Nigeria’s Swift Commerce Market Flourishes: Glovo and Chowdeck Spearhead the Advancement
The quick commerce and food delivery sector in Nigeria is witnessing an exhilarating expansion, propelled by prominent platforms such as Glovo and Chowdeck.
Recent statistics reveal that Glovo has generated over N71 billion in revenue for its Nigerian partners since its inception in 2021. This remarkable figure was unveiled at the Future of Commerce 2025 Summit held in Lagos.
– Glovo’s Impact: Generation of over N71 billion in revenue for local partners since 2021
– Chowdeck’s Milestones: Over 1 million registered users, N30 billion in total delivery value by October 2024, alongside notable vendor achievements, including:
– “Amoke Oge” vendor completing over 500,000 deliveries, accruing an estimated N2.3 billion in revenue
– Korede Spaghetti vendor exceeding N1 billion in sales
Market Expansion:
– Glovo operates in 11 cities, with 70% of its activities concentrated in Lagos
– Over 6,000 restaurants and retail outlets enlisted, supported by 2,400 active delivery riders
– Chowdeck operates across 8 states, sustaining over 3,000 vendors and 10,000 delivery riders
Growing Digital Payments:
– Glovo reported a 76% surge in gross merchandise value (GMV) in 2024
– Cash transactions declined from 88% in 2021 to 39%, signifying a burgeoning preference for digital payments
Emerging Players:
– Other noteworthy entities in Nigeria’s food delivery arena include Foodcourt, Bolt Food, HeyFood, UrbanEats, MANO, and Foodelo
– Riders’ daily earnings range from N15,000 to N25,000, reflecting increasing economic opportunities within the sector
These platforms are revolutionizing consumer access to food and fostering growth for small enterprises across Nigeria.
