Mergers with Online Channels to Augment Demands for Variety Stores in Nigeria - Ken Research

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Mergers with Online Channels to Augment Demands
for Variety Stores in Nigeria - Ken Research
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• 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.

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• 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.

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• 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

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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-format modern retailers
that will be able to provide great deals of
bargains to the consumers, especially in harsh
economic times such that the industry also does
not face a situation where it has to incur
losses. It is anticipated that the sales revenue
from such stores will register an optimistic
growth in the coming years since major players in
this channel are expected to begin their ventures
as pure internet retailers and thereby it is
foreseen that an amplification of the internet
retailing operations is highly likely to
supersede the existing
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• physical stores generating massive revenues at
  the same time.
• KONGA has been noticed to be the largest online
  mall in Nigeria, with which Yudala has lately
  made an official agreement for a merger of
  operations which is expected to rather result in
  the biggest organized retail and e-marketplace on
  the African continent, five years from now. This
  strategic decision is anticipated to cause both
  companies leverage on the combined strengths of
  both platforms, and is further expected to
  embolden the scope of variety stores in Nigeria
  and end up delivering more valuable services to
  the Nigerian customers as well as merchants.
  Hence, efficiency of this merger would ultimately
  generate the best shopping experience imaginable
  for the Nigerians.
• On a whole, the range of products and solutions
  on offer are expected to keep on booming by
  simultaneously providing the customers and
  merchants with an access to a massive variety of
  guaranteed quality offerings coupled with
  enhanced payment methods and thus, this

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industry will surely flourish with ongoing
innovations and developments as the years roll
by. To know more about the research
report https//www.kenresearch.com/consumer-produ
cts-and-retail/wholesale-and-retail/variety-stores
-nigeria/144421-95.html Related
Reports https//www.kenresearch.com/consumer-prod
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on-of-innovations-in-the-retail-industry-in/146628
-95.html https//www.kenresearch.com/consumer-pro
ducts-and-retail/wholesale-and-retail/retail-and-w
holesale-global-market-report/143734-95.html
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