The Nation Newspaper

Category: Shopping

  • Oputu, others make case for vibrant fast food industry

    THE nation’s hitherto burgeoning fast food industry, now experiencing a lull, has the potential to expand if well harnessed. This was the submission of a cross-section of experts, who attempted a prognosis of the quick service industry.

    The occasion was at a public forum at the instance of the Association of Fast Food Confectioners of Nigeria (AFFCON) at its second annual national conference in Lagos.

    The conference tagged: ‘Food Industry in Nigeria: Challenges and Opportunities’, had the former Managing Director of Bank of Industry, Ms Evelyn Oputu, as guest speaker.

    Oputu, who spoke against the backdrop of the opportunities in the sector, challenged the fast food industry to take charge of affairs in their value chain, noting that waiting for the government to solve the problems in the system could be an endless effort.

    According to Oputu, AFFCON has to strengthen its value chain by putting the smallholders, who supply food, grains, vegetables, oil, spices, and other food ingredients into cooperatives, so that they can be more efficient, cost-effective and productive.

    She noted that the customers do not care about all the problems of high cost of materials and production facing the local entrepreneur. “The customer is only concerned about getting quality at the best price, on time and in the right place. Since the cost of production in Asia is low, it is usually very difficult competing, and the customer does not care the nationality of the brand that offers the best product at the best price,” she said.

    She, therefore, advised that the customer should be met at a deeper level that would offer him value and satisfaction.

    Twenty-five per cent of the fertile land, according to Oputu, is in Africa. “Yet we produce 10 per cent of the food needs of the world. That is unacceptable. The person, who will grow is the person who will grab the opportunities in the system. Agriculture has become a business. Nigeria is full of opportunities. We have the land, the people, and our people are lazy,” she said.

    “These three factors make our country a place to be tapped. Those who are outside see what we don’t see. While we grumble about the difficulties in the system, they see the opportunities and tap into them. How can one explain the fact of one seeing Ijebu garri in London imported from South America, or Nigerian yam imported from Ghana?” she asked.

    Earlier, in her welcome address, AFFCON President, Mrs Bose Ayeni, noted that Nigeria’s rebased economy in April this year, which saw her GDP leaped from $262 billion to $510 billion to become the biggest in Africa and the 26th in the world, is a testimony that in spite of the huge challenges Nigeria is grappling with, Nigeria’s economy is a goldmine waiting to be tapped.

    Ayeni explained the contribution of the fast food industry to the nation’s economy saying: “The Nigerian fast food industry is a significant contributor to the Nigerian economy, with estimated annual revenue of N200 billion and taxes in excess of a billion naira. It also collectively provides employment for over 500,000 people at the processing and retailing levels.”

    AFFCON, she said, is contributing to the reduction of unemployment, a focal point of the government. The figure, according to her, can grow significantly given the right environment for businesses to thrive.

    “Our food sector is dominated by some 150 small to medium-sized indigenous brands with over 800 outlets/restaurants spread across Nigeria.  Small and medium scale enterprises are the bedrock of economic growth. This has been demonstrated in developed and developing economies in the West and in Asia. Many of the small local players, who operate at the neighbourhood level, also have potentials to become big, given the right environment to thrive,” she said.

    Speaking on the growth in urbanisation and its effect, Ayeni noted: “Globally, we are living through the largest wave of urbanisation in history.  Urban population, being more prosperous, aided by the steady decline in poverty arising from economic growth, will give rise to a greatly expanded consumers group. We, as operators, must understand the nature of this expanding consumer group. In Nigeria, they are largely youthful and culturally diverse. We must understand the strategies required to reach them.”

    She also stressed the importance of the social media in today’s business, saying: “Between 2012 and 2013, total global social media audience increased from 1.47billion to 1.73billion. With 25 per cent of the population now online using social networks, we cannot be left out of the opportunities that abound in tapping into the use of social tools for business values.”

     

  • Ikeja City Mall hosts Tuface to autograph session

    It is not surprising to find celebrities doing their shopping with friends and family when it can be done by their assistants and aides. From fashion shows to celebrity shopping, there are always exciting events happening at Ikeja City Mall and last Friday wasn’t different as the mall hosted iconic R&B artiste, Tuface Idibia, with some musicians signed under his music label, Hypertek Digital, Dammy Krane and RockSteady.

