Editorial
Consumers’ spend and confidence has continued to dip due to recent economic realities in Nigeria;
leaving brands to fight hard wars for their shrinking wallets.
Manufacturers today are faced with the difficult task of maintaining or reducing cost when every raw
material used in production has increased. The real issue here is that the 2016 budgets for many
manufacturing companies (especially those that are mostly import dependent) in Nigeria were not done
while factoring the current scenario in terms of the customs ban, unstable exchange rate and high
inflation. However, at the bottom of the rung is the consumer whose take home hasn’t increased with
inflation gradually approaching 18%.
To win in this tough situation, manufacturers are strategically managing brands’ quality and quantity
without undermining both from the consumers’ context in order to find the balance between cost and
price. Hence they engage in extensive market research while sustaining or Increasing the tempo on
communication.
This second edition of BrandSpur NG, not only shows the brands that are ‘loud in their talking’ across
categories, it also puts together a spectrum of news about happenings in the business and consumer
markets. It reveals the direction brands are adopting to stay afloat in this sinking time, prices of
commodities, the impact of celebrity endorsement on brands as well as the potential of charcoal among
others for your reading pleasure.
BrandSpur Ng’s aim is to spur you into action with this edition.
Enjoy and do not forget to let us have your feedback via [email protected]
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Danke!!!