BARELY three years ago, the far-reaching impact of recession on retail spending and consequently retail mall developments saw a shift towards smaller sized malls, as the numbers for developing large outlets were increasingly difficult to justify. Places where such development was hugely in demand included Ikeja, Surulere, Yaba and Lekki as SMEs went shopping for retail space. In exchange, their brand power would be influential in attracting lesser-known brands that would not have taken up space otherwise. The mall, apart from rendering quality items, provides for equipment that befits such multi-million naira investment. Online retail is also growing as an estimated significant Nigerians access the Internet.

Source: Nigerian Tribune April 18, 2018 01:41 UTC