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 financially excluded consumers, severely impacted sales in the first quarter. Cash became scarce, resembling a precious commodity, hindering consumers' ability to make daily purchases. Convenience stores, reliant on cash transactions, experienced a...
Euromonitor International's Convenience Retailers in Nigeria report offers insight into key trends and developments driving the industry. The report examines all retail channels to provide sector insight. Channels include hypermarkets, supermarkets, discounters, convenience stores, mixed retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers. There are profiles of leading retailers, with analysis of their performance and the challenges they face. There is also analysis of non-store retailing: vending; homeshopping; internet retailing; direct selling, as available.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report? * Get a detailed picture of the Convenience Retailers market; * Pinpoint growth sectors and identify factors driving change; * Understand the competitive environment, the market’s major players and leading brands; * Use five-year forecasts to assess how the market is predicted to develop.
Convenience Retailers in Nigeria
Euromonitor International
February 2024
List Of Contents And Tables
CONVENIENCE RETAILERS IN NIGERIA
KEY DATA FINDINGS
2023 DEVELOPMENTS
Currency redesign disruption
Inflationary pressures and shifts in consumer behaviour
Thriving amidst essential-focused strategies
PROSPECTS AND OPPORTUNITIES
Transportation cost reduction strategy
Urban expansion and market penetration
Adaptation to economic realities
CHANNEL DATA
Table 1 Convenience Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 2 Convenience Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 3 Sales in Convenience Retailers by Channel: Value 2018-2023
Table 4 Sales in Convenience Retailers by Channel: % Value Growth 2018-2023
Table 5 Convenience Retailers GBO Company Shares: % Value 2019-2023
Table 6 Convenience Retailers GBN Brand Shares: % Value 2020-2023