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This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International's eight focus megatrends, and insights as to how each trend has manifested in Nigeria.
Euromonitor's Megatrends in Nigeria report analyses factors influencing national consumer expenditure. Consumer lifestyles reports include coverage of: population, urban development, home ownership, household profiles, labour, income, consumer and family expenditure, health, education, eating habits, drinking habits, shopping habits, personal grooming, clothing, leisure habits, savings and investments, media, communication, transport and travel and tourism. Use this report to understand the factors influencing a nation's lifestyle choices.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
Get a detailed picture of the Megatrends market; Pinpoint growth sectors and identify factors driving change; Understand the competitive environment, the market's major players and leading brands; Use five-year forecasts to assess how the market is predicted to develop.TABLE OF CONTENTS
The drivers shaping consumer behaviour
Megatrends framework
Businesses harness megatrends to renovate, innovate and disrupt
Digital living
Facebook's Sabee app aims to make online learning accessible to all
Consumers are becoming more reliant on apps
Younger generations are keen gamers
Most Nigerians happy to share data in order to get personalised offers
Baby Boomers are most likely to freely share their personal data
Friends and family remain the most trusted source of information
Return to face-to-face activities expected post-pandemic
Experience more
uduX music streaming app now available to MTN users
Nigerians embrace all types of experience
Millennials are the most willing to spend on experiences
Online socialising is more common than face-to-face amid pandemic
Gen Z not as keen to resume face-to-face activities as other generations
Middle class reset
Digital banking app Kuda offers consumers short-term loans
More than half say they would rather by fewer, but higher quality things
Millennials are most likely to be bargain-hunters
Half of consumers regularly donate items to charity
Gen Z are most keen to increase purchases of used items
Premiumisation
Grand Oak appeals to urbanites with premium chocolate-flavoured gin
Most Nigerians yearn for a simpler life
Baby Boomers are the most individualistic cohort
All age groups are confident about their investments, especially Boomers
Novelty or quality trump value for money across all categories
Shifting market frontiers
Arla builds new dairy farm to help support Nigerian dairy sector
Nigerians have a keen interest in foreign cultures and products
Almost two thirds of Millennials expect to work abroad in the future
Gen X are the most focused on supporting local business
Shopping reinvented
Konga boosts social commerce with monthly live auctions
Shoppers are eager to engage with brands via social media
Baby Boomers are most likely to follow companies' media feeds
Sustainable living
Portable handwashing station aims to improve hospital hygiene
Nigerians are keen to play a part in protecting the environment
Wellness
Health Plus launches Nigeria's first e-pharmacy
Consumers take a greater interest in nutrition amid the pandemic
Millennials are the most likely to undertake regular exercise
Baby Boomers are the most tech-focused cohort in relation to health
Consumers are highly cautious about health and safety
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