Retail in Nigeria

Why you should consider nigeria


As Africa proves to be the next growth driver of the world economy, Nigeria represents the stepping stone to anyone seeking to invest on the continent.
How does it relate to Retail ?

"Africa represents our fastest-growing region in the world. If you want to be relevant, you need to be in this part of the world ".


​DOMINIC BARTON, GLOBAL MANAGING DIRECTOR OF MC KINSEY & COMPANY

3 reasons why to choose Nigeria


Nigeria is Africa's Behemoth and It is Growing Steadily

Nigeria runs the Wold's most dynamic population through the 21st century. According to a UN forecast, Nigeria's population will grow from 180M today to 260M in 2030, setting an unprecedented growth of 44%. By 2050, Nigeria should reach 400M people and become the third biggest country after China and India.


A Strong and Growing Middle Class

Contrary to popular belief, Nigeria is far for being a poor country.
According to the World Bank (2014), GDP per capita (PPP) lies at 5911$, at comparable levels with India (6020$), Vietnam (5692$) and more than the double than Kenya (2954$) or Ivory Coast (358$). Despite strong inequalities, a strong middle class has emerged.
More than 20 million Nigerians are now considered middle class, an additional 30 million would make it into that category by 2030 (Standard Bank).


A Lack of World Class Brands Offers

The Nigerian market suffers from the lack of major sales brands. Long crippled by the scarcity of world-class malls to host them, Nigeria is catching up quickly. Various commercial real estate developments are ongoing under the impulse of international supermarkets chains such as Shoprite and Spar. These developments turn Nigeria into the most active actor in commercial real estate of West Africa. .

 
 

The Right Place...

but is it the Right Time to enter the market ?



if you are not convinced yet...

A few things more to keep in mind


Nigeria is a Market Living a Transition from Informal to Formal

Would you believe that the biggest sales place for smartphone has no roof?
Yet, Alaba market sells millions of mobiles every year. Did you know that 85% spirits sales are made via informal channels, starting with Balogun market?
Emerging countries always undergo a transition from informal to formal distribution networks. Our role is to help companies to manage this transition while taking advantage of the best of both worlds.

Africa's Internet Giant

With 86 Million users in 2016, Nigeria represents Africa's largest pool of Internet users. The country has been leapfrogging traditional Internet penetration patterns, with a rapid rise of mobile web penetration, as more than 15 million mobile phone holders own smartphones.
​ E-commerce platforms have witnessed a growing base of users, with 65% of internet users already shopping online and a further 24% expected to do so in the future according to a Paypal survey (2015).