Over the years I have been involved in helping businesses understand who the Nigerian consumer really is and every time it is intriguing to learn that the Nigerian consumer is one of the most dynamic consumers in Africa. The Nigerian consumer is constantly changing and embracing new ways of life and living. You may say this is only true for those who live in the urban areas but I say the biggest dynamism in lifestyle choices and behaviour is most visible in the rural areas where you will expect life to be backward.
The Nigerian population currently shows a young and aspiring population with a median age of 18 years where the cluster market remains relatively untapped providing a readily available market for youthful products. However, the Nigerian consumer is highly price sensitive and is usually not a brand loyalist-a behaviour highly informed by the socio-economic conditions whereby the bulk of consumers are striving to find sustainability on a daily basis.- Nigerians spend the largest share of their income on Food, Beverage & Tobacco with major food items being bought including tubers, plantain, vegetables, rice, beans and cereals. Even though milk, coffee and tea consumption is lower than that of other regions in Africa there is a visible increase in consumption in the last decade. More babies are born in Nigeria than in any other part of West Africa.
The average Nigerian consumer is seeking value for money while trying to ensure that his identity is adequately represented in every product or service used. The need for authenticity by showcasing culture in self expression and creativity is also an attribute the Nigerian consumer craves. Each product or service experience is revered as this helps to accentuate a sense of empowerment and uniqueness.
Achieving the fine line between moderation and balance is usually a tough one when seeking to satisfy the 9ja consumer. Young kids want to be Older. Older adults want to be younger.
How do you find the right balance with the different targets existing within this very large market? Having the right information. Knowing the best strategy to use for your target.
Every brand wants to win a share of the consumer’s wallet . Without information and knowledge to give the much needed type of insights…
It’s almost impossible to win!
Dolapo Akinola-Omojola is an insights, research and strategy consultant. Every opinion expressed in this blog post is wholly based on her professional experience and participation in varied projects over the years for different businesses and brands. You can reach out to Dolapo on firstname.lastname@example.org or check out the firm’s web site on www.mmonitorconsulting.com.