Vacuum Cleaners in Nigeria

2020 IMPACT

Most consumers view vacuum cleaners as a luxury product limiting sales in 2020

In 2020, vacuum cleaners suffered from low consumer confidence as a result of the COVID-19 pandemic. Most consumers view vacuum cleaners as a product restricted for affluent consumers with large houses, and therefore limited sales were seen in 2020 as consumers suffered from lowered disposable incomes.

Relatively low penetration rate of vacuum cleaners in Nigeria prevents the category from significantly benefitting from home seclusion

In Nigeria, vacuum cleaners still hold very low penetration since such products were only introduced in 2015. Since vacuum cleaners are relatively new in the country, no significant benefit is expected from greater home seclusion and rising consumer interest in home hygiene in 2020.

Rising prices hurt performance in 2020

The rising average unit price of vacuum cleaners in 2020 prevents even more consumers from making purchases in 2020. In Nigeria, the devaluation of the local currency and import disruptions led to strong price increases.

RECOVERY AND OPPORTUNITIES

Recovery anticipated to begin post 2021

Since the Nigerian economy is expected to remain lethargic in 2021, retail volume sales of vacuum cleaners are set to experience a decline again, although it will likely be slower than that seen in 2020. As the economy stabilises over the remainder of the forecast period, vacuum cleaners will return to strong retail volume growth.

Significant opportunities for growth in the forecast period since vacuum cleaners is a relatively new consumer appliance

Since vacuum cleaners still hold very low penetration in Nigeria, the scope for growth is strong among the increasing middle-income population. Traditionally, low awareness has limited sales, but a growing range of available products in stores as well as exposure through social media will help to grow awareness in the forecast period.

Cylinder vacuum cleaners set to remain the most popular

Cylinder vacuum cleaners will continue to outperform stick vacuum cleaners in the forecast period. The popularity of this format is due to the fact that cylinder vacuum cleaners are typically cheaper than stick vacuum cleaners, as well as more convenient.