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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/
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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/ Japanese retail giant, Miniso has disclosed plan to aggressively increase the number of its shopping stores in Nigeria by an additional 200 before the end of next year.
The Managing Director of Miniso Nigeria, Mrs. Key Yang, said this during an interview with journalists in Lagos at the weekend... More details through: https://www.thisdaylive.com/index.php/2018/08/13/miniso-japanese-retailer-targets-additional-200-stores-in-nigeria/ Shoprite Nigeria recently opened its 25th store in Novare Central, the newly launched shopping mall in Wuse, Abuja. Shoprite Wuse promises to be a destination of choice for shoppers in Abuja. In addition to offering consumers the lowest prices on everyday grocery items, the new store also has an extensive range of quality products and a number of in-store fresh food departments including a Meat Market, Bakery and Fresh Fruit & Vegetables…
More details through: https://www.vanguardngr.com/2018/07/shoprite-nigeria-opens-its-25th-store/ Real estate investment firm, Novare Real Estate Africa, has so far invested over $500m in the development of malls in Nigeria. The firm made this known during the announcement of plans to unveil its fourth shopping mall, the Novare Central, Abuja, expected to be opened on July 19, with an exclusive ceremony a day before…
More details through: http://punchng.com/novare-invests-500m-in-malls-development/ |
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