Market Research Reports - Ken Research Market Demand for Mixed Retail Stores in Nigeria

Mergers with Online Channels to Augment Demands for Variety Stores in Nigeria - Ken
Research
Stores that usually provide a variety of electronics, apparel, and other non-grocery products are
known as variety stores. These stores have proved to be totally convenient for all the busy
consumers who seek one-stop shops for their needs.
The research report titled, “Variety Stores in Nigeria” offers significant insights into the major
trends and developments that are driving the variety stores industry in Nigeria. It well examines
all the retail channels such that sector insights are given to the users. The channels in such
industry mainly caters to- hypermarkets, supermarkets, discounters, convenience stores, mixed
retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing
stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers.
The report very well highlights the industry trends by producing: market sizes (historic and
forecasts), company shares, brand shares and distribution data. Also, it carries out an analysis
of the major retailers related to this industry to give a true and transparent image to the users.
In Nigeria, the advent of variety stores took place back in 2015 and since then it has been in its
mushrooming stage where it has a lot of scope to develop further via rising awareness of
variety stores and related expansion of these outlets in most urban cities in order to ultimately
enlarge the consumer base by offering reasonable prices to them.
Evolving number of young middle-income consumers has been witnessed as a constant market
driver for these modern store-based retailers, as they relish a wide range of sophisticated
electronics, apparel and appliances which have long managed to appeal them. Furthermore,
these stores are expected to continue growing in the years to proceed with rising income levels
coupled with ongoing trends of urbanization.
Mainly there are two variety stores in this channel namely, Yudala and Addiba which have been
observed to be in their early stages of development and Yudala has managed to supersede this
industry having a nationwide reach since its outlets multiplied rapidly to 21 from 8 in just two
years. While, Addiba came into the industry in 2016, and possesses only 4 outlets currently and
is therefore striving to gain a good portion of market share and for this share gaining, it has
been lately noticed to offer high-quality products, particularly electronics and appliances that
are trendy amongst the young population such that customers start believing in the brand with
upcoming advances in technology.
In the coming years, these two brands are projected to witness growth since they will persist to
provide affordable products which will undoubtedly suit the vast majority of Nigerians who are
frugal in nature. For their success, they have very well identified the potential within smaller-