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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.

Market Research

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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    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.