Nigeria

In 2023, consumer appliances faced a notable decline across categories, primarily attributed to exacerbated inflation. The local currency depreciation and a surge in fuel prices, along with a Federal Government demonetisation policy, collectively…

In 2023, beer witnessed substantial decline in volume terms as the ongoing high inflationary conditions in Nigeria weakened consumer purchasing power. Beer unit prices rose significantly due to rising production costs caused by higher fuel costs and…

Cigarettes witnessed a deeper decline in volume terms, as the challenging economic conditions in Nigeria continued in 2023. High inflation limited purchasing power forcing consumers to cut back on cigarette consumption. The depreciation of the local…

In line with the general trend in beauty and personal care, skin care in Nigeria saw strong retail current value sales growth in 2023, but declines in retail volume and value (constant 2023 prices) sales. Like other categories, skin care was hit by…

Colour cosmetics in Nigeria was also negatively impacted by poor economic conditions in 2023, as high inflation weakened consumer spending power as unit prices of all brands rose strongly. The strong rises in unit prices drove strong retail current…