Sales of hosiery should see a return to growth in retail volume terms from 2024 onwards, fuelled by an expected improvement in the local economy. The key consumers of the category are professional workers who wear formal footwear and therefore as professional employment increases demand for hosiery such as socks is expected to also increase.
Non-sheer hosiery is the dominant category in hosiery and will continue to drive overall growth due to the generally low interest in sheer hosiery by Nigerian consumers. The wearing of stockings and tights is not customary among Nigerian women.
Modern apparel and footwear specialist retailers are expected to begin to see greater visibility as the Nigerian economy recovers which should help to pull more consumers away from informal trade in hosiery. Whilst the challenging economic conditions seen in the second half of the review period took their toll on retail chains such as Mr Price and Max, forcing them to exit the market, there remains good potential for retail chains that stock a variety of affordable apparel and footwear, including hosiery.
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Understand the latest market trends and future growth opportunities for the Hosiery industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Hosiery industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Hosiery
This report originates from Passport, our Hosiery research and analysis database.
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