    Other artistes and celebrities present included Fuji maestro, Wasiu Ayinde Marshal (KWAM1); Wunmi Obe; Terry G; Shay shay; Kenny Ogungbe; Kenny Saint Brown (KSB); Weird Mc; Nigga Raw; Yaw of Wazobia Fm; I.D Ogungbe and Copyright Association President, Tony Okoroji.

    It was a day they walked round the mall, from one store to the other, signing autographs for shoppers. Idibia, who was hosted to an autograph session by the mall’s management, signed autographs for shoppers who bought his album from stores such as Silverbird Cinemas; Ruff ‘n’ Tumble; Mr. Price; Bruno’s Place and Bheerhugz Café.

    Some lucky shoppers, who went home with gift items such as Infinix smart phones, bottles of Hennessey, souvenirs, dog tags, spinet cards, complimentary movie tickets from Silverbird and some of 2face’s hit CDs, among others, expressed their delight. To them, the mall knows how to appreciate loyal customers.

    Shoppers, who made purchases of N5, 000 and above including Tuface Ascension CDs, qualified for the Lucky Dip, an autograph by 2face and a selfie (photo) with him. Also, some other shoppers had the opportunity to sing any of his song and went home with Infinix Zero smart phone; Digifon Speaker; Hennesy bag packs; BlackBrotherBaby face cap or won N5, 000 cash in a dance and quit completion anchored by I.D Ogungbe.

    One of the lucky winners, Vian Osagie, screaming in excitement said: “I have always looked up to a day like this. I met Tuface one on one and had selfie with him. I also sang one of his songs and I am going home with an Infinix Zero smart phone. I feel elated.”

    Another winner, Lola Bello said: “I bought items worth N10, 000 from Ruff ‘n’ Tumble and I sang one of Tuface’s songs, in return, I got his autograph on his CD and a digifon speaker as a reward.”

    Impressed with the turnout of young people at the mall, Itu-Baba, as he is fondly called, said the response he got from the shoppers indicated that people wanted peace and a free/fair election next year, which was his aim for promoting the ‘Vote Not Fight’ Campaign against violence to launch his Triple Trek Tour with other artistes at the mall.

    Reminding shoppers of the ongoing Independence promo, the mall’s Marketing Manager, Eniola Ositelu said: “The ongoing independence promo, which began the first day of this month would be concluded on October 30 (yesterday) with the raffle slated for November 5. People are encouraged to keep shopping and dropping purchase receipts in the drop box at the central entrance between KFC and Chicken Republic.”

    The mall, he said, remains the choice destination for shopping, entertainment and leisure, from top fashion brands to food courts, which cater for every taste bud.

  • ‘The mall is a place to meet young people’

    ‘The mall is a place to meet young people’

    The popular Rythm and Blues (R&B) artiste, Tuface Idibia, has taken his ‘Vote Not Fight’ campaign to the Ikeja City Mall, Lagos.  He spoke with TONIA ‘DIYAN on the importance of the campaign. Excerpts:

    Tell us what brought you to Ikeja City Mall?

    Today is the last day of the Triple Trek Campaign tagged: ‘Vote Not Fight’, which I am headlining. Election no bi war! I want to talk to the youths to shun violence during elections. I am also marking the release of my Face to face Album. The album is 10 years old this year and Kennis Music will be releasing it. I have also done a compilation of some of my songs, which I will be releasing soon. I remixed them and uploaded the sounds.

    Why did you choose Ikeja City Mall for your campaign?

    So many people patronise the mall, particularly, young people. And if you want to pass a message across to people, who are young ,  a shopping mall as this, is one place you can do that successfully. Therefore, I have found Ikeja City Mall more conducive to pass my message. I have walked round the mall with my colleagues, it is a massive place.

    What do you think about the response?

    I think Nigerians really want peace. They want free and fair elections. People are tired of politicians using them to win elections and after they get into power, forget about them. The response here today is an indication that people, especially the youths, want peace.

    Are you looking forward to doing a song for the election?

    Yes, I might do a song. I’m not sure yet. I can’t say for now, but I’m looking forward to something.

    Aside the campaign, what do you think of the mall?

    The mall is a welcome development in Ikeja and its environs. It is big, massive and I like it.

    Do you go out to shop and how often?

    I go out to shop once in a while, its fun.

