Nigeria

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…

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…

Rising inflation and high importing costs affected the growth of full-service restaurants in 2023, especially those offering international cuisines. Global inflation also reduced tourism in the country, which impacted full-service restaurants as…

Chained limited-service operators continue to perform well in 2023 despite the high inflation that has impacted consumers’ purchasing power. The desire to eat out or order quality and hygienic food online among generation Z and millennial consumers…

In 2023, apparel and footwear specialists in Nigeria contended with a challenging retail environment characterised by low consumer purchasing power and rising inflation. As consumers prioritised essential items such as groceries and medicine,…

Appliances and electronics specialists in Nigeria experienced a downturn in 2023 as consumers grappled with economic challenges. Rising costs of appliances and electronics prompted consumers to reassess their purchasing priorities, leading to a…

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…

Direct selling in Nigeria faced challenges in 2023 as the country grappled with high inflation, resulting in decreased purchasing power among consumers. The direct selling model, predominantly conducted through social commerce and word of mouth, saw…

Despite the potential for affordability offered by discounters, the overall spending power of Nigerian consumers experienced a decline, dampening the growth for this retail channel in Nigeria in 2023. With inflation soaring, consumers became…

In 2023, general merchandise stores in Nigeria faced a notable decline in sales, primarily due to shifting consumer preferences driven by high inflation. As the cost of living rose, consumers found themselves grappling with reduced purchasing power,…