Nigeria

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…

Dishwashers experienced a substantial volume decline in 2023, primarily attributable to the severe economic conditions characterised by high inflation, significantly restricting consumer spending power. Considered niche and non-essential by the…

Due to its essential nature, hand dishwashing continued to grow in retail volume during 2023 despite increased prices, high inflation, and declining purchasing power. Due to the high cost of transportation after the removal of fuel subsidies, most…

Volume sales for drinking milk products decrease notably in 2023, albeit at a considerably slower rate than experienced in 2022 when the decline was much more pronounced. Nevertheless, the prevailing inflationary conditions continue to impact demand…

Edible oils declined in volume terms in 2023, following only weak volume growth in 2022. Inflationary conditions that had been strong in 2022 worsened in 2023 due to the continuing depreciation of the local currency, a government policy of…

The year 2023 witnessed a wave of new launches in energy drinks. Cway Food & Beverages Co Nig introduced Boxi Energy Drink, positioned as a health-conscious energy beverage, devoid of caffeine and other potentially unhealthy stimulants. Available in…

Overcrowding and poor hygiene standards in certain areas of the country have increased the prevalence of cataracts, glaucoma and trachoma, a potentially blinding eye disease caused by bacterial infection. This has led to an increase in demand for OTC…

Nigeria continues to be a cash economy, though debit cards in particular are growing in popularity. Also, in 2023, this growth was further amplified, due to a cash shortage, as there was insufficient supply of the newly designed naira. As a result,…

Food preparation appliances faced significant challenges in 2023, predominantly influenced by adverse economic conditions in Nigeria. High inflation rates, a devalued local currency, and surges in fuel prices collectively constrained consumer…