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Strategy Briefing

A Snapshot of Our Newest Market: Consumer Appliances in Nigeria

14 pages, Jan 2018

US$1,325

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About This Report

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Euromonitor International’s Consumer Appliances research coverage is now extended to include Nigeria. As the largest economy in Sub-Saharan Africa, Nigeria is undoubtedly a market to take note of. This spotlight report provides a quick introduction to our latest research findings on consumer appliances trends in the market, highlighting key categories and challenges to growth.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

Nigeria is the region’s fastest growing market

In 2017, Nigeria’s consumer appliances industry witnessed the fastest percentage volume growth in the Middle East and Africa. Growth is, however, from a low volume base and follows a substantial drop in 2016. The country currently contributes just 5% of the region’s total volume sales.

Household access to facilities is limited and constrains industry growth

Compared to other markets in the region, Nigerian households have relatively limited access to electricity and water supply. This renders ownership of key major appliances, such as automatic washing machines, which require continuous electrical and water supply, pointless for some consumers. Access to electricity is further impeded by the country’s unstable power supply, which experiences frequent blackouts.

Market set to rebound from 2016 economic recession

Due to falling global oil prices, Nigeria witnessed its first economic recession in over two decades in 2016. This also impacted value and volume sales of consumer appliances, which declined over 2015-2016. The industry and economy rebounded in 2017, but the country is set to witness an expansion of its BOP in the long run and this may impact discretionary spending on white goods.

Access to domestic help and second-hand or informal purchases also impacts the industry, but low uptake of appliances presents opportunities for future growth

Most categories of major and small appliances have generally low penetration rates. Access to affordable domestic help is one contributing factor, as consumers rely on these services rather than appliances for cooking and cleaning tasks. Moreover, consumers continue to purchase goods either second-hand or from an informal market of illegally imported (untaxed) cheap products or “fake brands”, skewing the official count of new and replacement appliance sales. Nonetheless, the low penetration rates signify that the industry has room for growth.

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A Snapshot of our Newest Market: Consumer Appliances in Nigeria

A note on scope

Key findings

Nigeria in context: robust GDP but less than ideal business environment

Consumer appliances in context: where does Nigeria stand within MEA?

Recovery in sight for the economy and consumer appliances in 2017

Major appliances adoption has challenges but also high growth potential

LG Corp innovates to suit distinct local environment

Split air conditioners lead unit sales of small appliances

Personal care trends are led by the pursuit of natural hair

Implementation of energy efficiency standards is underway

Haier makes inroads through affordable, high quality products

Distribution trends: Online shopping gains gradual acceptance

Thrill of the deal: Black Friday offers proliferate both online and offline

Why buy this report?

Want to find out more about this report?

Request more information

Euromonitor International

Euromonitor International

Megatrends

Strategy Briefing

A Snapshot of Our Newest Market: Consumer Appliances in Nigeria

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Nigeria is the region’s fastest growing market

Household access to facilities is limited and constrains industry growth

Market set to rebound from 2016 economic recession

Access to domestic help and second-hand or informal purchases also impacts the industry, but low uptake of appliances presents opportunities for future growth

Want to find out more about this report?

Table of Contents

A Snapshot of our Newest Market: Consumer Appliances in Nigeria

A note on scope

Key findings

Nigeria in context: robust GDP but less than ideal business environment

Consumer appliances in context: where does Nigeria stand within MEA?

Recovery in sight for the economy and consumer appliances in 2017

Major appliances adoption has challenges but also high growth potential

LG Corp innovates to suit distinct local environment

Split air conditioners lead unit sales of small appliances

Personal care trends are led by the pursuit of natural hair

Implementation of energy efficiency standards is underway

Haier makes inroads through affordable, high quality products

Distribution trends: Online shopping gains gradual acceptance

Thrill of the deal: Black Friday offers proliferate both online and offline

Why buy this report?

Want to find out more about this report?

Recently Viewed

Recently Viewed

Megatrends

Strategy Briefing

A Snapshot of Our Newest Market: Consumer Appliances in Nigeria

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Nigeria is the region’s fastest growing market

Household access to facilities is limited and constrains industry growth

Market set to rebound from 2016 economic recession

Access to domestic help and second-hand or informal purchases also impacts the industry, but low uptake of appliances presents opportunities for future growth

Want to find out more about this report?

Table of Contents

A Snapshot of our Newest Market: Consumer Appliances in Nigeria

A note on scope

Key findings

Nigeria in context: robust GDP but less than ideal business environment

Consumer appliances in context: where does Nigeria stand within MEA?

Recovery in sight for the economy and consumer appliances in 2017

Major appliances adoption has challenges but also high growth potential

LG Corp innovates to suit distinct local environment

Split air conditioners lead unit sales of small appliances

Personal care trends are led by the pursuit of natural hair

Implementation of energy efficiency standards is underway

Haier makes inroads through affordable, high quality products

Distribution trends: Online shopping gains gradual acceptance

Thrill of the deal: Black Friday offers proliferate both online and offline

Why buy this report?

Want to find out more about this report?

Recently Viewed

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