Value sales of footwear in current terms are set to drop in 2020 for the first time over the review period. This is wholly a result of the pandemic, and above all the impact of COVID-19 on Nigeria’s struggling economy.
COVID-19 has also hit sales as a result of restrictions on movement and the government’s attempt to manage the pandemic. At the start of the year, a period of lockdown forced many workers to work from home where possible, reducing demand for footwear for work.
With more consumers working from home or unable to into the workplace, strong underlying casualisation trends have accelerated in 2020, and as a result sales of sports footwear declined at a slower rate than formal footwear. Nigeria’s young consumer base (the majority of the country’s population is under the age of 35) is also a factor in this, with these consumers increasingly unlikely to choose formal footwear.
Sales of footwear are set to return to growth strongly in 2021, although in real terms sales will not return to pre-pandemic levels until at least 2024. The reopening of the economy from 2021 will be the main driver of sales, as there is already strong underlying demand for footwear in Nigeria.
Children’s footwear is set to perform strongly over the forecast period, underpinned by a growing child population, and in particular of children in urban areas who go to school. While it remains common for children to only wear shoes on special occasions, rising urbanisation and the number of children in formal school settings is driving demand for children’s footwear; since children quickly outgrow shoes, demand for formal school shoes remains constant.
The ongoing growth in outlet numbers of modern apparel retail chains will also help to shift demand away from informal and cottage industry channels, particularly as good quality, affordable products become more widely available. The return to Nigeria of Bata shoes in 2019 (with local production and retail outlets), will also help to boost competition over the forecast period, whilst retailers will increase emphasis on e-commerce to tap into growing usage of the channel among mid-income consumers.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Footwear industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Footwear industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Footwear research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page