Nigeria Retail Report Q4 2016

Publisher Name :
Date: 31-Aug-2016
No. of pages: 67

BMI View: Nigeria will endure an economic contraction in 2016, driven by external and domestic

challenges, exacerbated by a series of controversial monetary and fiscal policy developments. We believe

that the economy bottomed out in the second quarter of the year and, therefore, forecast a 0.8% real GDP

contraction in 2016 as a result. Furthermore, inflation has risen sharply over the past several months, and

averaged 13.3% over the first six months of 2016, rising from 9.6% in January to 16.5% in June. While this

may impact negatively on household spending, overall consumer spending patterns are unlikely to change

significantly, meaning that any increases in non-essentials spending will be driven primarily by the highestearning

Nigerian households.

Key Views And Developments

? We forecast consumer price inflation to average 15.1% in 2016, up from last year's estimated 9.0%,

stretching household budgets and reducing spending on non-essentials.

? We hold to our view that the Nigerian naira will strengthen before the end of 2016, as macroeconomic

conditions will encourage a return in investment, and therefore expect investment in the retail sector to

remain buoyant.

? Almost 2.2mn households will be in the USD10,000-plus income bracket by the end of 2016,

representing 4.1% of the total.

? Mstore owner, Dubai-based MidCom Group, announced in August 2016 that it would be investing a

further USD50mn in expanding its mobile phone and electronic goods outlets across Africa over the next

three years, including building its presence in Nigeria.

? US-based hair beauty retailer Her Imports reported in July 2016 that sales from its new store in Lagos

were four times higher than projected, following its first month of trading.

Nigeria Retail Report Q4 2016

Table of Contents

BMI Industry View 7
SWOT 9
Industry Forecast 10
Headline Retail Forecast 10
Table: Total Household Spending (Nigeria 2013-2020) 12
Table: Retail Sector Spending, % Of Total (Nigeria 2013-2020) 13
Table: Retail Sector Spending, % of GDP (Nigeria 2013-2020) 14
Table: Headline Retail Sector Spending (Nigeria 2013-2020) 16
Retail Sector Forecast 19
Food, Drink And Tobacco 21
Table: Food, Drink & Tobacco Spending (Nigeria 2013-2020) 21
Clothing And Footwear 22
Table: Clothing & Footwear Spending (Nigeria 2013-2020) 22
Household Goods 23
Table: Household Goods Spending (Nigeria 2013-2020) 23
Table: Consumer Electronics Spending (Nigeria 2013-2020) 24
Table: Toys, Sports, Gardens and Pets Spending (Nigeria 2013-2020) 25
Personal Care 25
Table: Personal Care Spending (Nigeria 2013-2020) 25
Household Numbers and Income Forecast 27
Table: Household Income Data (Nigeria 2013-2020) 28
Demographic Forecast 32
Table: Total Population (Nigeria 2013-2020) 35
Table: Population: Babies (Nigeria 2013-2020) 35
Table: Population: Young Children (Nigeria 2013-2020) 36
Table: Population: Children (Nigeria 2013-2020) 36
Table: Population: Young Teens and Older Children (Nigeria 2013-2020) 36
Table: Population: Young People (Nigeria 2013-2020) 37
Table: Population: Older Teenagers (Nigeria 2013-2020) 37
Table: Population: 21yrs + (Nigeria 2013-2020) 38
Table: Population: Young Adults (Nigeria 2013-2020) 38
Table: Population: Middle Aged (Nigeria 2013-2020) 38
Table: Population: Urban (Nigeria 2013-2020) 39
Industry Risk/Reward Index 40
Sub-Saharan Africa Risk/Reward Index 40
Table: Sub-Saharan Africa Retail Risk/Reward Index, Q416 40
Industry Risk Reward Index 41
Rewards 41
Risks 42
Market Overview 44
Competitive Landscape 50
Clothing And Footwear 50
Table: Selected Clothing & Footwear Retailers 50
Household Goods 50
Table: Selected Household Goods/Homeware/Home Improvement Retailers 50
Electronics 51
Table: Selected Electronics Retailers 51
Department Stores 52
Table: Selected Department Stores 52
E-Commerce 53
Table: Selected E-Commerce/Online Marketplaces 53
Drug Stores/Pharmacies 53
Table: Selected Drug Stores/Pharmacies 53
Glossary 54
Methodology 61
Industry Forecast Methodology 61
Sources 64
Risk/Reward Index Methodology 64
Table: Retail Risk/Reward Index Indicators 65
Table: Weighting Of Indicators 67

