Supermarkets will outperform other modern grocery retailers over the forecast period. Once inflation comes under control, supermarkets will register higher growth than outlets such as hypermarkets, as they are considered more convenient than hypermarkets, as they are generally located nearer to residential areas.
As well as opening new outlets, most supermarket operators are expected to focus on improving their offerings in their existing stores, such as improving store layouts and using technology to improve the shopping experience. In addition, some players such as HubMart and FoodCo have introduced foodservice spaces within their outlets and this will be a growing trend over the forecast period.
Small chains with no more than a handful of stores are also likely to be part of the growth in store numbers over the forecast period. Many affluent individuals in Nigeria perceive supermarkets as an attractive investment opportunity, as the number of modern retail outlets per head of population remains very low.
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Understand the latest market trends and future growth opportunities for the Supermarkets 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 Supermarkets 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.
Supermarkets are chained or independent retail outlets with a selling space of between 400 and 2,500 square metres and with a primary focus on selling food/beverages/tobacco and other groceries. Supermarkets may also sell a selection of non-groceries, but the product mix is skewed towards grocery items. Example brands include Casino, Kroger, and Tesco. Exception: In some markets, primarily the US, Australia and Hong Kong, there are grocery retailer brands that operate outlets with a selling space of over 2,500 square metres, but offer only a very limited range of non-grocery merchandise or none at all. These brands are included in Supermarkets.See All of Our Definitions
This report originates from Passport, our Supermarkets research and analysis database.
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