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| (4th from left) Obi Uzoigwe, Senior Retail Broker - Broll Nigeria. (2nd from right) Moses Luri, Retail Leasing Manager - Broll Ghana |
Earlier this month Obi Uzoigwe, a Senior Retail Broker at Broll Nigeria and Moses Luri, Retail Leasing Manager at Broll Ghana attended the 1st Annual Emerging Markets Retail Summit at the Burj Al Arab in Dubai. The summit was a key event for global retailers interested in Emerging and Growth Economies around South East Asia, Russia, Africa and the Middle East region. It also provided tools to help progressive retailers work efficiently and keep up with the fast changing market place in emerging retail markets such as that in Nigeria.
Obi explained that the event shed light on the skepticism many global luxury brands often face in making an entrance into the Sub-Saharan retail space. Along with the security challenges, many believe that the buying power is simply not there in volumes, despite the large rapidly growing population.
Rising disposable incomes, a growing population and strong fundamentals are among the key drivers for growth within Nigerian retail sector. However, as Obi noted, growth in tenant depth in Nigerian malls remains a notable problem.
Are you interested in Nigeria's retail market? For more information on retail leasing and consulting, shopping center management or anything retail related please contact us on retail@broll.com.ng.
