PROSPECTS AND OPPORTUNITIES
Recovery and urbanisation to support channel growth
Although convenience retailers are expected to face ongoing challenges in the short term, growth prospects are positive over the forecast period. As the Nigerian economy recovers, retail value sales are set to benefit from rising urbanisation, especially in peripheral areas.
Omnichannel strategies to enhance convenience propositions
Convenience retailers are likely to increase investment in omnichannel retailing to remain competitive. As internet penetration improves and demand for home delivery grows, many operators will explore low-cost digital tools such as WhatsApp to support curb side pick-up and digital ordering.
Discounter expansion to shape future competition
The rise of discounter formats such as Bokku poses a growing threat to traditional convenience stores, particularly as they continue to offer appealing price points to inflation-weary consumers. While convenience stores will remain relevant due to their location and extended hours, price competition will intensify.
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Overview:
Understand the latest market trends and future growth opportunities for the Convenience Retailers 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 Convenience Retailers 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 Convenience Retailers 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 Convenience Retailers in Nigeria?
- Which are the leading retailers in Convenience Retailers 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?
Convenience Retailers in Nigeria - Category analysis
KEY DATA FINDINGS
Inflation and discounter competition weigh on performance
Addide maintains dominance through convenience and omnichannel services
Forecourt operators diversify to remain profitable
Recovery and urbanisation to support channel growth
Omnichannel strategies to enhance convenience propositions
Discounter expansion to shape future competition
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
The following categories and subcategories are included:
Convenience Retailers
- Convenience Stores
- Forecourt Retailers
Convenience Retailers
The aggregation of convenience stores and forecourt retailers.
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 Convenience Retailers research and analysis database.
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