  • Supermarkets’ bargain tactics: who bears the loss?

    Supermarkets’ bargain tactics: who bears the loss?

    Shoppers are often deceived by the seemingly endless succession of rollbacks and extra free deals adorning supermarket shelves, trusting these supermarkets to help them save money. But the sincerity of these deals could be questionable, reports, TONIA ‘DIYAN

    It has become a usual practice that at this time of the year, discount prices on goods online and offline become the order of the day with shoppers scrambling for significant discounts on immediate buying because of the deal offers available.

    Asked if special offers are designed to provide the average shopper with good value or it is a mere bargain tactics for supermarkets, Femi Oluyole, a banker who was buying groceries from a supermarket in Anthony-Lagos thinks supermarket pricing policy is designed to increase margins primarily through convincing their ‘loyal’ customers into buying bargains that are not sincere bargains’.

    Adding that he finds it very confusing and time-wasting trying to work out which products are included in any offer, which is often not clear to him’. Oluyole said he noticed that in the home bake section of the store, there is a promotion to buy three items for the price of two. He also noticed a shelf full of items priced at only N15 each instead of their normal price of N50 per one.

    At Justrite Supermarket in Abule-Egba and Iyana-Ipaja, a shopper, Sholape Moyosore noticed that baking potatoes in a four pack which she uses for her baking as a caterer, all medium sized potatoes are charged at a premium price. She said: “I always understood a baking potato to be sold according to their sizes but the reverse is the case here.”

    She said also bought some grocery items from the supermarket for a certain price, but when she went back a few days later to buy more, the price had risen quite significantly. “When my husband queried this, he was told by an assistant (as if he was doing him a favour) to come back at the weekend as there would be a 20 per cent discount because of promotion. There was indeed, but the 20 per cent off still left the price far higher than when we had purchased the item originally. All this happened within the space of one week.”

    An elderly man, Pa Oluwole who has lived 40 years of his life in the United States, said he could not trust supermarkets because they are always saying they have the interest of their customers at heart when indeed, they are just out there to milk them.

    He said:  “Why should I trust supermarkets when they are always shouting about how they have the interest of their customers at heart? But I know how well they tell lies with their attractive offers. My daughter now shops for me at other outlets such as markets and small independent shops where many items are in fact cheaper and often better quality.”

    When price slashing and discount offers first became popular; supermarkets took advantage of what they saw as a veritable source of publicity and an opportunity to attract more customers. But, as the industry is growing and they are trying their hands in the marketing strategy, they say it has turned out that the deals weren’t offering the anticipated returns on investment.

    They often put attractive gift items on display as a bait to grab the shopper’s attention as soon as he walks into the store.

    All essential items are widely dispersed throughout the store. This is so that other ‘non-essential’ items can catch the shopper’s eyes as he walks around. He is being encouraged to spend more money.

    George Ukwunna is the Branch Manager of the Apapa Shoprite store. When The Nation Shopping met him to find out if the special offers which his store gives out on a daily basis are designed to provide the average shopper with good value for their money or if they are mere supermarket bargain tactics, he said: “Special offers are definitely designed to give customers value for their money.”

    He illustrated his belief by saying when a shopper buys an item at 20 per cent reduced cost from its market value, it gives him/her an opportunity to stock up while the offer last. According to him, the shopper will be able to save money by shopping at a well discounted price.

    A lady who simply identified herself as Rita said giving discount is another publicity stunt. Rita, who is the store manager for PEP, said because the store aims at getting publicity because they are new in the market, they have often introduced aggressive mark downs and promotions. She however said, “If it is all about the profit and not the customer’s satisfaction, the store won’t have an exchange policy. In other words, the customer is our priority and everything we do here, is at their interest.”

    The Nation Shopping gathered from a source that some supermarkets within the Lagos metropolis have decided to minimise, but not stop their price slashing strategy, saying the strategy may not actually be such a great thing for them after all. They have also realised that they are offering discounts against their best interests and may not actually present such inviting offers all the time.

    But, for the few customers, who visit after enjoying discounts, these supermarkets might decide that the idea is a bad deal and begin to turn their backs on it.

    Our source said it is only about three per cent of supermarkets which offer deals daily, weekly and monthly that end up sustaining their additional customers. Those who offer huge discounts and don’t retain their customers sometimes end up with low profits, loss of the initial patronage or no gain from the deals.

