With the year nearing its end, Nigerians are gearing up for the festive season, a time of celebration, reflection, and generosity.
From food and drinks to travel and holiday decorations, the season presents an opportunity for businesses to thrive as consumers shop to their hearts’ content.
This holiday season, spending patterns reflect the evolving priorities of Nigerians amidst current economic realities, with a blend of traditional essentials and modern trends taking centre stage.
Here’s a closer look at what Nigerians are buying and why it matters.
Food and Drinks
Unsurprisingly, food and drinks dominate the shopping list. Staples like rice, tomatoes, groundnut oil, and chicken are in high demand as families and organisations host end-of-year parties.
Drinks, both alcoholic and non-alcoholic, complement these meals, especially as the harmattan season heightens the need for hydration.
“Nigerians know how to celebrate, and food is at the heart of it. Despite rising costs, families prioritise festive meals to ensure a memorable season,” said Sarah Johnson, a food vendor in Lagos.
Similarly, a Lagos teacher, Adebayo Aderonke, expressed concern over the soaring prices of foodstuffs during the festive period, calling on authorities to intervene and regulate prices to make essential items more affordable for all Nigerians.
“Foodstuffs are incredibly costly this period, and the price gap is far too wide compared to previous years,” Aderonke told PUNCH Online.
“The concerned authorities should rise to this challenge and moderate prices before Christmas so that everyone, including the rich, the average, and the poor Nigerians, can afford good food to enjoy the season and beyond.”
Her appeal highlights the growing financial strain on households as they prepare for the holidays amidst Nigeria’s economic challenges.
Clothing and Accessories
New clothes, shoes, and accessories are staples for Nigerians during the holidays. The season is an opportunity to refresh wardrobes and gift loved ones. Parents, especially, prioritise buying new outfits for their children as a symbol of love and celebration.
“End-of-year is the perfect time to indulge in a little self-care. Whether it’s a trendy outfit or a classic accessory, it’s about looking and feeling good for the holidays,” said Akinola Olusesan, a fashion retailer in Ibadan.
Household Goods and Appliances
The holiday season is also a time for home upgrades. From kitchenware to small appliances, Nigerians take advantage of year-end sales to replace old items and prepare their homes for the new year.
Beauty and Personal Care
With concerts, parties, and social gatherings on the rise, spending on beauty products like makeup, skincare items, and spa treatments has become a priority for many Nigerians during the festive season. The desire to look their best while ushering in the new year remains a strong motivator for holiday shoppers.
However, the national economic hardship has significantly impacted the beauty and personal care industry.
According to Temileyi Yetunde, CEO of Temmy Skin Care Beauty Empire in Ibadan, the ongoing patronage is largely sustained by annual promotional initiatives on products and services.
“This is our business season, but the patronage is lower than what we used to have in the recent past,” Temileyi told PUNCH Online.
“We are experiencing slow patronage due to the economy, but we’re staying afloat by offering promos and discounts on our products and services.”
Temileyi also highlighted the sharp increase in material costs, which has strained business operations.
“The price of materials is skyrocketing. Some beauty materials we bought for N10,000 last year have gone up as high as N40,000 and above. This price difference is outrageous and challenging for us to remain in business,” she explained.
Despite these challenges, the festive season continues to create demand for beauty and personal care products, underscoring their importance in Nigeria’s holiday culture.
Travel
The holidays are a peak travel period, with families reuniting across the country. This has boosted demand for transportation services and travel accessories, including luggage.
Consumer Electronics
The festive season, particularly during Black Friday and pre-Christmas sales, offers significant discounts on electronics, making it a popular time for purchasing phones, laptops, and other gadgets.
However, according to Michael Obinani, MD/CEO of Show ICT Computers and an electronics dealer in Lagos, the demand for electronics during the festive period is not as high as during other times.
Speaking to PUNCH Online in a telephone interview, Obinani said, “The electronics market, especially laptops, typically picks up during students’ and workers’ resumption periods or when people move into new apartments. The sales are generally slow at this time unless there’s a specific event driving demand, not just the festive season.”
To address this challenge, Obinani explained that his business takes a proactive approach to reach customers. “From Lagos, we even go as far as villages to market our products and services,” he added.
While festive discounts remain a draw, the electronics market appears more influenced by functional needs than holiday spending alone.
Furniture and Renovations
For many, the end-of-year period is about preparing for the future. Upgrading furniture or making home improvements symbolises a fresh start for the year ahead.
Other Popular Purchases
Toys: A must-have for children, toys bring joy and are among the most gifted items during Christmas.
Gift Baskets and Hampers: Often filled with assorted goodies, hampers remain a popular way to show appreciation to loved ones and colleagues.
Christmas Decorations: Lights, trees, and ornaments create the festive ambience Nigerians love, while fireworks and sparklers add excitement for children.
Souvenirs and Personalised Gifts: From branded mugs to towels, souvenirs are common tokens of appreciation shared during parties and events.
The Shift Toward Online Shopping
While traditional shopping still dominates, online platforms are gaining traction. Techuncode’s report highlights a steady annual increase in online shopping, driven by convenience and a broader selection of goods. Businesses are increasingly leveraging social media and e-commerce platforms to reach consumers.
“Online shopping has made it easier to plan for the holidays. I can order everything I need without leaving my house,” said Chinedu Eze, a civil servant in Abuja.
Conclusion
Despite economic challenges like inflation and rising living costs, Nigerians remain resilient, ensuring the holiday spirit is alive. For entrepreneurs, the season is ripe with opportunities to cater to these demands and provide value to consumers.
Whether it’s food, clothing, travel, or gifts, the end-of-year holiday season is a time for celebration and generosity. With careful planning and a touch of creativity, both consumers and businesses can make the most of this festive period.