Wholesale and Retail of Food in Nigeria 2015

Wholesale and Retail of Food in Nigeria 2015

  • February 2015 •
  • 74 pages •
  • Report ID: 2798358
Nigeria’s US$99bn-a-year food retail sector is modernising rapidly. Shoppers with disposable income are swapping open-air markets for malls, convenience stores, supermarkets and online shopping. Despite vast infrastructural and distribution challenges for retailers, the formal food market is expected to continue encroaching heavily on the market share of the informal sector over the next few years. Foreign investors are attracted by Nigeria’s sizeable and growing middle class, which is the largest in Africa. In 2000, there were no supermarkets in the country

currently there are more than 30, and there is potential for further rapid penetration. Nigeria’s market leader in food retail is South Africa-based Shoprite, which obtained first-mover advantage when it opened its first store in Abuja in 2005 and envisions between 600 and 800 stores in the future.
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