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Retail in Nigeria

March 2023
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Overview:

Understand the latest market trends and future growth opportunities for the Retailing 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.

Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:

  • Convenience Stores
  • Discounters
  • Hypermarkets
  • Supermarkets
  • Traditional Grocery Retailers
  • Apparel and Footwear Specialist Retailers
  • Electronics and Appliance Specialist Retailers
  • Health and Beauty Specialist Retailers
  • Home and Garden Specialist Retailers
  • Department Stores
  • Variety Stores
  • Warehouse Clubs
  • Direct Selling
  • Homeshopping
  • Vending

If you're in the Retailing 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.

The Retailing in Nigeria report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volume and value sizes, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent research methodology, conducted in-country

This report answers:

  • What is the market size of Retailing in Nigeria?
  • Which are the leading retailers in Retailing in Nigeria?
  • How are products distributed in Retailing in Nigeria?
  • How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
  • How significant are discounters and private label in Nigeria?
  • How has the impact of COVID-19 and national lockdown impacted consumer demand?
  • Which formats have benefited the most from stockpiling and enforced home seclusion?
  • How will the wider economic impact of COVID-19 shape the retail landscape in the future?
  • Where is future growth expected to be most dynamic?
Download Table of Contents

Retail in Nigeria

Retail in 2022: The big picture
Shoppers shop locally in 2022
E-commerce, along with social commerce, gains further value share
What next for retail?
Informal retail
Opening hours for physical retail
Summary 1 Standard Opening Hours by Channel Type 2022
Seasonality
Christmas
Back to School
Table 1 Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2017-2022
Table 2 Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2017-2022
Table 3 Sales in Retail Offline by Channel: Value 2017-2022
Table 4 Sales in Retail Offline by Channel: % Value Growth 2017-2022
Table 5 Retail Offline Outlets by Channel: Units 2017-2022
Table 6 Retail Offline Outlets by Channel: % Unit Growth 2017-2022
Table 7 Sales in Retail E-Commerce by Product: Value 2017-2022
Table 8 Sales in Retail E-Commerce by Product: % Value Growth 2017-2022
Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2017-2022
Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 11 Sales in Grocery Retailers by Channel: Value 2017-2022
Table 12 Sales in Grocery Retailers by Channel: % Value Growth 2017-2022
Table 13 Grocery Retailers Outlets by Channel: Units 2017-2022
Table 14 Grocery Retailers Outlets by Channel: % Unit Growth 2017-2022
Table 15 Non-Grocery Retailers: Value Sales, Outlets and Selling Space 2017-2022
Table 16 Non-Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 17 Sales in Non-Grocery Retailers by Channel: Value 2017-2022
Table 18 Sales in Non-Grocery Retailers by Channel: % Value Growth 2017-2022
Table 19 Non-Grocery Retailers Outlets by Channel: Units 2017-2022
Table 20 Non-Grocery Retailers Outlets by Channel: % Unit Growth 2017-2022
Table 21 Retail GBO Company Shares: % Value 2018-2022
Table 22 Retail GBN Brand Shares: % Value 2019-2022
Table 23 Retail Offline GBO Company Shares: % Value 2018-2022
Table 24 Retail Offline GBN Brand Shares: % Value 2019-2022
Table 25 Retail Offline LBN Brand Shares: Outlets 2019-2022
Table 26 Retail E-Commerce GBO Company Shares: % Value 2018-2022
Table 27 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
Table 28 Grocery Retailers GBO Company Shares: % Value 2018-2022
Table 29 Grocery Retailers GBN Brand Shares: % Value 2019-2022
Table 30 Grocery Retailers LBN Brand Shares: Outlets 2019-2022
Table 31 Non-Grocery Retailers GBO Company Shares: % Value 2018-2022
Table 32 Non-Grocery Retailers GBN Brand Shares: % Value 2019-2022
Table 33 Non-Grocery Retailers LBN Brand Shares: Outlets 2019-2022
Table 34 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2022-2027
Table 35 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2022-2027
Table 36 Forecast Sales in Retail Offline by Channel: Value 2022-2027
Table 37 Forecast Sales in Retail Offline by Channel: % Value Growth 2022-2027
Table 38 Forecast Retail Offline Outlets by Channel: Units 2022-2027
Table 39 Forecast Retail Offline Outlets by Channel: % Unit Growth 2022-2027
Table 40 Forecast Sales in Retail E-Commerce by Product: Value 2022-2027
Table 41 Forecast Sales in Retail E-Commerce by Product: % Value Growth 2022-2027
Table 42 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 43 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 44 Forecast Sales in Grocery Retailers by Channel: Value 2022-2027
Table 45 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2022-2027
Table 46 Forecast Grocery Retailers Outlets by Channel: Units 2022-2027
Table 47 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2022-2027
Table 48 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 49 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 50 Forecast Sales in Non-Grocery Retailers by Channel: Value 2022-2027
Table 51 Forecast Sales in Non-Grocery Retailers by Channel: % Value Growth 2022-2027
Table 52 Forecast Non-Grocery Retailers Outlets by Channel: Units 2022-2027
Table 53 Forecast Non-Grocery Retailers Outlets by Channel: % Unit Growth 2022-2027

