flexible payment options continues to resonate with consumers, the market is expected to sustain its upward momentum, further accelerated by innovative BNPL business models and partnerships.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 88 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $3.3 Billion |
| Forecasted Market Value (USD) by 2029 | $5.6 Billion |
| Compound Annual Growth Rate | 11.2% |
| Regions Covered | Nigeria |
For more information about this report visit https://www.researchandmarkets.com/r/l8dpa4
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