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Samsung Electronics West Africa, in partnership with Cash ‘N’ Carry has stepped up its nationwide market expansion drive in Nigeria making its brand and services now available in all Cash ‘N’ Carry stores across the country.
According to a statement by Samsung, the retail expansion drive was designed to enhance consumer experience and provide consumers with a thrilling avenue to interact with Samsung’s full range of solutions and an extensive range of premium household appliances in one easily-accessible location, whilst creating widespread destinations where consumers can experience firsthand Samsung’s extensive product ecosystem and receive personalised service from trained sales consultants. Managing Director, Samsung Electronics West Africa, Mr. Caden Chiyeon Yu, described the partnership as a testament to the strength of Samsung as a brand in Nigeria and the customer loyalty that the company has built over the years… More details through: https://www.thisdaylive.com/index.php/2020/07/01/samsung-strengthens-retail-presence-in-nigeria/
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The total national household consumption expenditure on food and non-food items stood at $105.78 billion (N40.20 trillion) in 2019, according to the National Bureau of Statistics (NBS).
A similar study conducted in 2009/2010 by the NBS had put total household expenditure at N21.62 trillion. The NBS stated that of the total expenditure in 2019, 56.65 per cent was spent on food while about 43.35 per cent was expended on non-food items. According to the Consumption Expenditure Pattern in Nigeria 2019 report released by the statistical agency, food consumed outside the home, followed by transportation costs and starchy roots, tubers and plantains were responsible for the largest proportion of household expenditure representing a combined 24.16 per cent of total household expenditure during the year under review… More details through: https://www.thisdaylive.com/index.php/2020/05/15/nbs-nigerians-spent-n40-20tn-on-food-transport-others-in-2019/ A Swiss watch manufacturing firm, Mauron Musy Swiss Maison, is making a huge presence in the Nigerian market with the unveiling of its technologically-driven wrist watches and other investments.
The watch brand said it was investing in the country’s economy with a strong focus to deliver quality products and services that would satisfy the needs of Nigerians… More details through: https://punchng.com/swiss-brand-targets-nigerian-market/ Xirea apparels Limited officially has opened its World Class factory for business in Lagos. Xirea Apparel commissioned two warehouses (Raw materials and Finished Goods) and the garment factory.
A statement from the company said the event also showcased the Launch of West Africa’s first indigenous brand of Personal Protective Equipment(PPE) – Buphalo. Buphalo Active Gear is Xirea’s first customer and showcased its products by hosting Africa’s first ever Safety Fashion runway to the delight of the guests… More details through: https://www.dailytrust.com.ng/xirea-apparels-opens-factory-in-nigeria.html Omega, a top global wrist watch brand is partnering Polo Luxury Group, Nigerian luxury product retailer, in the opening of its first wristwatch store in Africa.
The development is putting Africa on foremost Swiss watchmaker’s distribution channels since inception over 170 years ago in Bienne, Switzerland, as the store will offer discerning customers in Nigeria world-renowned timepieces through Polo retail outlets across the country. More details through: https://businessday.ng/companies/article/omega-partners-polo-luxury-for-first-wristwatch-store-in-africa/ Online shopping in Nigeria and other African countries could account for up to $75 billion in retail sales by 2025, a report by the McKinsey Global Institute has projected.
The report, which was got by The Nation, said e-commerce and Financial Technology (FinTech) represent two of Africa’s biggest growth opportunities, with the growth of the mobile technology market driving the two sectors… More details through: http://thenationonlineng.net/online-shopping-in-nigeria-others-may-hit-75b-by-2025/ Despite the challenging operating environment, interest from foreign brands in the country’s retail market remains strong, a report by real estate services firm, Broll Nigeria says.
In its analysis of the retail sub-sector in the last quarter of 2018, the firm said international brands’ interest in the country had not waned, even with the low purchasing power of consumers. “These brands were mostly interested in franchise agreements with experienced local operators,” the report stated… More details through: https://punchng.com/more-foreign-investors-eye-nigerias-retail-market-report/ The Nigerian e-commerce industry is said to currently worth over $17bn. This is buoyed by a growing cashless economy which has seen digital payment and electronic banking implemented in phases across 27 states of the federation, beginning with Lagos as a pilot in 2012…
More details through: https://www.vanguardngr.com/2019/01/why-e-commerce-may-headline-nigerias-next-economic-boom/ Following Nigeria’s exit from economic recession that enveloped the country’s economy in 2016 and part of 2017, which slowed consumer purchasing power, confidence is gradually returning to the economy, Chief Executive Officer (CEO) of Hubmart Stores Limited, Murat Bektaslar has said.
Bektaslar, who made the remark during the awoof Promo draw organsied by Hubmart to appreciate its customers in Lagos, said retail business has huge potential in Nigeria… More details through: https://www.thisdaylive.com/index.php/2018/11/09/consumer-confidence-gradually-returning-to-nigerian-economy/ Thirty years after entering the Nigerian market, SPAR has inaugurated a new megastore outlet in Leisure Mall, Surulere, to offer choices to consumers. The new development has thus introduced a new trend to the competition among operators of shopping malls in the country. The store is the company’s eight outlet in Lagos and 14th in Nigeria…
More details through: https://www.thisdaylive.com/index.php/2018/11/07/spar-opens-new-retail-store/ |
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