DISCLAIMER

Summary 2 Research Sources

Convenience Retailers in Nigeria

KEY DATA FINDINGS

Strong performance for convenience stores
Forecourt retail continues to perform weakly
Convenience stores drives overall growth, despite exit of Best Choice
Muted constant value growth, as inflation continues to bite
Competition expected to increase over the forecast period
Omnichannel approach needed to remain competitive
Table 54 Convenience retailers: Value Sales, Outlets and Selling Space 2017-2022
Table 55 Convenience retailers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 56 Sales in Convenience Retailers by Channel: Value 2017-2022
Table 57 Sales in Convenience Retailers by Channel: % Value Growth 2017-2022
Table 58 Convenience retailers GBO Company Shares: % Value 2018-2022
Table 59 Convenience retailers GBN Brand Shares: % Value 2019-2022
Table 60 Convenience retailers LBN Brand Shares: Outlets 2019-2022
Table 61 Convenience retailers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 62 Convenience retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 63 Forecast Sales in Convenience Retailers by Channel: Value 2022-2027
Table 64 Forecast Sales in Convenience Retailers by Channel: % Value Growth 2022-2027

Supermarkets in Nigeria

KEY DATA FINDINGS

Supermarkets perform well in 2022, despite poor economic conditions
Growing competition as leading retailers increase the number of outlets
Supermarkets begin to embrace digitalisation
Economic recovery will boost growth
Focus on improving the customer experience
Small investors will also help to drive strong growth in store numbers
Table 65 Supermarkets: Value Sales, Outlets and Selling Space 2017-2022
Table 66 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 67 Supermarkets GBO Company Shares: % Value 2018-2022
Table 68 Supermarkets GBN Brand Shares: % Value 2019-2022
Table 69 Supermarkets LBN Brand Shares: Outlets 2019-2022
Table 70 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 71 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

Hypermarkets in Nigeria

KEY DATA FINDINGS

Hypermarkets sees slow growth in 2022 due to poor economy
Major blow, as Massmart announces exit plans
New owners of Shoprite look to stabilise operations
Economic recovery needed to boost growth
Growing urban population supports demand
Shoprite could see further expansion over forecast period
Table 72 Hypermarkets: Value Sales, Outlets and Selling Space 2017-2022
Table 73 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 74 Hypermarkets GBO Company Shares: % Value 2018-2022
Table 75 Hypermarkets GBN Brand Shares: % Value 2019-2022
Table 76 Hypermarkets LBN Brand Shares: Outlets 2019-2022
Table 77 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 78 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

Discounters in Nigeria

KEY DATA FINDINGS

Fall in spending power limits growth potential
Further casualty, as Shoprite exits
Jara performs well and benefits from exit of Shoprite
Muted constant value growth, as inflation continues to bite
Increase in costs of imports makes discounters less competitive on price
Growing urban population in suburban areas can drive expansion
Table 79 Discounters: Value Sales, Outlets and Selling Space 2017-2022
Table 80 Discounters: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 81 Discounters GBO Company Shares: % Value 2018-2022
Table 82 Discounters GBN Brand Shares: % Value 2019-2022
Table 83 Discounters LBN Brand Shares: Outlets 2019-2022
Table 84 Discounters Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 85 Discounters Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