List of Tables

Table: Total Household Spending (Nigeria 2013-2020)
Table: Retail Sector Spending, % Of Total (Nigeria 2013-2020)
Table: Retail Sector Spending, % of GDP (Nigeria 2013-2020)
Table: Headline Retail Sector Spending (Nigeria 2013-2020)
Table: Food, Drink & Tobacco Spending (Nigeria 2013-2020)
Table: Clothing & Footwear Spending (Nigeria 2013-2020)
Table: Household Goods Spending (Nigeria 2013-2020)
Table: Consumer Electronics Spending (Nigeria 2013-2020)
Table: Toys, Sports, Gardens and Pets Spending (Nigeria 2013-2020)
Table: Personal Care Spending (Nigeria 2013-2020)
Table: Household Income Data (Nigeria 2013-2020)
Table: Total Population (Nigeria 2013-2020)
Table: Population: Babies (Nigeria 2013-2020)
Table: Population: Young Children (Nigeria 2013-2020)
Table: Population: Children (Nigeria 2013-2020)
Table: Population: Young Teens and Older Children (Nigeria 2013-2020)
Table: Population: Young People (Nigeria 2013-2020)
Table: Population: Older Teenagers (Nigeria 2013-2020)
Table: Population: 21yrs + (Nigeria 2013-2020)
Table: Population: Young Adults (Nigeria 2013-2020)
Table: Population: Middle Aged (Nigeria 2013-2020)
Table: Population: Urban (Nigeria 2013-2020)
Table: Sub-Saharan Africa Retail Risk/Reward Index, Q416
Table: Selected Clothing & Footwear Retailers
Table: Selected Household Goods/Homeware/Home Improvement Retailers
Table: Selected Electronics Retailers
Table: Selected Department Stores
Table: Selected E-Commerce/Online Marketplaces
Table: Selected Drug Stores/Pharmacies
Table: Retail Risk/Reward Index Indicators
Table: Weighting Of Indicators
  • Italy Retail Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 60
    BMI View: Strong domestic retailers, especially in the clothing segment, and a modest economic outlook will limit room for new market entrants throughout our forecast period to 2020. Nonetheless, bright spots do exist, including budget brands - as highlighted by the recent market entry of Primark and the success of cosmetics brand Kiko - and online retailing, which is slowly catching up with Western European peers. Key Views & Developments ? Primark opened its first......
  • Peru Retail Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 62
    BMI View: Over our forecast period to 2020, we believe Peru's retail sector will continue experiencing constant growth, stemming from substantial household spending growth. Positive investing into the development of retail space such as shopping malls will boost the growth outlook for modern retailing and increase Peru's attractiveness to foreign retailers looking to expand in the region. Key Trends & Developments ? Pedro Pablo Kuczynski won the runoff of the Peruvi......
  • Uganda Retail Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 58
    BMI View: We expect growing investment in Uganda's retail sector over our forecast period to be largely driven by essential spending, stemming from low income households driving spending. The proportion of essential and non-essential spending throughout the end of our forecast period to 2020 will remain largely unchanged, on the back of marginal growth in disposable incomes. In light of this, prospect for formalisation will dominantly be in the food and drink segment.......
  • Czech Republic Retail Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 64
    BMI View: We hold a bullish outlook for the Czech Republic's retail sector in 2017 and over the remainder of our forecast period to 2020. While the market is highly competitive, particularly in key categories such as mass grocery retail and household goods, rising incomes will drive demand for higher-quality goods and services across the board. Key Trends & Developments ? We forecast that total household spending will increase by 9.4% y-o-y in 2017. We project a sli......
  • India Retail Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 68
    BMI View: For the second consecutive quarter, landmark government policies have had a major impact on retailers and their ease of doing business in the country. For example, in November, the government cancelled circulation of INR500 and INR1,000 notes, requesting that they be traded in for smaller bills. This will lead to an immediate drop in sales for retailers as consumers queue up to trade in notes, however, over the longer term this will benefit e-wallet platforms, c......
  • Argentina Retail Report Q1 2017
    Published: 23-Nov-2016        Price: US 1295 Onwards        Pages: 65
    BMI View: Weak purchasing power on the back of high inflation and a significant depreciation in the Argentine peso will undermine household spending over 2016. However, over 2017, as inflationary pressures subside, due to the effects of subsidy cuts fading, and the peso appreciates, we expect household spending to rebound into positive territory. Furthermore, a rebound in economic growth will result in a marked improvement in investor sentiment and the labour market which......
