Retail in Nigeria
Aug 8th 2011, 14:35
Following our editorial entitled Africa: the next big retail destination in the FMCG Files 04.08.11 it is noteworthy to look at Nigeriaâ€™s retail sector, which is under-utilised according to international standards. In spite of this, Nigeria seems to be a place of opportunity for retailers.
The country has a prosperous middle class, a positive growth outlook, and an increasingly stable and democratic environment. All of these factors make Nigeria, which is also Africaâ€™s largest nation, a promising prospect for retailers. This is assuring when considering that incomes in Nigeria are almost five times lower than in South Africa and around half of the Chinese average.
These factors have seen more modern shopping centres opening in the country and increased investments by supermarket operators, like Shoprite and SPAR. But, contrary to these
developments, a great portion of food retailing in Nigeria is informal and made up of traditional businesses.
It will be interesting to see how retailing develops in Nigeria with retailersâ€™ continued interest in Africa.
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