The retail current value sales of home and garden specialist retailers in Nigeria rebounded strongly in 2021. During the year, many Nigerians continued to work from home and travel remained restricted.
Two players, Vitafoam Nigeria Plc and Mouka Ltd, continued to account for well over half of retail value sales of home and garden specialist retailers in Nigeria during 2021. Despite a surge in inflationary pressure during the year, leader Vitafoam Nigeria Plc – which manufactures its own mattresses locally – made a decision to freeze its prices, which helped to support its retail volume sales.
The inflation that followed the COVID-19 pandemic has worked in the favour of companies such as Lifemate which source materials and products locally. Meanwhile, local manufacturer Vitafoam continued to expand its distribution network in 2021 through third party services.
The retail current values of home and garden specialist retailers will remain robust during the forecast period as a whole. Increasing volume demand will be the main driver of this, as the population of Nigeria is expanding rapidly.
The Nigerian government is seeking to make home ownership more affordable to Nigerians, which would provide a boost to the retail current value sales of home and garden specialist retailers. According to local estimates, between one quarter and one third of Nigerians currently live in owner-occupied housing.
Vitafoam Nigeria Plc and Mouka Ltd are likely to remain the dominant players among home and garden specialist retailers during the forecast period. Both have extensive store networks and enjoy strong brand recognition.
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Understand the latest market trends and future growth opportunities for the Home and Garden Specialist Retailers 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 Home and Garden Specialist Retailers 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 is the aggregation of homewares and home furnishing stores and home improvement and gardening stores. Business-to-business sales are excluded.See All of Our Definitions
This report originates from Passport, our Home and Garden Specialist Retailers research and analysis database.
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