‘Nigerian retail industry still enjoys steady growth’

Experts in the Nigerian retail industry say the industry is still enjoying a period of positive transformation marked by a steady growth pace, despite the country’s economic situation.
It is noted that the growth is being driven primarily by individual’s purchasing power and behaviour, and the ever-evolving market size.
This revelation was made at the advisory board meeting of the Home Décor and Giftware Expo, which attracted representatives from various business units within the retail industry, especially in the home décor and giftware.
It was noted at the meeting that retailers and suppliers were taking advantage of Nigeria’s staggering population of over 180 million and the recent market trends to bolster their business activities.
The advisory board meeting is a platform designed by the Clarion Events West Africa, Home Décor and Giftware team, for industry experts to analyse the relevance of the Home Décor and Giftware Expo to the retail industry while making relevant contributions to ensuring a value-oriented experience at the upcoming expo.
According to Ewaen Sorae, managing director, Esorae Luxury, three major factors drive retailing, namely product quality, affordability and associability, all of which the home décor and giftware represents and seeks to achieve at the 2017 Expo. He further projected the establishment of many more business opportunities and collaborations across the international and local spectrums.
Also speaking at the event was Omon Mordi, founder of Blue Mahogany, who is excited about the forthcoming expo in anticipation to see large varieties of home aesthetics and gift items.
The commercial director, Clarion Events West Africa, Russell Hughes, says the retail sector is incredibly interesting as it measures about $25 billion per annum, based on various reports. He also states that the expo is being organised to further stimulate the Nigerian economy through the retail sector by providing training platforms for buyers of retail items.
Bunmi Aliyu shares details on how the Home Décor and Giftware Expo will provide viable access to the best of international and ‘Made-in-Nigeria’ products, while also building capacity through the various network sessions and conferences within the event.
Home Décor and Giftware is Nigeria & West Africa’s premier retailers Buying Trade Fair, showcasing hundreds of new brands & products. The event which is organised by Clarion Events West Africa, a subsidiary of Clarion Events Limited, who are responsible for 180 international trade fairs every year delivered from 13 global offices, including a Portfolio of Retail & Home exhibitions covering design-led and every-day giftware and homeware.