The target audience for online entertainment, e-commerce and fintech industry are the Generation Z, or Gen Z of people born between 1995 and 2010. The 'Z' in the name means "zoomer", as this is the first generation known to 'zoom' the internet.
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Majority of them make up the population of 65 million Nigerians using social media platforms.
They spend $975m daily on online betting.
According to one of the fast rising upwardly mobile Nigerian Gen Z techies, Benjamin Unah, Co-Founder & Chairman - Primeries
https://primeries.com/, the #1
streetwear marketplace that connecting shoppers to the hardest streetwear brands and creatives in Africa, "they are the most active shoppers online and subscribers of entertainment providers for streaming music and movies."
According to the report on Understanding the Gen Z in Nigeria: Trends and Insights - Sagaci Research
Male Nigerian consumers aged 18-25 exhibit different shopping behaviours compared to older ones. A significant 58% of them would rather go to a shop than buying products online versus 47% of the older group. This result stems from young people’s preference for a physical experience; they want to visit stores, see the product firsthand, and make their choice in person. Additionally, 26% of these younger consumers prefer using cash, a higher percentage than the 16% observed in the 26+ demographic.
In contrast, older consumers are more inclined to use debit cards, with 41% opting for this payment method compared to 29% of the younger age group. Following recent banking issues in Nigeria, younger people now prefer to keep physical cash on hand for added security and to avoid potential problems.
Read the complete report on
https://sagaciresearch.com/gen-z-nigeria-insights/
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https://sagaciresearch.com/gen-z-nigeria-insights/
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