GfK is the trusted source of relevant market and consumer information that enables its clients to make smarter decisions. More than 13,000 market research experts combine their passion with GfK’s long-standing data science experience. This allows GfK to deliver vital global insights matched with local market intelligence from more than 100 countries. By using innovative technologies and data sciences, GfK turns big data into smart data, enabling its clients to improve their competitive edge and enrich consumers' experiences and choices.
Small Domestic Appliances Markets 2016 Overview: Global vs Nigeria
In 2016, the Small Domestic Appliances (SDA) market experienced growth worldwide. Total global revenue was around 61 billion USD with a 5% growth over 2015. In Nigeria however, the market for SDAs experienced an 18% decline in units compared to previous year. This was due largely to the recession in the country in 2016 resulting in a negative growth rate.
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Nigerian Smartphone market has recorded 5.7 million units in 2016 with a 17% decline compared to 2015 figures, according to GfK Point of Sales data.
The market continues in a downward trend for the first 2 months of 2017. Global Smartphone demand totaled 1.41 billion units for 2016 and GfK forecasts a 3% growth for 2017, resulting in 1.48 billion units.
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In the latest edition of Tech Trends we focus on five of the hottest technologies that have the potential to impact Connected Consumers’ lives.
We ask when payments will be mobile, how virtual reality will work in the “real” world, when homes will be smart, if vehicles will ever be autonomous, and finally, we warn you not to dismiss wearables.
Don’t miss out on the power of these five trends to transform your business: download our full Tech Trends 2017 report.
To many Nigerians a smartphone is more than just another device that accomplishes certain tasks such as making or receiving calls. Nigerians actually see their smartphones as an expression of their status and lifestyle, and have constantly identified their smartphones as one thing they cannot do without.
The Nigeria Population Survey is the brainchild of the GfK Verein with co-funding provided by the German Investment Corporation. The survey covers 2,500 respondents spread across thirty-five of Nigeria’s thirty-six states and the Federal Capital Territory. An impressive 465 out of Nigeria’s 755 Local Government Areas were sampled.
The survey provided extremely useful insights in areas such as demographics, education, daily life, income and expenditure, living conditions and Nigerian mood and values amongst others. We are extremely proud in GfK of our ability to take big data such as the Nigeria Population Survey and turn it into smart data that can be useful to all players in the market place.
The Nigerian retail scene is thriving and remains an important market to manufacturers with it's huge potentials in terms of population and purchasing power. GfK has been tracking retail sales developments for Technical Consumer Goods for the past eight years and is in poll position to provide clients and prospects with deep insights on how the markets operate.
The retail landscape, in the top forty cities which we monitor on a monthly basis is rapidly evolving. There is presently the establishment of more organised retail chains in the major cities. In addition to this more and more shopping malls are currently being built thus taking the concept of organised retailing closer to the consumer.
The "informal" retail sector still accounts for a substantial percentage of retail sales though, as independents litter the Nigerian marketspace. Many people have taken up retailing as a business opportunity which accounts for the thousands of stores springing up in many Nigerian cities.
There are currently over six thousand stores retailing technical consumer goods with the highest numbers involved in retailing Phones and their accessories in Nigeria's top forty cities. Even online retailing is booming with many Nigerians buying products online and paying on delivery.
GfK is perfectly positioned to provide interested investors and stakeholders with data and insights, in other words research that can lead to smart business decisions. You can rely on us for a proper understanding of all the channels, universes and peculiarities of the Nigerian Retail Scene. Kindly contact us for more information of how we can be of service to you.