    However, some experts have said, bargains are not always what they appear to be. “For example, one customer picked up a 12-pack of toilet paper advertised as 30 per cent off. However, on closer inspection this was one of the more expensive packs on offer.”

    Speaking on the way forward for pricing and special offers, the Consumer Protection Council (CPC) has said it is calling on supermarkets to make their pricing clearer.

    CPC said: “We want them to show clear unit pricing – the price by weight, volume or unit – so that people can easily compare what they’re buying. We’re also putting pressure on them to sort out special offers so that they’re exactly that special which they are.

    “Last time we went round supermarkets with a trading standards officer and found lots of items that were over price in the name of promotional discounts and aggressive mark downs.

    “In some cases, products were listed as higher than they actually were. A 150g of detergent costing N300 was priced at N450. A 125g toilet cleaner for N350 was displayed as costing N500 for a bottle.

    “We checked the price per kilo, per 100g or per 100ml on a couple of products – looking at types of foods where errors have been spotted in the past. We found a quarter were wrong. In some of those cases, trying to buy the ‘cheaper’ product according to the unit prices displayed would have led to a consumer actually buying a more expensive item.”

    Advising shoppers, an expert says: “it is wise to check the price of individual items to see how much one will really save before purchasing”.

    He said products on the shelves at eye level are usually the most expensive items available. The supermarket’s own brand and economy items (cheaper products) are likely to be on the bottom shelf.

    For him, shelf labels make it hard for people to compare what offers the best value. By looking up on metric measurements, one can check different products and compare the price per weight/volume to see which products give the best value.

    Advising people to note that supermarkets have all their magazines stacked up by the counter, the expert said, they are strategically placed to give the shopper something to do whilst he/she queues up to pay for items.

    Other experts have said bargains are not always what they appear to be. “For example, when a customer picks up a 12 pack of toilet paper advertised as 30 percent off and takes a closer inspection at the item it will actually be one of the more expensive packs on offer.”

    Also advising parties involved, the Chief Executive Officer of Supermart, Mr Raphael Afaedor said::”If merchants are running deals, they should offer reasonable discounts that will still allow them earn profit at the end of it all.”

    He dded that customers, who are taking advantage of discount offers, should keep in mind that the goal of the supermarket is to make money, so sometimes; the offers might not be quite as great as the customer is hoping it will be.

    “The offer might be on products that a merchant wants to get rid off in order to accommodate new ones, or it might simply not be a really great discount.”

    Raphael, however, advised consumers should endeavour to carry out independent researches and confirm prices and product reviews before they jump on making a purchase offered as a discount sale.

    Having said all these, while price slashing, mark downs and promotions turn out to be bad business for many, there are still some supermarkets and shoppers who will make it available always or go for it when they go out shopping. Particularly at times like this when so many people do their shopping. Some merchants give out discounts on varieties of items they display daily and some shoppers will only visit such stores with discount offers.

     

  • Mega Plaza shut over tax evasion

    Mega Plaza shut over tax evasion

    Mega Plaza was last Friday shut by officials of the Federal Inland Revenue Service, (FIRS) over tax related offences.

    The owners of the shopping mall on Idowu Martins Street, Victoria Island, allegedly owes tax arrears running into millions of naira, as they have not filled the company’s tax return since 2009, and that several letters written to the company both for demand of returns did not yield any result.

    Following the inability of the company to comply with the FIRS directive, its officials led by the head, special enforcement, FIRS Mr. Nuhu Ibrahim, a Police Superintendent, supported by Innocent Ohagwa, Director, Large Tax Payers Department non – oil, Mr. Kayode Taiwo, Controller, Large Tax Payer, Lagos FIRS and other FIRS officials and police enforcement gang, stormed the popular mall to demand for the payment of the tax areas.

    For about 30 minutes the officials of FIRS shut down all business activities at the Plaza, it took the intervention of one of the company’s tax consultants who followed the team to its Lagos headquarters before the mall was reopened for business.

    The team also visited the ABBNG Limited on Etim Inyang Cresent, Victoria Island, to demand for its outstanding returns for 2011, 2012 and 2013 account.

