By Geraldine Onyenweaku
Hurray!!! It is that time of the year again, when we throw all caution to the wind, and allow ourselves to slip into the holiday mood. All around you, you hear the bells chiming, with our favourite songs of the season in the air; jingle bells etc. Even the weather isn’t left out, with its cold hazy mornings, never fails to remind us that it is that time of the year again. The general gait and spring in people’s steps and the happy, expectant look on their faces is unmistakable.
For many of us, we want to just get out there and engage in the occasional splurge on gifts for ourselves, family and friends, despite the fact that most will be working within tight budgets.
Here, in Nigeria, almost 80% of purchases in the week leading up to Christmas are made in the stores. Very few, however, make their purchases on-line. This is because the few I have interviewed who made purchases on line didn’t have good stories to tell. In most cases, they were either given the wrong item or they found out much later that the item is faulty or wasn’t what was expected. More often than not it is delivered late. So, the brick- and- mortar still holds a lot of attraction for buyers’ especially young ones, who want to ask questions, get professional advice from sale attendants, and have a feel and try out what they want. So, the human touch still counts a great deal. Consequently, the departmental stores will be out doing themselves in the stock of goods on display in their shelves and the attractive manner in which they will be arranged, all in a bid to get consumers’ attention. Also, the sales persons will be at their very best.
Some, though, looking to save money, have done their shopping as early as October in order to avoid the price hike attendant to goods when it is close to Christmas. For late shoppers who really do not care much about the slight hike in price, but are more interested in the array of goods that will be on display, they wait till very close to Christmas to do their shopping.
So, what kinds of goods will consumers’ go for this season? Mostly edibles, such as rice, chicken, turkey, vegetable oil etc. Other goods that buyers’ will be spending on are; apparels, toys, gifts, electronics and other household items. Kids are most likely to buzz on toys mostly, while the younger generation between the ages of 16-25 will go for clothes. The much older generation will most likely opt for items for philanthropy.
Everyone wants to give their children a Christmas to remember but finding the money to do so is not always easy with the pressures on family finances.
Retailers must remember that Christmas is often a financially stressful time for many spenders, and they’re going to go for the best savings, even if it means avoiding the Christmas cheer of ‘last-minute’ festive shopping trips to do it.
So it’s time for all retailers great and small, and online and in-store to ensure they engage with consumers over the earlier Christmas shopping trend and introduce saving based deals as the Christmas season approaches.
Apparels and food items will be the most popular gift categories.
When it comes to what people are planning to buy, the holiday spending forecast shows clothing on top, with almost 2/3 of all respondents planning to buy some of each. Food items will likely account for 40%of planned spending per person, and clothing another 25%.
So how will toys fare? Kids can rejoice. Toys came in third across both cumulative and individual spending among the well to do, with 20% of all respondents planning to purchase toys. Of that group, toys will account for 15% of each person’s spending.
As much as major department stores like Spar, Shopright, Domino stores etc. and others are adequately prepared for good sales, the high street sellers are leaving no stone unturned. Besides the convenience of shopping that the department stores offer, they will be required to do much more if they are to compete effectively with the high -street .
Border Closure
The border closure will of course have its impact on the Christmas this year. Many will have to make do with the Nigerian made goods, which may be in short supply, thus pushing up prices. Those who can afford it will still go ahead to have a good holiday. Nigerians always out to have fun, will still enjoy themselves regardless.