Soaring costs push Nigerians to pre-owned market as demand jumps 97%

Nigerians are moving towards pre-owned goods as rising costs of living squeeze household budgets, with demand rising by 97 percent year-on-year, according to Jiji, Africa’s leading online marketplace’s first-quarter 2026 data.

The data showed that Nigerians are abandoning brand-new items in favour of high-quality pre-loved alternatives.

For decades, owning brand-new (tear rubber) goods was a status symbol in Nigeria, but times are changing. Today, that culture is undergoing major shifts backed by data and influenced by macroeconomic adjustments.

The report also showed that the surge in searches for used items translated to a record 40 million+ visits in Q1 alone.

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“This behavioral shift directly correlates with the country’s economic climate, as the National Bureau of Statistics reports inflation hovering around 15 percent in March 2026 (post-rebased CPI methodology).

“With consumer purchasing power facing sustained pressure over the past two years, the traditional retail sector has become prohibitively expensive for the middle class,” the report stated.

Statista and localised economic reports showed a steep contraction in real consumer spending, causing a strategic redirection of household budgets.

Smart Nigerian shoppers are trading up in the secondary market rather than downgrading their lifestyles, as buying used is no longer viewed as a compromise but has become the definitive marker of a financially disciplined and practical consumer.

For Emeka, a Lagos-based software developer, buying a brand new smartphone right now just doesn’t make economic sense.

“I can get a used UK version of the latest model on Jiji for a fraction of the retail price. I really don’t care about showing off the unboxing anymore. My goal is to spend wisely and save up to upgrade my tech gear,” he said.

Jiji added that this sentiment is echoing across categories, from phones and tablets to cars and electronics, and as the average price of vehicles soared over the last 24 months, small businesses and families have turned to the circular economy for survival and scale.

“For my logistics business, investing in a new delivery van was completely out of the question with the current dealership prices. I turned to the used market and found a Nigerian-used bus in good condition. The decision I made is what has kept my business running this year,” said Aisha, an entrepreneur in Abuja.

The data highlights a maturing market where consumers actively dictate their spending limits.

Jiji’s Q1 2026 metrics showed an 81 percent quarterly spike in searches using the discount filter for phones, alongside an 11 percent increase in the usage of strict price-cap filters (exceeding 345,000 unique sessions in Q1 alone).

This indicates that impulse buying has been completely replaced by frugal commerce.

Maxim Makarchuk, chief operating officer at Jiji, noted that this is a structural evolution in African retail.

“We’re witnessing a fundamental change in Nigerian consumer psychology. The stigma once attached to second-hand items has completely evaporated.

“Today, securing a high value pre-loved item is recognised as a flex of financial intelligence. At Jiji, we’re providing the transparent and secure infrastructure that allows Nigerians to bypass inflated retail markups, maintain their standard of living, and keep the domestic economy moving,” Makarchuk said.

As Nigeria navigates its path toward economic recovery, the tear-rubber era is making way for a time of sustainable and smart commerce.

With Nigerians now embracing the pre-loved or used items market, they’re taking back control of their wallets, proving that while purchasing power may be squeezed, the demand for quality remains as resilient as ever.

Jiji operates across several African countries, connecting buyers and sellers across categories such as vehicles, electronics, property and services. The platform reports more than 12 million monthly users who engage with over 5 million ads with a total value of over $15 billion.