Modern Trade Formats Are Upping Their Game In Nigeria

 In International
Nigeria’s retail sector is dominated by traditional trade formats like open markets and kiosks in terms of absolute store numbers. Despite the prevalence of these channels, the Nielsen Nigeria Shopper Trends 2017 synidicated report reveals that modern trade formats like supermarkets and hypermarkets are stepping up to fulfill the needs of consumers.Modern trade has the means to provide a comprehensive shopping experience, but in tougher economic times shoppers are actively seeking promotions and value for money that would make their trip to the stores worthwhile.
In terms of the main shopping destinations, more than half of shoppers visit supermarkets and hypermarkets, which together, account for 26{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of spend. Beyond modern trade, 76{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of consumers shop in open markets, and on average, shoppers frequent these outlets 10 times a month or twice a week. The second-highest number of shoppers (61{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}) visit kiosks, but far more frequently at 20 times a month, although a smaller proportion of their grocery spend (12{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}) is in this channel.
The main reason Nigerians embark on a shopping trip is for regular pantry restocking, followed by essential or emergency items at 16{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} and everyday needs. Sydney Monring Herald – Read more…

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