    The leader of the team, Ohagwa, said the visit to those companies, is to sensitise them and demand for proof of their tax payment which they have failed to remit for a long time, “any attempt for them not to file their returns on time may lead to sealing off of the company and the arrest and prosecution of its management because we have the mandate to prosecute tax evaders.” said Mr. Nuhu Ibrahim

     

  • Infinix Zero partners Konga

    Following the introduction of Infinix zero last month, the company has partnered Konga to enable people buy the product online and at affordable prices.

    Head of Marketing, Infinix Mobility Co, Ltd, Peter Zhou, made this known at the conference held at GRA Ikeja when he said the Infinix zero will be 45per cent cheaper if purchased on e-commerce compared to the shop outlet.

    “We are partnering with Konga because it is the best market platform in Nigeria as shown by several metrics. Infinix zero is sold online because the cost of e-commerce is cheaper than that of the brick and mortal market, thereby making products affordable for customers.” he said.

    The product has so far sold over 20,000 which is an embodiment of aesthesis.

    Also present at the conference was the Trade Sales Manager / Operators, Shobanjo Adebayo and the Country Manager Sales, Bruno Lee both of Infinix Mobility Co, Ltd.

     

  • World’s best shopping cities

    Seoul:

    Where the most credit card transactions per person take place with serious shopping addictions. While foreign luxury goods tend to get a hefty mark up, local boutiques tend to be cheap and very chic.

     

    Milan:

    Home to what many fashion industry insiders consider the world’s most important fashion district, the Quadrilatero della Moda, Milan gave the world Prada, Versace, Dolce & Gabbana and many more high-fashion brands.

     

    Madrid:

    Madrid ranks third for best prices on luxury items in the Globe Shopper Index. People love it for the glorious sidewalks.

     

    Dubai:

    Dubai is known for glamour and surplus; the shopping here would have anyone spinning. It is the world’s largest mall; Dubai is also home to an indoor ski resort.

     

    Vienna: Vienna has some of the best values in Europe, second on the index for total cost of luxury items.

     

    Buenos Aires:

    Buenos Aires is famous for leather and jewelry and style-obsessed citizens.

     

    Hong Kong:

    “Shopping is one of, if not the, major attraction in Hong Kong. The city ranks highly across most indicators, not least for convenience,” says the Global Shopper Index, which deems Hong Kong the best shopping city in Asia. According to the research, 76% of shopping tourists “expressed above-average satisfaction on value for money in 2011.”

     

    Paris:

    The best shops in Paris sell lifestyles. Whimsical shop Merci stocks designer goods that fall under the category of utterly useless but absolutely irresistible.

     

    Kuala Lumpur:

    Bigger is better in the mind of Kuala Lumpur shopper’s ethics. Three of the world’s 10 largest malls are in Kuala Lumpur, and the number one mall Utama has more than 650 shops, Asia’s largest indoor rock climbing facility and a massive rooftop garden.

     

    London:

    London prices can destroy your will to live. But get over the sticker shock and you’ll see London shopping at its best. Bold, eclectic and international, Liberty department store will inspire you to buy things you never knew existed.

     

    Tokyo:

    The best of Tokyo shopping can be found in the department store. Isetan’s mammoth flagship in Shinjuku has shopping consultants who will advise customers on everything from shoes to fish.

     

    New York:

    Where personal stylists and designer showrooms (and better yet, discounted designer showrooms) abound, New York’s exclusive shopping experiences include curated vintage shopping, fashion history tours and discount mega-department stores.

  • Why tenants are quitting malls

    Why tenants are quitting malls

    About a decade ago when shopping malls made their debut in the country, retailers jostled for the few spaces available. Today, the story has changed as retailers are quitting the malls. Could this have been due to low patronage? Could it have been as a result of stratospheric rise in rent or an attempt to reposition the malls?  TONIA ‘DIYAN asks.

    A few years ago, the former Chief Executive Officer, Broll Nigeria, Mrs Erejuwa Gbadebo, said any start-up eyeing the malls would be on a wild geese chase because raising the funds to do that would be herculean.

    She said: “A young entrepreneur, who wants to start up a business inside any of the malls, may find raising the start-up money difficult. Only big retailers can become tenants in the malls because they can afford the high rent and meet management requirements.”

    Like a prophetess, what she said years ago is playing out as even top brands with the financial war chest are leaving the malls due to some of the challenges she identified.

