Nigeria Retail Report - Business Monitor International - Industry Reports

Nigeria Retail Report

Nigeria Retail Report - Business Monitor International - Industry Reports
Nigeria Retail Report
Published Aug 27, 2016
67 pages — Published Aug 27, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

BMI View: Nigeria will endure an economic contraction in ----, driven by external and domestic challenges, exacerbated by a series of controversial monetary and fiscal policy developments. We believe that the economy bottomed out in the second quarter of the year and, therefore, forecast a -.- real GDP contraction in ---- as a result. Furthermore, inflation has risen sharply over the past several months, and averaged --.- over the first six months of ----, rising from -.- in January to --.- in June. While this may impact negatively on household spending, overall consumer spending patterns are unlikely to change significantly, meaning that any increases in non-essentials spending will be driven primarily by the highest- earning Nigerian households. While this may impact negatively on household spending, overall consumer spending patterns are unlikely to change significantly, meaning that any increases in non-essentials spending will be driven primarily by the highest- earning Nigerian households.

...We hold to our view that the Nigerian naira will strengthen before the end of ----, as macroeconomic conditions will encourage a return in investment, and therefore expect investment in the retail sector to remain buoyant. Almost -.-mn households will be in the USD--,----plus income bracket by the end of ----, representing -.- of the total. ...Almost -.-mn households will be in the USD--,----plus income bracket by the end of ----, representing -.- of the total. Mstore owner, Dubai-based MidCom Group, announced in August ---- that it would be investing a further USD--mn in expanding its mobile phone and electronic goods outlets across Africa over the next three years, including building its presence in Nigeria. US-based hair beauty retailer Her Imports reported in July ---- that sales from its new store in Lagos were four times higher than projected, following its first month of trading. ...Mstore owner, Dubai-based MidCom Group, announced in August ---- that it would be investing a further USD--mn in expanding its mobile phone and electronic goods outlets across Africa over the next three years, including building its presence in Nigeria. US-based hair beauty retailer Her Imports reported in July ---- that sales from its new store in Lagos were four times higher than projected, following its first month of trading.

...BMI View: Essentials spending will continue to dominate household spending, accounting for three quarters of total spending, and this will remain the case for the foreseeable future. Growth in non-essentials spending will remain modest throughout the forecast period and will be driven by Nigeria s emerging middle-class. ...BMI View: Essentials spending will continue to dominate household spending, accounting for three quarters of total spending, and this will remain the case for the foreseeable future. Growth in non-essentials spending will remain modest throughout the forecast period and will be driven by Nigeria s emerging middle-class. Significant international entrants are helping to push forward Nigeria s modernizing retail sector and stronger gains in non-essentials retail sales are expected in the long term, driven by a stable economic environment and growing young urban population. ...

  
Source:
Document ID
2058-6418
Country
Industry
Format:
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Nigeria Retail Report" Aug 27, 2016. Alacra Store. Dec 08, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Nigeria-Retail-Report-2026-1751>
  
APA:
Business Monitor International - Industry Reports. (2016). Nigeria Retail Report Aug 27, 2016. New York, NY: Alacra Store. Retrieved Dec 08, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Nigeria-Retail-Report-2026-1751>
  
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