Hosiery saw a partial recovery in current value terms in 2021, but it still posted a small decline in retail volume terms as sales continued to suffer from the poor economic conditions in the country. Key to the category’s improvement has been normalisation of economic activities following the easing of restrictions on movement to work which had impeded sales in 2020.
Sheer hosiery registered the weakest performance in 2021, recording a decline in both volume and value terms as the category is quite niche and is considered non-essential by many consumers in Nigeria. In contrast, non-sheer hosiery witnessed a return to growth in value and volume terms.
The competitive landscape within hosiery remained fragmented during 2021, with formal sales suffering from competition from the high influx of unregulated products that are sold through informal channels such as in traffic queues and in open markets. The challenging conditions for brand retailers such as Pep and Mr Price also contributed to the growing fragmentation within the competitive landscape as consumers looked for the cheapest options available, with little consideration for the brand.
Sales of hosiery suffered as a result of the economic impact of COVID-19 and any upturn in fortunes will likely be closely linked to an economic recovery. The key consumers of the category are professional workers who wear formal footwear to the office.
Non-sheer hosiery will likely continue to drive overall growth in hosiery over the forecast period due to the generally low interest in sheer hosiery among Nigerian consumers. The wearing of stockings and tights is not customary among Nigerian women and this is not expected to change significantly over the forecast period.
Due to the small size of hosiery items, it is easy for smuggled and unregulated products to penetrate the market. Such products are sold through a variety of informal channels such as in street traffic and at roadside stalls.
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Understand the latest market trends and future growth opportunities for the Hosiery industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of Sheer hosiery and Non-sheer hosiery.See All of Our Definitions
This report originates from Passport, our Hosiery research and analysis database.
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