Small Local Grocers in Nigeria

KEY DATA FINDINGS

Small local grocers best performing grocery retailer in 2022
Consumers continue to shop locally post lockdowns
Technology supporting growth of small local grocers
As economy improves, consumers return to modern grocery retailing
Growth in the urban population boost sales
Digitalisation improves distribution and lowers costs
Table 86 Small Local Grocers: Value Sales, Outlets and Selling Space 2017-2022
Table 87 Small Local Grocers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 88 Small Local Grocers LBN Brand Shares: Outlets 2019-2022
Table 89 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 90 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

General Merchandise Stores in Nigeria

KEY DATA FINDINGS

Fall in constant value sales, as inflation bites
Variety stores grow strongly, driven by Konga and Miniso expansion
Muted performance for department stores
If inflation can be brought under control, sales will benefit
New store openings will drive growth in department stores
Variety stores register further growth
Table 91 General Merchandise Stores: Value Sales, Outlets and Selling Space 2017-2022
Table 92 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 93 Sales in General Merchandise Stores by Channel: Value 2017-2022
Table 94 Sales in General Merchandise Stores by Channel: % Value Growth 2017-2022
Table 95 General Merchandise Stores GBO Company Shares: % Value 2018-2022
Table 96 General Merchandise Stores GBN Brand Shares: % Value 2019-2022
Table 97 General Merchandise Stores LBN Brand Shares: Outlets 2019-2022
Table 98 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 99 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 100 Forecast Sales in General Merchandise Stores by Channel: Value 2022-2027
Table 101 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2022-2027

Apparel and Footwear Specialists in Nigeria

KEY DATA FINDINGS

Fall in constant value sales, as inflation bites
More upmarket apparel operators fare best
Apparel operators increasing using the digital space to improve the customer experience
Once inflation stabilises, sector will recover
More premium operators will register higher growth
A renewed appreciation of traditional clothing will benefit local apparel and footwear specialist retailers
Table 102 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 103 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 104 Apparel and Footwear Specialists GBO Company Shares: % Value 2018-2022
Table 105 Apparel and Footwear Specialists GBN Brand Shares: % Value 2019-2022
Table 106 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2019-2022
Table 107 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 108 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

Appliances and Electronics Specialists in Nigeria

KEY DATA FINDINGS

Fall in constant value sales, as inflation bites
Major chains struggle as consumers shift to lower priced brands
Appliance and electronic specialists compete effectively with other channels
Moderate constant value growth over forecast period
Local consumer interest in gadgets will continue to grow, but most will buy them from informal retailers or second hand
E-commerce will expand but will largely remain limited to lower-value items
Table 109 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 110 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 111 Appliances and Electronics Specialists GBO Company Shares: % Value 2018-2022
Table 112 Appliances and Electronics Specialists GBN Brand Shares: % Value 2019-2022
Table 113 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2019-2022
Table 114 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 115 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

Home Products Specialists in Nigeria

KEY DATA FINDINGS

Fall in constant value sales, as inflation bites
Homewares and home furnishings fare best
Vitafoam continues to lead due to strong brand loyalty and distribution strength
Stabilising inflation and rents likely to benefit growth
Government faces an uphill battle to boost home ownership
Hypermarkets represent a competitive threat to home product specialists
Table 116 Home Products Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 117 Home Products Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 118 Sales in Home Products Specialists by Channel: Value 2017-2022
Table 119 Sales in Home Products Specialists by Channel: % Value Growth 2017-2022
Table 120 Home Products Specialists GBO Company Shares: % Value 2018-2022
Table 121 Home Products Specialists GBN Brand Shares: % Value 2019-2022
Table 122 Home Products Specialists LBN Brand Shares: Outlets 2019-2022
Table 123 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 124 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 125 Forecast Sales in Home Products Specialists by Channel: Value 2022-2027
Table 126 Forecast Sales in Home Products Specialists by Channel: % Value Growth 2022-2027

Health and Beauty Specialists in Nigeria

KEY DATA FINDINGS

Pharmacies fare better than beauty specialists
More premium beauty specialists fare better
E-commerce and social commerce continue to complement in-store sales
Stabilising inflation likely to help growth recover
Growing awareness of health issues supports growth of pharmacies
Diversified offerings will support demand for cosmetics
Table 127 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 128 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 129 Sales in Health and Beauty Specialists by Channel: Value 2017-2022
Table 130 Sales in Health and Beauty Specialists by Channel: % Value Growth 2017-2022
Table 131 Health and Beauty Specialists GBO Company Shares: % Value 2018-2022
Table 132 Health and Beauty Specialists GBN Brand Shares: % Value 2019-2022
Table 133 Health and Beauty Specialists LBN Brand Shares: Outlets 2019-2022
Table 134 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 135 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 136 Forecast Sales in Health and Beauty Specialists by Channel: Value 2022-2027
Table 137 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2022-2027