    The Nation Shopping found out that most of the tenants in these stores no longer generate reasonable rate of returns on such investment and are forced to quit those cozy buildings.

    It is however not a general phenomenon as some tenants continue to report good returns on their investment as the lease renewal factor in some malls say it all.

    Mall owners argue that there is still high demand for retail space as human traffic remains extremely high and sales grow exponentially. They say more and more brands want to move into the few available malls on a daily basis.  According to them, 99 per cent of tenants have renewed their lease agreement in the malls.

    They however argue that the reason for the trend might be to reposition the malls for continuous patronage. They said brands that have left the malls are those that did not meet the needs of the customer on price, variety, type and size of merchandise.

    Ikeja City Mall Marketing Manager, Eniola Ositelu, said most of the tenants that have left the mall used the wrong business model and were not prepared to change the model to conform to the mall’s policy. Thus, they became casualties because their values to the mall with their low sales became unsatisfactory.

    He said: “There have been three other casualties recently and these have been replaced with tenants that are performing extremely well. Tenants such as TM Lewin, V Shop and Melting Moments are doing wonderfully well, meeting all the requirements their clients,” he said.

    The Nation Shopping also found out that the exit of some South African retailers from some malls is solely based on the decision of the management of these malls to restructure the tenant mix and ensure the mall delivers a complete shopping experience to shoppers. Supply chain is said to have become an issue for some foreign retailers, particularly the South African retailers. Mall managements say they have discussed in detail with the retailers but most of them cannot change their business model to suit the Nigerian customer.

    According to mall experts, local tenants also face the same supply chain issues but overcome them with proper planning and proper stock picking.

    Though, there are a few tenants that underperform relating to issues of stock, display, merchandising, size ranges, varieties and so on, others have the best performances in their groups in some instances because they put the right effort and brain work into running their businesses.

    Ositelu told The Nation Shopping that there are strong brands that still trade in the mall. Brands such as Silverbird Cinemas, Mr Price, Da Viva, Mango (clothing outfits) amongst others are still in the mall. He explained that top brands such as  Lacoste, Audacious and Max have recently moved in and have started trading. His words: “Woolworths was the only store to arbitrarily close and that space has been re-let to two international brand clothing and fashion houses (Max and Red Tag)”

    He added that the decision for Truworths and Identity to quit the mall was taken by its management and the space has been re-let to Woodin, a new outfit. “75 per cent of Truworths space has been re-let to a brand that will be announced in due course when the lease is finalized,” he said.

    He said the mall anticipates that the balance of the space will be gone shortly as offers are out to 4 other international brand tenants adding that the mall still attracts the most foot traffic than any other mall in Lagos.

    “At Ikeja City Mall, tenants continue to trade and do well and will continue to do so.  The fact that all tenants who are due for lease renewal this year want to renew their leases is encouraging,” he said.

    Experts have said Nigerian businesses and consumers can and will benefit in due course as the point of the spear which will drive Nigerian retail business into the future is a number of new malls that are under construction or are being planned. Once Nigerians stop going to London to shop for goods and services they could conveniently get in Nigeria, then the first hurdle has been overcome. Devolving regulation on imports would be very good for the retail business. For example, if costs are brought down on electricity by having a steady supply, this will lead to substantial savings for retailers, thus will benefit the consumer.

    Ositelu concluded by saying: “There is a lot more positive news than negative and the smart retailers are taking advantage of this first wave, because they know they will grow retail empires in the years to come.”

    Advising retailers and brand owners, Gbadebo, said: “Owners of these malls look for successful merchants who are ready to convince them that the new store they are about to house has reasonable chance of success and will help the tenant mix.

    “If, as a retailer, you are considering a mall for a first-store venture, your financial backing and merchandising experience must be proven. Some small merchants with good business records and proven understanding of the market have a good chance of being considered by a mall developer. So, if a particular merchant has a good reputation in retailing, it might make a strong case for acceptance into his/her choice mall.”

    Mall experts say before a retailer moves into a mall, it is necessary to ask important questions such as: ‘Are the mall’s shoppers my prospective customers? Would the mall offer the best sales volume potential for my kind of products? Can I produce the appeal that will make customers come to my store? Can I deal with the competition of other stores within the mall? How much space do I need to handle the sales volume I expect to have? Where do I need the space (location within the mal)l?

