Electronics and appliance specialist retailers posted strong growth over much of the review period but a drop in money in circulation and the slow growth of the economy since 2016 have affected the channel’s performance. Most consumers in the lower-income bracket who previously purchased new electronics and appliances resorted to second-hand products in some cases.
Innovation in the electronics and appliances industry has always attracted Nigeria’s young adult population, particularly when it comes to mobile phones. Other household electronics and appliances are also continuing to enjoy strong demand among the country’s large population of tech-savvy young graduates who have found paid employment.
2018 witnessed a great deal of promotional activity in the electronics and appliance specialist channel, particularly from mobile phone companies such as Tecno and Nokia, which organised road shows to highlight both their existing and new products. LG, Haier Thermocool and Hisense also invested in various promotional activities for products such as televisions, refrigerators and air conditioners, with these serving to drive footfall in electronics and appliance stores.
In 2018, electronics and appliance specialist retailing remained a highly fragmented channel due to the presence of many small independent specialists. However, Slot Systems remained the leading player, with its popularity due to its offer of a variety of different mobile phones as well as service centres within its outlets.
Cash & Carry remained another well-known retailer of electronics and appliances in 2018, offering a wide range of different brands at affordable prices with warranties. Many consumers view Cash & Carry as one of the best places to buy reliable electronics and appliance brands.
In 2018, other retail channels such as supermarkets, hypermarkets and internet retailing struggled to gain share from electronics and appliance specialists. While these other channels have increased the selling space allocated to electronics and appliances, most consumers still prefer to visit specialists as they appreciate being able to obtain advice and get good deals.
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This industry report originates from Passport, our Retailing market research database.