PROSPECTS AND OPPORTUNITIES
Economic recovery to support rebound for department stores
Department stores are expected to benefit from improving economic conditions in the medium term. A more stable macroeconomic environment should enhance consumer confidence and spending power, particularly among middle- and upper-income shoppers.
Variety stores to remain key growth driver within the channel
Variety stores are projected to be the most dynamic sub-category over the forecast period. With room for geographic expansion and growing consumer appetite for curated product assortments, the channel is well placed to attract new shoppers.
Omnichannel strategies to become critical for competitiveness
The adoption of omnichannel strategies will be a decisive factor for success across the general merchandise landscape. As consumer expectations evolve, retailers will need to bridge the gap between physical and digital experiences.
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Overview:
Understand the latest market trends and future growth opportunities for the General Merchandise Stores 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 General Merchandise Stores 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 General Merchandise Stores 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 General Merchandise Stores in Nigeria?
- Which are the leading retailers in General Merchandise Stores 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?
General Merchandise Stores in Nigeria - Category analysis
KEY DATA FINDINGS
Department stores remain under pressure amid inflation
Variety stores appeal to value-seeking urban consumers
General merchandisers lag behind in digital transformation
Economic recovery to support rebound for department stores
Variety stores to remain key growth driver within the channel
Omnichannel strategies to become critical for competitiveness
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:
General Merchandise Stores
- Department Stores
- Variety Stores
General Merchandise Stores
The aggregation of department stores and variety stores.
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 General Merchandise Stores research and analysis database.
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