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MARKET RESEARCH
Addressing the information gap in a key Nigerian retail segment
By our News Team | 2023
New research project aims to cast more light on the country’s poorly understood durable and consumer electronics retail market.
Market research company GfK has kicked off a new research programme in Nigeria, with the goal of closing some of the information gaps and casting more light on a poorly understood segment – the durable and consumer electronics retail market.
The GfK Retail Landscape survey is gathering information on around 13,000 technical and durable goods stores across the nine major cities in the country. Data will be validated through street-by-street observations and store manager interviews.
The busy business district in Lagos, Nigeria. Photo by Joshua Doubek via Wikimedia Commons
According to the company, it will also apply its Share of Recommendation quantitative framework to identify brand recommendation levels and measure performance on key drivers of recommendation by measuring which brands shoppers request, and which brands the retailers recommend.
This will help marketing teams to understand why store representatives recommend some brands over others, how they compare to their competitors, and what consumers are shopping for.
Nigeria’s diverse retail market
GfK notes that one of the major issues that companies face is that there’s a lack of reliable, structured, up-to-date information about Nigeria’s diverse retail market.
“It’s hard for companies to source insight into market dynamics across a vast country with a complicated retail environment,” says Ozarh Kajee, Business Development Director: Market Intelligence at GfK Africa.
“Companies cannot easily get answers to questions such as which brands are stocked and where; which are recommended by staff; and which channels to market are the most efficient and effective ways to reach the customer.”
Kajee adds: “What’s more, the Nigerian market has changed considerably since the start of the Covid-19 crisis in 2020. Trends such as accelerated adoption of e-commerce, higher inflation, and a volatile exchange rate have all dramatically reshaped the structure of the middle class, how retail channels operate, and the behaviour of the Nigerian consumer.
“Many companies are still basing their strategies on research and insights that date back to before the pandemic.”
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