Nigeria

Dairy products and alternatives experience an overall decline in volume terms in 2023 as challenging economic conditions limit consumer spending power. In particular, high inflation driven by depreciation of the local currency, increasing fuel costs,…

Most banks perceive credit cards as high risk due to experiencing frequent default rates in the past. As such, credit cards continue to be relatively scarce in Nigeria, with mainly high net-worth individuals owning credit cards. Also, due to the…

On a landscape featuring local and international brands, consumers can access a wide array of choices. Brands like Emzolyn and Exiplon are popular among individuals with lower disposable incomes, while international counterparts, including Benylin,…

Cooking ingredients and meals saw a relatively strong decline in 2023 despite the fact that its major categories consist of several products that are central to consumer diets and even considered to be essential. Inflationary pressures, which had…

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…

This report visually explores everyday habits and behaviours which reflect consumers' beliefs and values, linking behavioural trends with purchase and consumption habits.

Consumer Types can be a powerful tool to help companies better understand and appeal to their target markets. By going beyond typical demographic-based segmentation, such as age or gender, and grouping consumers based on shared traits and…

Consumer Lifestyles offers valuable insights into key consumer attitudes and current thinking, and their impact on purchasing and consumption habits; quantifying behaviours, preferences and motivations, and aligning them with broader trends.

Gross consumer lending is expected to register growth in 2023, but with inflation continuing to be very high, it will not go far in terms of consumer spending. A new government has implemented some difficult decisions in order to stabilise the…

The harsh economic environment continued in 2023, challenging retail value sales in Nigeria and bolstering the use of counterfeit options in consumer health. However, barriers to healthcare increased the self-medication trend, driving the sale of OTC…

Weakened economic fundamentals have negatively impacted Nigerian consumers’ purchasing power in 2023, resulting in slow growth of consumer foodservice. The cash crunch in the first quarter of the year as a result of the central bank changing the…

Consumer foodservice through standalone is driving growth of consumer foodservice in Nigeria. Standalone eateries are popular amongst local consumers as they are larger and more spacious than other foodservice locations. To meet demand, foodservice…

The picture is expected to be bleak for consumer electronics in 2023, with overall volume sales expected to fall. A new government inherited a sluggish economy, record debt and shrinking oil output, due to creaking infrastructure. On foot of this,…

A new government inherited a sluggish economy, record debt and shrinking oil output, due to creaking infrastructure. On foot of this, the government has implemented some difficult decisions in order to stabilise the economy, including ending a…

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…

Concentrates has seen limited new product development recently, primarily due to stiff competition from affordable ready-to-drink juice and soft drink brands. Brands like Tang (Cadbury Nigeria Plc) and Kool2Go (Flour Mills of Nigeria Plc) faced…

Despite population growth, computer and peripherals are expected to only register a marginal increase in volume sales in 2023. Continued high inflation, as well as a significant devaluation of the naira, is expected to reduce consumer purchasing…

The commodities country overview provides comprehensive data on production, consumption and price trends on key commodities markets. The commodities overview in Australia covers production and consumption trends in agricultural commodities, energy…

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…

Nestlé Nigeria Plc has emerged as a frontrunner in retail coffee sales for the year 2023. The company's exceptional dominance is attributed to its expansive and efficient distribution network, which has facilitated the widespread availability of its…