    South African Norman Sander who works with Broll Nigeria said, for retailers who are prepared to develop a country-specific model and invest in research to support a supply chain, they should get the right stock, provide the best price and render the best services, rather than quit doing business in the country because there’s a bright future here.

    Sander said he has noticed a massive gap in the market for home ware retailers and he advises them to come and do business in Nigeria.

    Having said all these, some merchants say they find full satisfaction as mall tenants and do not intend to quit.  For Moradeke, owner of an accessory store, the drive is the crowd that throngs these malls daily. “Accessory stores make huge sales, especially at weekends and people visit the mall more on weekends; so, I make double the amount I make during the week. Another benefit is the location of these malls. They are very accessible,” she said

    And for Temitope, a cosmetics retailer, the mall is an interactive business-friendly environment. “Sales are better now that I am in a mall,” she said.

     

  • Chi happy hour refreshes with three new variants

    In order to satisfy consumers’ demand beyond the existing offerings, Chi Limited has introduced three new variants of Chi Happy Hour into the market. The variants are Apple Peach Pear, Guava and Kiwi Mint Lime. According to the company, they are just like the existing ones (Tropical, Peach, etc), and are specially blended to guarantee excitement and offer choices to its consumers.

    Unveiling them at the company’s head office in Lagos, the firm assured consumers that each pack of Chi Happy Hour is full of tasty fruitiness guaranteed to keep the consumer refreshed and satisfied. The new variants are sure to offer consumers more choice for refreshment from an engaging brand. Several studies conducted have revealed consumer’s preference for a healthy and refreshing alternative to carbonated soft drinks and the introduction of these variants is clearly based on understanding of the current reality.

    The company’s Managing Director, Mr. Roy Deepanjan said: “We recognise that consumers in the juice category prefer to explore exciting taste and different fruit mix options. We, therefore, arrived at these variants after several consumer studies, and we are quite confident that the taste will be liked by one and all.”

    As one of the fastest growing brands in the fruit Juice category, Chi Happy Hour is available in 1Lit, 500ml & 250ml packs and has become a regular feature at social events. By rolling them out, it is certain that Chi Happy Hour’s control over shelf space will increase and with it, share of the market and the consumer’s mind space.

  • Mr Chef launches 10-in-1 pack of seasoning cubes

    Mr. Chef, one of Nigeria’s preferred food seasonings, has launched a market changing 10-in-1pack of seasoning cubes in response to customers’ demands.

    The introduction of the money-saving initiative was part of the product’s two instant big win incentives announced to distributors and wholesalers at a launch event, which held in Abuja.

    The 10-in-1pack of seasoning is the first of its kind to be introduced by any seasoning producer in Nigeria to answer customers’ demand for convenience, hygiene, quality and affordability.

    Bayswater Industries Ltd., producers of the seasoning,  said the concept was developed from insights gained from customers’ interactions over time, especially in terms of hygiene, quantity and pricing.

    According to its Managing Director, Mr. Piyush Nair, Mr. Chef’s 10-in-1pack seasoning cubes combine hygiene, quality, quantity and convenience with right pricing to demonstrate that cooking could be both inexpensive and a great delight.

    “The cubes are sealed in tamper-proof packs so customers are assured of hygienic packaging because the cubes are not touched by hands before they are sealed in the packs,” he said, adding: “The packaging ensures that the number of cubes is not subject to manipulation by re-sellers.”

    He said unlike current whole packs in the market that may require customers to buy more than they need or packs of 20 cubes that may stretch customers’ budget, Mr. Chef’s 10-in-1 pack, which is sold at N20 per pack, matches the right quantity with the right price.

    “Mr. Chef 10-in-1 pack is an indispensable kitchen companion that gives value for money through a combination of quality, quantity and pricing, which are the reasons we say with Mr. Chef 10-in-1 pack of seasoning cubes, you can make ‘Beta Chop’ at ‘Chikini Money,’”Nair said.

    Abuja, he said, was chosen as the launch venue of the product in order to join in celebrating Nigeria’s 54th Independence anniversary and demonstrate that the nation’s unity must hold regardless of whatever challenges being faced.

    Nair expressed his appreciation to the cosumers of the product,  promising that the brand would remain an indispensable kitchen companion that would continually be in the forefront of spicing their cooking experiences.