Nigeria

Demand for sportswear was negatively impacted by the weak economy in 2023, which was caused by high inflation which weakened consumer spending power as the cost of living rose. Although the category registered healthy growth in current value terms in…

Staple foods saw a decline in both retail and foodservice volume sales in 2023, despite most categories being considered essential by local consumers. Poor economic conditions, exceptionally high inflation and limited consumer spending power forced…

Store cards had no presence in Nigeria over the review period. This is not expected to change over the forecast period. 

The adoption of less restrictive COVID-19 measures in 2021 allowed street stalls and hawkers to resume their activities. While the economic shock of lockdown measures led many consumers to be more conservative in their discretionary spending, demand…

Sugar confectionery in Nigeria is falling in the face of the negative impact of inflationary conditions and a weak economy in 2024. Local consumers grapple with falling incomes and reduced spending power and are thus prioritising core and essential…