As the Nigerian economy improves over the forecast period, it is expected that hosiery will record a good performance. Rising employment will boost growth, since the key consumer demographic for the category is the professional working population which tends to dress formally.
A growing interest in fitness and exercise activities such as jogging, gym exercising, and playing of sports such as football is expected to help drive demand for specialist hosiery products that can be worn with sports footwear, such as sneakers. Whilst not all footwear requires hosiery, sports footwear is generally complemented by socks, so growth of sports footwear is likely to be complemented by demand for hosiery.
An improved economy is likely to boost hosiery sales via formal, modern apparel retail chains, which will help to reduce sales via the large informal sector. As consumers become more familiar with these retailers, they should be less likely to patronise cheap, unbranded and counterfeit products, particularly as such brands are affordably priced.
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Understand the latest market trends and future growth opportunities for the Hosiery 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 Hosiery 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.
Hosiery
This report originates from Passport, our Hosiery research and analysis database.
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