PROSPECTS AND OPPORTUNITIES
Improving economy to support demand
A more stable economic environment is expected to benefit appliances and electronics retailers, driven by urbanisation, population growth, and rising middle-class consumption. Stronger investment in the national power grid – such as the NGN263 billion earmarked for modernising substations and transmission lines – will further support appliance demand.
Sustainability to gain traction in product and brand strategy
As energy insecurity continues to affect urban centres like Lagos, energy-efficient appliances will become increasingly important for Nigerian households. Retailers are expected to respond with wider availability of low-consumption products, including solar-compatible and inverter-based appliances.
BNPL to fuel growth in high-value categories
The growing popularity of BNPL services is transforming how consumers access appliances and electronics in Nigeria. Historically dominated by informal lay-buy arrangements, the market is now shifting as fintech and microfinance partnerships introduce more formalised, flexible credit models.
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Overview:
Understand the latest market trends and future growth opportunities for the Appliances and Electronics Specialists 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 Appliances and Electronics Specialists 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 Appliances and Electronics Specialists 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 Appliances and Electronics Specialists in Nigeria?
- Which are the leading retailers in Appliances and Electronics Specialists in Nigeria?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How has the impact of COVID-19 and national lockdown impacted consumer demand?
- Which formats have benefited the most from stockpiling and enforced home seclusion?
- How will the wider economic impact of COVID-19 shape the retail landscape in the future?
- Where is future growth expected to be most dynamic?
Appliances and Electronics Specialists in Nigeria - Category analysis
KEY DATA FINDINGS
Buy Now Pay Later expands as economic constraints persist
Slot retains leadership with wide product range and payment solutions
E-waste crisis escalates as electronics sales grow
Improving economy to support demand
Sustainability to gain traction in product and brand strategy
BNPL to fuel growth in high-value categories
Retail in Nigeria - Industry Overview
Retail in 2024: The big picture
Small grocers continue to dominate despite expansion in chained stores
Technology continues to transform the retail landscape
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Christmas
Back to School
DISCLAIMER
Appliances and Electronics Specialists
Appliances and electronics specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: domestic electrical appliances, consumer electronics (including mobile phones), and/or computers and peripherals. Appliances and electronics specialists value sales excludes revenues derived from telecoms service plans and top-up cards. Example brands include Apple, Best Buy, and Gome.
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 Appliances and Electronics Specialists research and analysis database.
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