PROSPECTS AND OPPORTUNITIES
Economic growth to boost demand for apparel accessories
With economic recovery over the forecast period, apparel accessories is expected to grow well, particularly as consumer spending power recovers. Apparel accessories will see solid demand for mass products among lower income consumers, whilst premium accessories will continue to benefit from fashion conscious higher income consumers who seek a variety of premium accessories to complement outfits.
Rising formal employment will drive demand for accessories that complement professional attire
The increase in formal, professional employment will boost larger categories such as ties and belts, as well as cufflinks and bracelets. However, whilst ties remain a fairly small category within apparel accessories, belts is expected to drive overall demand as it is the largest category and is expected to grow well.
Growing young female population will boost demand for scarves and other apparel accessories
The growth of the young, female population, particularly in urban areas will also help to drive sales growth in apparel accessories. Whilst apparel accessories, such as belts and ties, are important among the professional working male population, young women are important consumers of fashionable accessories such as braces, hair accessories, and scarves.
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Overview:
Understand the latest market trends and future growth opportunities for the Apparel Accessories 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 Apparel Accessories 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.
The Apparel Accessories in Nigeria report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Apparel Accessories in Nigeria?
- Which are the leading brands in Nigeria?
- How are products distributed in Nigeria?
- How is the rise of e-commerce shaping demand?
- What % of apparel and footwear sales are made via grocery retailers?
- Do consumers want premium quality or fast fashion?
- How will COVID-19 and recession impact demand?
- How important is sustainability in Apparel Accessories in Nigeria?
- Where is future growth expected to be most dynamic?
Apparel Accessories in Nigeria - Category analysis
KEY DATA FINDINGS
Apparel accessories struggles as inflation rises further
Belts, scarves, and other apparel accessories lead in performance
Strong informal market offers competition to branded products in a fragmented landscape
Economic growth to boost demand for apparel accessories
Rising formal employment will drive demand for accessories that complement professional attire
Growing young female population will boost demand for scarves and other apparel accessories
Apparel and Footwear in Nigeria - Industry Overview
Apparel and footwear in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for apparel and footwear?
DISCLAIMER
The following categories and subcategories are included:
Apparel Accessories
- Belts
- Gloves
- Hats/Caps
- Scarves
- Ties
- Other Apparel Accessories
Apparel Accessories
Supplementary garments and clothing articles consisting of items as belts, scarves, gloves, hats, ties and other accessories. Knitted accessories (hats, scarves and gloves) are also included. Includes all such products designed for men, women, children, and infants. Shoes, bags and sunglasses are excluded and attributed to Footwear, Travel Goods and Sunglasses respectively.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Apparel Accessories research and analysis database.
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