Megatrends in Nigeria

October 2022

This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s eight focus megatrends and insights as to how each trend has manifested in Nigeria.

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This report comes in PPT.

Overview:

Consumer Lifestyle reports provide detailed snapshorts of the behaviours, attitudes and spending patterns of consumers in 40 countries. 

The Lifestyles reports offer valuable statistics and insights into key consumer traits and values, linking behaviour trends with purchase and consumption habits. Using lifestyles survey data, these reports quantify behaviours, preferences and motivations both now and in the future across specific consumer-related topics relating to how consumers live, shop, work and play in 40 markets. Analysis is also included on how Euromonitor’s 8 focus megatrends, the longer-term shifts in consumer attitudes and behaviour, are playing out in each of the 40 countries. Consumer lifestyles are constantly shifting. Understanding behavioural shifts is vital for businesses to stay competitive and adapt to in order to capitalise on new opportunities.

The Consumer Lifestyle in Nigeria report includes:

Lifestyles survey data and analysis on consumer values, behaviour and future expectations on topics such as life priorities, home and work life, ethical and health priorities and eating, leisure and shopping habits and use of technology. Consumer Megatrends covered are: Connected Consumers Ethical Living Experience More Healthy Living Middle Class Retreat Premiumisation Shifting Market Frontiers Shopping Reinvented

The Consumer Lifestyle in Nigeria report answers:

  • How is the consumer mindset in Nigeria changing? In Nigeria, what are consumer attitudes towards “green” and sustainable products?
  • What values influence consumers in Nigeria purchase decisions?
  • Where and how do consumers shop in Nigeria?
  • What health-related activities do consumers in Nigeria participate in?
  • What megatrends should I focus on in Nigeria (and why)?
  • How do I prioritize my investment? I operate in country x, which are the most important megatrends in that country?
  • My product chimes with the Healthy Living trend, what consumer behaviours do I need to consider for innovation planning?
Scope
The drivers shaping consumer behaviour
Megatrends framework
Businesses harness megatrends to renovate, innovate and disrupt
Digital living
Kwik aims to become the super-app for merchants
Nigerians are reliant on apps for a variety of activities
Most consumers are happy to share data to receive personalised offers
Baby boomers are most likely to freely share their personal data
Friends and family remain the most trusted source of information
Return to face-to-face activities expected post-pandemic
Experience more
Nigeria’s Gamr hosts Africa’s first esports tournament
Nigerians embrace all types of experience
Online socialising is more common than face-to-face
Gen X are keenest to resume in-person activities
Middle class reset
Casava brings insurance to the mass market via digital app
Almost half of Nigerians say they lead a minimalist lifestyle
Mindful consumption is on the rise
A fifth of Gen Z expect to decrease overall purchases
Premiumisation
Star Radler seeks more premium image with new sleek can format
Nigerians yearn for a simpler life
Consumers remain confident about their investments
Quality trumps value for money across all categories
Shifting market frontiers
Amazon Prime Video unveils localised experience in Nigeria
Nigerians have a keen interest in foreign cultures and products
Gen X are the most focused on supporting local business
Shopping reinvented
ZirooPay drives financial inclusion among small businesses with mobile POS solutions
Shoppers are eager to engage with brands via social media
Millennials are most likely to buy from social media platforms
Sustainable living
Koolboks provides eco-friendly and accessible refrigeration for small businesses
Nigerians are keen to play a part in protecting the environment
Wellness
ESH Nigeria launches world’s first all-natural foaming hand sanitiser
Nigerians are taking a greater interest in health and nutrition post-pandemic
Consumers are highly cautious about health and safety
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