The Consumer Spending Index

How did consumers spend in 2021? What months had the highest activity and what categories topped the priority list? The REACH Consumer Spending Index answers these questions and also provides 7 Key Takeaways on consumer spending in 2021.

Have You Ever Wondered Where Your Money Truly Goes To?

How did consumers, like you, spend in 2021? What months had the highest activity and what categories topped the priority list? Also, why is it important to know how and where consumers spend?

The REACH Consumer Spending Index for Nigeria gives answers to these questions with so many more added insights.

To really understand how Nigerians spent their monies across 19 different categories, we use four data heuristics to answer the questions above.

Relative Participation Rate

The RPR measures the number of people with transactions in a category divided by the total number of people transacting that month. This gives us an idea of what fraction of the transacting population was active in a category.

Share of Monthly Wallet

As an analytical tool, we assume that all 19 spending categories comprise the typical Nigerian’s wallet. We then look at the share of each category relative to the monthly wallet.

Transaction Activity

This is measured in transactions per month. To identify both typical and noteworthy fluctuations, we calculate the median and the average number of monthly transactions per person in each category.

Transaction Value

This is the total monthly amount spent per person in a category. While the median value captures the typical amount spent on typical transactions in this category, the average is useful for detecting moments that were noteworthy or special in each category


The four data points show us exactly how Nigerians spent money and provided 7 key insights or learnings from the way we spent.

  • Key Takeaway 1: Consumers were more likely to spend at the beginning of the year than at the end.
  • Key Takeaway 2: Q1 was the quietest, but arguably the most valuable quarter of 2021.

To find out about all the other Key Takeaways and what they might mean for your category, visit our shop page to purchase the full report and data table