Global operator in performance management and consumer insights firm, Nielsen, has unveiled its seven segment classification of Nigerian consumers, with the largest segment of 29 per cent consisting of Trendy Aspirants.
Others are the Progressive Affluents, Balanced Seniors, Evolving Juniors, Struggling Traditionals, Wannabe Bachelors, and Female Conservatives.
According to a statement, Nielsen revealed this analysis at 2015 Retail Leaders Conference, a platform where stakeholders, top Nigerian and international retail brands converged to ruminate, share ideas, analyse trends and discuss issues affecting Nigeria’s retail sector.
According to Nielsen, the “Progressive Affluents who form seven per cent are more interested in high standards, being the best, standing out and getting noticed, while the Trendy Aspirants who make up 29 per cent are more inclined to take risk to get rewards and they focus also personal appearance. The Balanced Seniors, 18 per cent, give attention to quality family time and looking natural self.
“On the other hand, the 22 per cent who are Evolving Juniors value aacademics, pace of city lifestyle and respect for elders, while those in the Struggling Traditionals category about seven per cent look out for products advertised in their native language and see technology as too complex.
The Wannabe Bachelors who form nine per cent are young men who see comfort as more important than style and agree that education is good enough, while the eight per cent Females Conservatives have traditional values and regard religion to be guiding source.
Managing Director of Nielsen West Africa, Lampe Omoyele, who kicked off the discourse at the 2015 Retail Leaders Conference with his presentation titled, “Understanding and Winning the Evolving Shopper,” explained that retail firms in the organised sector stand to benefit enormously when they understand the demographic and psychographics of the classes of shoppers who make up their target.
Omoyele noted that various classes of the segmentation patronise either the organised retail market or the open market in Nigeria and have their unique needs, values, purchasing power and status, stressing that what matters to people differs when they shopping for items.
He maintained that the significant factors that could determine success for a leading retail firm in the organised sector “is the ability to tap in to the unique needs of each shopper,” adding that convenience brought about by malls springing up in various localities and online shopping, has become a factor in today’s shopping as people do not want to go far before they get what they need.
Speaking further, Omoyele noted that consumer confidence is gradually rising in the Nigerian economy. He said the organised retail sector accounts for about 10 per cent of the industry, while the traditional trade has 90 per cent share.
The conference also had Peter Bamkole, Director, Enterprise Development Centre, Pan-Atlantic University, who spoke on the topic: ‘International Competition: They Are Coming; Are You Ready?’ Sylvester John, West Africa Executive of Game Stores made a presentation on ‘Successful Retailing: Challenges, Opportunities & Key Drivers.’
The Retail Leaders Conference which had the theme ‘The Future of Retail in Nigeria: The Seven Horsemen,’ held at Eko Hotels & Suites, Lagos brought together hundreds of business leaders, across retails, FMCG, manufacturing, banking, telecommunication, financial and other ancillary services providers.
Daniel Obi
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