Experts Mull Sector Growth at Retail Confab

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Identifying the strengths and challenges of the Nigerian retail environment and pointing them towards a productive retail economy, are some of the focus of the forthcoming retail round table, to be hosted by Bervidson Group.

The programme themed, ‘Building the Appetite for Sustainable Growth’ would feature retail thought and practice leaders who will be exploring the retail sector outlook in Nigeria in 2019.

Nigeria holds a huge opportunity in its retail sector, considering her growing population and fast-growing middle class, yet, the sector performance in the economy has been quite worrisome.

According to Euromonitor, retailing in Nigeria experienced slower growth in 2017 despite an increased value sales.

This trend according to stakeholders is a wake-up call to government to improve the level of physical infrastructure, reduce unemployment and boost GDP per capita to support consumers spending.

Speaking about the event that is billed to come up on January 17, President of Bervidson Group, Joseph Ebata noted the programme was put together to attend to the yearnings and inquisitions of operators in the sector, in light of economic projections.

“Amidst a global retail industry going through a challenging phase that has seen many store closures, the Nigeria retail industry is experiencing a transformation that is shaped and driven by changing consumer preferences, heightened competition from nimble new entrants, a rising e-commerce trends, and dynamic socio-political environment.

“In particular, as the country heads for a general election in 2019 and with political calculations daily shaping the issues in the socio-political space, winning and visionary business owners and leaders cannot afford to stay aloof.

“The programme is designed for enterprise-level leaders – owners, c-level executives and senior managers in retail and retail supporting organisations.

“The focus is to discuss key issues that will shape the development and growth of the Nigeria retail industry and retail businesses in 2019 and beyond,” he said.