Megatrends in Nigeria
This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s 10 focus megatrends and insights as to how each trend has manifested in Nigeria.
Euromonitor's Megatrends in Nigeria report analyses factors influencing national consumer expenditure. Consumer lifestyles reports include coverage of: population, urban development, home ownership, household profiles, labour, income, consumer and family expenditure, health, education, eating habits, drinking habits, shopping habits, personal grooming, clothing, leisure habits, savings and investments, media, communication, transport and travel and tourism. Use this report to understand the factors influencing a nation's lifestyle choices.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
* Get a detailed picture of the Megatrends 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.
- Scope
- Businesses harness megatrends to renovate, innovate and disrupt
- The drivers shaping consumer behaviour
- Megatrends Framework
- Digital living is rapidly spreading across Nigeria
- Convenience
- On-demand 30-minute delivery app Chowdeck caters to busy urbanites
- Middle-class Nigerians will spend money to save time
- Consumers enjoy the guarantees of in-store shopping
- E-commerce provides flexibility and convenience
- Digital living
- Tecno drives 5G adoption in Nigeria with new Phantom V Flip 2 5G smartphone
- Video gaming remains highly popular among Nigeria’s youth
- Internet users are eager to protect their personal data
- Younger generations are more open to sharing data in return for special offers
- Nigerians still rely chiefly on personal connections for advice
- Most consumers expect more face-to-face interactions in future
- Diversity and inclusion
- Women Radio 91.7’s new virtual assistant, Nimi, aims to empower Nigerian women
- Millennials are the most actively involved in politics
- Middle-class Nigerians are keen to embrace other cultures
- Experience more
- P65 Pop-Up Store provides immersive experiences to showcase Itel’s latest products
- Consumers appreciate experiences of all types
- Nigerians are more likely than global peers to value digital experiences
- Personalisation
- Nigerian brand Miskay Boutique offers personalised styling via its Miskay App
- Millennials are keen to develop an online persona
- The possibility for self expression is important to Nigerians
- Premiumisation
- Berger Paints innovates with Nigeria’s first eco-friendly premium matt paint
- Millennials yearn for an easier life
- Most are confident in their long-term investments, despite economic challenges
- Nutrition and high quality are important attributes for shoppers
- Pursuit of value
- Jumia expands its BNPL offerings through new partnerships with CredPal and Easybuy
- Baby Boomers are the thriftiest cohort
- The cost-of-living crisis hits Millennials hardest
- Nigerians show growing support for the circular economy
- Millennials are the most intent on saving money
- Shopper reinvented
- Online grocery app Pricepally set to scale up its operations
- Most consumers want personalised experiences
- Nigerians continue to favour in-store shopping
- Consumers enjoy engaging with brands on social media
- Younger shoppers embrace social shopping
- Sustainable living
- Nestlé Nigeria steps up its efforts to meet sustainability goals
- Nigerians are keen to support environmental and ethical causes
- Older consumers are most likely to back local businesses
- Wellness
- Arla Foods launches evaporated milk products tailored to Nigerian families’ needs
- Nigerians are looking for more nutritious food choices
- Consumers remain highly aware of personal safety outside the home
- Leverage the power of megatrends to shape your strategy today
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