The biggest single impact on sales of jeans in Nigeria will be the sharp economic contraction caused by the effects of COVID-19. Nigeria is set to re-enter recession, after having struggled to recover from the crash in oil prices in 2015, and as a result unemployment is rising and levels of disposable income are falling.
In the current economic environment, economy jeans have unsurprisingly been the best performing group of products, and are the only category to generate positive growth in current value terms in 2020. However, sales of other categories have benefited less directly from the pandemic.
Consumers trading down to economy brands in the pandemic has been a key driver of economy jeans, but other factors are driving sales growth in 2020. There has been a proliferation of economy-positioned chained retailers, including Mr Price, Max, Pep, and Redtag, whose credible offer and easy access is driving drive demand for economy jeans amongst increasingly price sensitive consumers.
Over the forecast period, each segment within jeans is expected to deliver high double-digit growth in current value terms. The anticipated economic recovery will be the main driver of this, but importantly there is strong underlying demand for jeans across the urban consumer base.
There is significant potential in developing a more differentiated offer within jeans in Nigeria in terms of styling. As incomes rise, driving greater spending on higher quality products, designers that allow consumers to stand out should generate significant interest.
Sales of jeans saw a marked uptick in share generated by e-commerce in 2020, a trend that is likely to accelerate over the forecast period as Nigeria’s online retail infrastructure continues to evolve. Currently, the most important e-commerce channels are third party sellers that are typically used by independent retailers.
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 Jeans 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 Jeans 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 Jeans 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