PROSPECTS AND OPPORTUNITIES
Urbanisation and population growth to drive homewares and furnishings
The outlook for homewares and home furnishing stores is positive, with demand expected to rise in line with population growth and urbanisation. As economic conditions improve and consumer incomes recover, households are likely to shift from second-hand goods to new, higher-quality home products.
Pet shops and superstores to benefit from growing pet care culture
As pet ownership increases across Nigeria, pet shops and superstores are poised for steady growth. The trend is expected to move beyond affluent households and gain traction among the middle class as disposable incomes rise.
Home specialist retailers to embrace omnichannel and flexible payment solutions
To remain competitive, home products specialists will increasingly adopt omnichannel strategies, combining physical stores with robust online platforms and mobile applications. This approach will allow them to overcome space limitations in stores and respond to evolving consumer preferences for convenience and personalisation.
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Overview:
Understand the latest market trends and future growth opportunities for the Home Products 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 Home Products 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 Home Products 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 Home Products Specialists in Nigeria?
- Which are the leading retailers in Home Products 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?
Home Products Specialists in Nigeria - Category analysis
KEY DATA FINDINGS
Homewares and home furnishing stores perform well despite economic challenges
Pet shops and superstores gain traction among affluent consumers
Vitafoam Nigeria strengthens its leadership through innovation and omnichannel retail
Urbanisation and population growth to drive homewares and furnishings
Pet shops and superstores to benefit from growing pet care culture
Home specialist retailers to embrace omnichannel and flexible payment solutions
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:
Home Products Specialists
- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
Home Products Specialists
The aggregation of home improvement and gardening stores, homewares and home furnishing stores, and pet shops and superstores.
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 Home Products Specialists research and analysis database.
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