Vending in Nigeria

Direct Selling in Nigeria

KEY DATA FINDINGS

Fall in constant value sales, as inflation bites
Direct selling increasingly entering the online space
Forever Living closing in on Oriflame
Opening up of society and inflation stabilising will boost sales
Reputation of direct selling hampered by illegal operators
E-commerce and social commerce to support growth of direct selling
Table 138 Direct Selling by Product: Value 2017-2022
Table 139 Direct Selling by Product: % Value Growth 2017-2022
Table 140 Direct Selling GBO Company Shares: % Value 2018-2022
Table 141 Direct Selling GBN Brand Shares: % Value 2019-2022
Table 142 Direct Selling Forecasts by Product: Value 2022-2027
Table 143 Direct Selling Forecasts by Product: % Value Growth 2022-2027

Retail E-Commerce in Nigeria

KEY DATA FINDINGS

Retail e-commerce continues to register high growth
Social commerce complements and competes against e-commerce
Growing competition further boosts retail e-commerce
Consumer familiarity to drive growth as more Nigerians gain access to internet enabled
Fastest growing retail channel over forecast period
Arrival of Amazon changes the competitive landscape
Table 144 Retail E-Commerce by Channel: Value 2017-2022
Table 145 Retail E-Commerce by Channel: % Value Growth 2017-2022
Table 146 Retail E-Commerce by Product: Value 2017-2022
Table 147 Retail E-Commerce by Product: % Value Growth 2017-2022
Table 148 Retail E-Commerce GBO Company Shares: % Value 2018-2022
Table 149 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
Table 150 Forecast Retail E-Commerce by Channel: Value 2022-2027
Table 151 Forecast Retail E-Commerce by Channel: % Value Growth 2022-2027
Table 152 Forecast Retail E-Commerce by Product: Value 2022-2027
Table 153 Forecast Retail E-Commerce by Product: % Value Growth 2022-2027
The following categories and subcategories are included:

Retailing

      • Fashion Vending
      • Health and Beauty Vending
      • Appliances and Electronics Vending
        • Alcoholic Drinks Vending
        • Hot Drinks Vending
        • Soft Drinks Vending
        • Tobacco Products Vending
      • Foods Vending
      • Home Products Vending
      • Other Products Vending
        • Apparel and Footwear Direct Selling
        • Personal Accessories Direct Selling
        • Eyewear Direct Selling
        • Beauty and Personal Care Direct Selling
        • Consumer Health Direct Selling
        • Tissue and Hygiene Direct Selling
        • Consumer Appliances Direct Selling
        • Consumer Electronics Direct Selling
        • Toys and Games Direct Selling
      • Drinks and Tobacco Direct Selling
      • Foods Direct Selling
        • Home Care Direct Selling
        • Home and Garden Direct Selling
        • Pet Care Direct Selling
      • Other Products Direct Selling
        • Apparel and Footwear E-Commerce
        • Personal Accessories E-Commerce
        • Eyewear E-Commerce
        • Beauty and Personal Care E-Commerce
        • Consumer Health E-Commerce
        • Tissue and Hygiene E-Commerce
        • Consumer Appliances E-Commerce
        • Consumer Electronics E-Commerce
        • Toys and Games E-Commerce
      • Drinks and Tobacco E-Commerce
      • Foods E-Commerce
        • Home Care E-Commerce
        • Home and Garden E-Commerce
        • Pet Care E-Commerce
      • Other Products E-Commerce
        • First-Party (1P) Marketplace E-Commerce
        • Third-Party (3P) Marketplace E-Commerce
      • Grocery E-Commerce
      • General Merchandiser E-Commerce
      • Apparel and Footwear Specialist E-Commerce
      • Appliances and Electronics Specialist E-Commerce
      • Home Products Specialist E-Commerce
      • Health and Beauty Specialist E-Commerce
      • Leisure and Personal Goods Specialist E-Commerce
      • Other E-Commerce Retailers

Retailing

Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, and wholesale sales (e.g. Cash and Carry). Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.

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