Megatrends in Nigeria

October 2021

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 eight focus megatrends, and insights as to how each trend has manifested in Nigeria.

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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?
The drivers shaping consumer behaviour
Megatrends framework
Businesses harness megatrends to renovate, innovate and disrupt
Digital living
Facebook’s Sabee app aims to make online learning accessible to all
Consumers are becoming more reliant on apps
Younger generations are keen gamers
Most Nigerians happy to share data in order to get personalised offers
Baby Boomers are most likely to freely share their personal data
Friends and family remain the most trusted source of information
Return to face-to-face activities expected post-pandemic
Experience more
uduX music streaming app now available to MTN users
Nigerians embrace all types of experience
Millennials are the most willing to spend on experiences
Online socialising is more common than face-to-face amid pandemic
Gen Z not as keen to resume face-to-face activities as other generations
Middle class reset
Digital banking app Kuda offers consumers short-term loans
More than half say they would rather by fewer, but higher quality things
Millennials are most likely to be bargain-hunters
Half of consumers regularly donate items to charity
Gen Z are most keen to increase purchases of used items
Premiumisation
Grand Oak appeals to urbanites with premium chocolate-flavoured gin
Most Nigerians yearn for a simpler life
Baby Boomers are the most individualistic cohort
All age groups are confident about their investments, especially Boomers
Novelty or quality trump value for money across all categories
Shifting market frontiers
Arla builds new dairy farm to help support Nigerian dairy sector
Nigerians have a keen interest in foreign cultures and products
Almost two thirds of Millennials expect to work abroad in the future
Gen X are the most focused on supporting local business
Shopping reinvented
Konga boosts social commerce with monthly live auctions
Shoppers are eager to engage with brands via social media
Baby Boomers are most likely to follow companies’ media feeds
Sustainable living
Portable handwashing station aims to improve hospital hygiene
Nigerians are keen to play a part in protecting the environment
Wellness
Health Plus launches Nigeria’s first e-pharmacy
Consumers take a greater interest in nutrition amid the pandemic
Millennials are the most likely to undertake regular exercise
Baby Boomers are the most tech-focused cohort in relation to health
Consumers are highly cautious about health and safety
Leverage the power of Megatrends to shape your strategy today
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