  • Australia Retail Report Q1 2017
    Published: 23-Nov-2016        Price: US 1295 Onwards        Pages: 65
    BMI View: Australia's retail market benefits from its sophisticated nature as well as a high earning consumer group. However, through to 2020, we believe the country's slowing consumer sentiment will shift consumption demand towards affordability, which will slow growth for non-essential spending over the coming quarters. Changing consumption patterns will drive the growth of online retailing as industry maturity limits new long-term growth prospects. Key Views And ......
  • Germany Retail Report Q1 2017
    Published: 23-Nov-2016        Price: US 1295 Onwards        Pages: 64
    BMI View: Germany is already one of the most attractive Retail markets in the world, due to its large urbanised population and high spending power. This has made it easy for retail companies to target large numbers of consumers in cities and towns throughout the country and with a strong consumer outlook. This should only serve to increase our bullish view. With incoming foreign investment from large companies such as Topshop, there is a risk of oversaturation and too muc......
  • Hong Kong Retail Report Q1 2017
    Published: 23-Nov-2016        Price: US 1295 Onwards        Pages: 69
    BMI View: A stark decline in tourists from Mainland China and negative wealth effects from a correction in real estate prices will negatively affect Hong Kong's retail sector. We expect luxury retailers to be hit the hardest as Chinese consumers account for a large proportion of luxury sales in the special administration region. Domestic consumption growth will slow, however, high incomes will buoy the retail sector. Key Views And Developments ? According to Hong Ko......
  • SERVICES
    Value for Money
    We believe in "optimum utilization of available budget and resources". While servicing our clients' (your) market research requirements, we keep the same approach in focus to help you get the best value for your $$s.
    Ever Growing Inventory
    Ranging from the smallest feasible / required data (datasheets, data facts, SWOT analysis, company profiles, etc) to full research reports that help you make decisions, our inventory is updated almost on a daily basis with the latest industry reports from domain experts that track more than 5000 niche sectors.
    One Stop Solution
    Need a custom research report on medical devices market? Require all available business intelligence on 3D printing industry? Exploring F&B sector of a particular country/region? RnRMarketResearch.com is your one-stop-solution to all market intelligence needs. We not only offer custom research and consulting services, we also "bundle" reports to meet your needs and help you fetch the data analysis you require for your business.
    Dedicated Client Engagement
    Not limited to only "finding" relevant reports for you, our client engagement team dedicates its efforts to understand your "business need" and accordingly maps available research data to help you move forward. Call "your" client engagement executive any time of your day and get your questions answered in order to make the correct business decision.
    Saving Time and Efforts
    Simply share your research requirement details with us and let us do all the hard work to find required intelligence for you. When you add up our "one stop solution" and "dedicated client engagement" services mentioned above, you obviously know the time and effort saving you do by working with us.
    Payment Flexibility
    Working with Fortune 500 organizations, we understand the importance of being flexible for payments. Share your payment terms with us and we will surely match up to them to ensure you get access to required business intelligence data without having to wait for the payment to be done.
    Post-Purchase Research Support
    Have questions after reading a report / datasheet bought through us? Not sure about the methodology used for data available in the research? Talk to us / Share your questions with us and if required, we will connect you with the analyst(s)/author(s) of the report(s) and ensure you get satisfactory answers for the same. Need more data / analysis / report(s) on the topic of your research/project? The RnRMarketResearch.com team is here for you 24X7 to support you with your post-purchase requirements. Subscription Offers & Packages (Get in touch with us for more details - sales@rnrmarketresearch.com / +1 888 391 5441 )
    • Ad Hoc
    • Pay - as - you - go / Bucket Subscriptions
    • Fixed Cost for #of reports
    • Customize / Personalize as per your needs