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 (RPR): tells us what percentage of the transacting population had a transaction during a certain period in each of our 19 categories.
- Share of Monthly Wallet: shows how consumers prioritize the different categories every month.
- Transaction Activity: tells you the frequency of consumer spending in all categories in 2021.
- Transaction Value: tells you what categories consumers spent the most money on in 2021.
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 tables.