COVID-19 has hit sales of menswear hard in 2020, with current value sales falling sharply after double-digit growth in 2019. The virus has had a number of direct and indirect effects on sales, including the closure of various workplaces at the beginning of the year and strict limits on social gatherings that reduced the need for consumers to buy appropriate clothes.
Formal wear such as men’s shirts, men’s suits, and men’s shorts and trousers have been hit especially hard by the pandemic. These clothes are frequently bought for work, and rising unemployment, as well as the two-month lockdown in major cities in March which meant many workers were forced to work from home, has depressed demand.
Although the economic impact of the virus has driven a broad trend for consumers to trade down to second hand clothes, the increasing availability of poor-quality menswear imported from China has helped to limit this transition. These imports remain affordable, although they typically have a short lifespan.
Menswear consumers have already largely returned to the physical workplace in 2020 since restrictions on movement were lifted. The most important factor determining recovery over the forecast period will therefore be the expected economic recovery, rather than drastically altered consumer habits.
Nigeria’s demographics offer substantial opportunity for menswear over the forecast period. The population is young and increasingly urbanised, with Nigerian men typically having a high level of interest in their appearance.
As the Nigerian economy recovers and employment levels return to normal, more formal products and in particular men’s shirts are expected to enjoy strong growth over the forecast period. This is largely a result of a burgeoning middle class supported by urbanisation trends.
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Understand the latest market trends and future growth opportunities for the Menswear 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 Menswear 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 Menswear research and analysis database.
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