Megatrends in Nigeria

October 2023

This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s 10 focus megatrends and insights as to how each trend has manifested in Nigeria.

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This report comes in PPT.

Overview:

Consumer Lifestyle reports provide detailed snapshorts of the behaviours, attitudes and spending patterns of consumers in 40 countries. 

The Lifestyles reports offer valuable statistics and insights into key consumer traits and values, linking behaviour trends with purchase and consumption habits. Using lifestyles survey data, these reports quantify behaviours, preferences and motivations both now and in the future across specific consumer-related topics relating to how consumers live, shop, work and play in 40 markets. Analysis is also included on how Euromonitor’s 8 focus megatrends, the longer-term shifts in consumer attitudes and behaviour, are playing out in each of the 40 countries. Consumer lifestyles are constantly shifting. Understanding behavioural shifts is vital for businesses to stay competitive and adapt to in order to capitalise on new opportunities.

The Consumer Lifestyle in Nigeria report includes:

Lifestyles survey data and analysis on consumer values, behaviour and future expectations on topics such as life priorities, home and work life, ethical and health priorities and eating, leisure and shopping habits and use of technology. Consumer Megatrends covered are: Connected Consumers Ethical Living Experience More Healthy Living Middle Class Retreat Premiumisation Shifting Market Frontiers Shopping Reinvented

The Consumer Lifestyle in Nigeria report answers:

  • How is the consumer mindset in Nigeria changing? In Nigeria, what are consumer attitudes towards “green” and sustainable products?
  • What values influence consumers in Nigeria purchase decisions?
  • Where and how do consumers shop in Nigeria?
  • What health-related activities do consumers in Nigeria participate in?
  • What megatrends should I focus on in Nigeria (and why)?
  • How do I prioritize my investment? I operate in country x, which are the most important megatrends in that country?
  • My product chimes with the Healthy Living trend, what consumer behaviours do I need to consider for innovation planning?
Scope
The drivers shaping consumer behaviour
Megatrends framework
Businesses harness megatrends to renovate, innovate and disrupt
Convenience
FoodCourt’s virtual restaurants offer “limitless convenience on-demand”
Tech is being used to simplify everyday tasks
Consumers want a better work-life balance
Nigerians like to make on-the-spot purchases
Digital living
Revolutionary new ride-sharing app Gab Taxi helps to ensure fairer wages for drivers
Video gaming is a favourite pastime among young Nigerians
Most consumers are protective of their personal data
Generation Z want to preserve their online anonymity
Friends and family remain the most trusted information source
Consumers expect more real-life activity post-pandemic
Diversity and inclusion
Educatial aims to create a level playing field in the education sector
Consumers want to change things for the better
Most Nigerians feel comfortable expressing their identity
Experience more
Accelerate TV provides Nigerians with affordable option for home entertainment
Nigerians enjoy socialising both on- and offline
Consumers still more likely to enjoy real world than online experiences
Personalisation
Spotify rolls out its “personalised AI DJ” feature in Nigeria
Millennials are the most enthusiastic about virtual activities
Nigerians enjoy tailored experiences
Premiumisation
International Breweries launches Flying Fish, a premium flavoured lager
Most Nigerians desire a simpler lifestyle
Millennials are the most confident in their long-term investments
Health, quality and comfort are prized attributes
Pursuit of value
Nigeria’s leading discounter, Jara, opens its sixth store
Consumers are finding ways to cut costs
Shoppers are worried about the rising cost of living
Nigerians are embracing the circular economy
Consumers seek ways to make their money go further
Shopper reinvented
Shoprite partners with Glovo to provide grocery deliveries within the hour
Nigerians enjoy the shopping experience
S-commerce gains traction as part of the omnichannel experience
Millennials interact most with brands online
Sustainable living
Scrapays’ “trash for cash” waste recycling ecosystem continues to grow
Nigerians take a keen interest in the community
Millennials are the most eager to support local stores
Wellness
NigComHealth allows Nigerians to access professional healthcare services remotely
Nigerians take a keen interest in healthy eating
Leverage the power of megatrends to shape your strategy today
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