Market research on consumer products, commercial industries, demo...
Market research on consumer products, commercial industries, demographics trends and consumer lifestyles in Nigeria. Includes comprehensive data and analysis, tables and charts, with five-year forecasts.
2023 commenced with significant challenges for retail in Nigeria, including a cash crunch in the first quarter triggered by the central bank's redesign of the local currency. This adjustment impacted many consumers in Nigeria's cash-based economy.…
In 2023, retail e-commerce in Nigeria experienced significant growth and transformation, driven by various developments and trends that shaped the landscape of online shopping in the country. Online shopping witnessed a surge in popularity among…
Following the takeover by Retail Supermarkets Nigeria in 2021, Shoprite embarked on a significant expansion drive, signalling robust growth for hypermarkets in Nigeria in 2023. The opening of new outlets, such as the flagship store in Port-Harcourt,…
The high inflation rate in 2023 significantly contributed to the growth of home products specialists in Nigeria. The Federal Government's support for mortgage loans, particularly the increase in loan limits from fifteen million to fifty million…
In 2023, health and beauty specialists in Nigeria experienced robust growth, buoyed by high inflation that supported sales of essential items. Consumers prioritising their well-being contributed to the positive growth of this channel. Pharmacies…
In 2023, general merchandise stores in Nigeria faced a notable decline in sales, primarily due to shifting consumer preferences driven by high inflation. As the cost of living rose, consumers found themselves grappling with reduced purchasing power,…
Despite the potential for affordability offered by discounters, the overall spending power of Nigerian consumers experienced a decline, dampening the growth for this retail channel in Nigeria in 2023. With inflation soaring, consumers became…
Direct selling in Nigeria faced challenges in 2023 as the country grappled with high inflation, resulting in decreased purchasing power among consumers. The direct selling model, predominantly conducted through social commerce and word of mouth, saw…
The currency redesign initiated by the Central Bank of Nigeria in early 2023 created significant challenges for convenience retailers. The scarcity of the local currency, coupled with Nigeria's predominantly cash-driven economy and a large segment of…
Appliances and electronics specialists in Nigeria experienced a downturn in 2023 as consumers grappled with economic challenges. Rising costs of appliances and electronics prompted consumers to reassess their purchasing priorities, leading to a…