Nigeria’s Retail Real Estate Sector Adapts to Changing Consumer Behaviours

Nigeria’s retail real estate sector is evolving in response to changing consumer behaviours and economic realities. While large-scale shopping malls continue to be developed in major cities, there’s a growing trend towards smaller, neighbourhood-focused retail centres. These developments cater to the rising demand for convenience and reflect the challenges faced by some larger malls in attracting and retaining tenants. E-commerce growth is also influencing the retail landscape, with some developers incorporating fulfilment centres and pick-up points into their projects. The COVID-19 pandemic has accelerated these trends, prompting retailers and landlords to adapt their strategies. Industry analysts predict a hybrid model combining physical and digital retail experiences will dominate Nigeria’s future retail real estate landscape.