NielsenIQ has disclosed that 60 per cent of Nigerian consumers have responded to the country’s high inflation by switching brands in the last year. “It is interesting to note that six out of 10 consumers have switched brands in the last year because of price increases,” the report said. “It is interesting to note that six out of 10 consumers have switched brands in the last year because of price increases,” the report said. “Consumers prefer shopping from online wholesalers as they consider them cheaper and more convenient in locating promotions and discounts. It asserted that store brands were leaving the shelves faster because consumers were getting value for their money by getting the same weighted products for a lower price.

Source: Punch December 27, 2023 15:18 UTC