Top 10 fast moving consumer goods in Nigeria that you can start selling and be making money
Once you’ve got decided to open the own store subsequent question you’ve got is what to sell. Perhaps, you have already got something in mind, but if you’re unsure what to start out with, this text is for you. Top 10 fast paced commodity in Nigeria are analysed right here.
1. Household appliances and mobile devices
In terms of electronics, Nigerians most frequently buy:
– tablet computers;
– vacuum cleaners;
– hair dryers;
– meat grinders;
– electric razors;
– digital cameras;
– media players;
– car tape recorders;
– GPS-navigators and therefore the likes.
The problem is that there’s an enormous competition during this market, so you’ve got to figure hard to succeed.
2. Food in supermarkets
The most popular are bakery, dairy products, pasta, cereals, meat, sausages, fish, seafood, vegetables, and fruits. People will always have an interest in food. it’s needed for sustenance.
3. Semi-finished products
We also had to incorporate semi-finished food into the list of fast paced commodity in Nigeria. people that want to save lots of money on food will always consider alternatives. you’ll offer to deliver homemade food or buy semi-finished gourmet dishes which will be cooked reception .
4. Farm production
Farm produce also are among the high demand products in Nigeria. this is often not only thanks to their quality but also as a results of economic conditions. they’re cheaper than imported products. Therefore, if you’re thinking over the question of which products are most fast paced , you’ll sell:
5. Clothes and footwear
Everyone wants to seem good, even in economic downturn. Periodically, people have a requirement to feature new clothes to their wardrobe. Of course, not everyone can afford fashionable and expensive attires. But cheap clothing, shoes, and accessories will surely always get on the list of commodity of high demand within the Nigerian market.
It is sensible to open second-hand stores with used but high-quality clothes and shoes from little-known manufacturers. Despite the high competition during this industry, a novice entrepreneur will always find his/her place. an alternate option for second-hand is that the resale of commodity in commission shop.
6. Personal hygiene and cosmetics
Among the fast selling products in Nigeria, there are hygiene items, sanitary tools for cleaning the house, and cosmetics at low prices:
– toothpaste and brushes;
– deodorants and antiperspirants;
– detergents for dishes;
– washing powder;
– cream for skin care then on.
If you would like to profit during this category, offer remedies that combine two functions. for instance , people will buy shampoo with conditioner or a cream which will be applied on the hands and on the face so as to save lots of money.
Medications also are a matter necessity. you’ll open a personal chemist shop with a narrow specialization. People will always buy them because nobody is resistant to a chilly and headache.
It is, of course, important to review the list of competing companies that are involved within the manufacture of medicines. After all, there are many unscrupulous companies that aren’t responsible when it involves the assembly of medicines.
These days, the delivery of beverage is experiencing a sort of “boom” and consistent with experts, this trend will continue. Nowadays, water (drinking and mineral) is one among the fastest growing markets: annually the price of this area increases by 30-40%.
Drinking water may be a quite “fuel” within the hands of suppliers and that they can provide for corporate and individual use.
The approximate rate of consumption of drinking water within the office is 0.5 liters per person during a day or about 10 liters per month. this suggests , supplying ordinary beverage to just one office with 50 employees can bring you high annual revenue. And this is often not taking under consideration the income from renting equipment for water consumption.
9. Products for teenagers
Baby products are always a profitable business. As you recognize , people can save on themselves, but they never skimp when it involves their children. All grandmothers, grandfathers, dads, and mothers attempt to make the youngsters happy by buying new toys, clothes, hygiene products, cosmetics, strollers and accessories.
Experts advise that it’s better to limit oneself to many categories, but offer a minimum of ten options in each. So it’ll be easier to update on your site without having too many unsold items.
A new store owner can’t buy products directly from producers due to the limitation of the lower lot size (the minimum purchase from well-known clothing brands are often between 10-12 thousand dollars). Therefore it’s better to figure with dealers.
Great demand and large profits usually means high competition. Before opening the shop , you would like to guage the market situation, check out the assortment, price policy of comparable companies and highlight the most ways you’ll stand out.
If you reside during a big city you ought to believe choosing a narrow niche, for instance , selling only soft or educational toys, etc. If you’re during a village you’ll expand a touch since people are wont to buy all kinds of products for teenagers in one store.
10. Computers and accessories
Modern people cannot imagine life without technology. Now every family has one, two or maybe three laptops. Many are able to spend money on very expensive but powerful personal computers. What does this mean? It shows that everything connected with modern computer technologies can bring an honest income. But tons of cash is required so as to hitch the pc business.
In addition, communication with prospective partners is more important than ever to realize success during this area.
Since it’s unlikely that you simply are going to be ready to compete with major brands you’ll need to entice the clients with better service and narrow specialization. this will include the delivery and installation of computers reception . additionally , it might be good to arrange a free customer support information service.
Now you recognize which products are the foremost demanded in Nigeria. With the specified efforts, you’re bound to succeed!