Walking through most of the aisles usually separating the long shelves in many of Nigeria’s popular shopping outlets – Jendor, Justrite, Spar, Ebeano or Market Square – you can feel the pulse of the market. There you are likely to meet a C-suite executive who earns #2 million per month and a wary housewife whose income falls within the #70, 000 national minimum wage walking the same lane, browsing similar products, similar checking labels to select a bargain price.
The long stretch differentiating their incomes hardly matters here. Whether the products offering the most affordable prices are private labels or well-established brands hardly bothers them too. So long as those products are displayed on the shelves of a reputable outlet, they are genuine.
Her shopping cart full, by the time the C-suite executive finally gets through the check-out counters, she heaves a sigh of relief. Perhaps, delighted that her budget is still intact. She has been exposed to an array of product choices that present her with ample selection offerings.
The wary housewife gets her stuff through the same path. Her basket isn’t as full. She couldn’t purchase as much as she would like owing to her meagre income and price inflation these days. Yet, she seems grateful to have found a place where income levels don’t discriminate against shoppers, a place where she can walk the same aisle, browse the same product labels as the ‘big madam’ banker or manager.
Everyone is seeking a bargain at this period. Everyone goes where the prices are friendly. Outlets understand the trend. They align. They push out less competitive brand products. Shedding a few hundred naira from the cost of a product offers delight to both big-earning and low-earning shoppers. It is the market of the bargain-seekers.
The economy has taught every Nigerian to become a smart shopper. If you are an entrepreneur who manufactures or distributes a product or sells services, the level of your product brand strength is critical at this time.
Across segments, new brands emerge daily, while established businesses continually innovate to retain customer loyalty. In such an environment, brand strength is no longer defined by having an attractive logo or a catchy slogan. A strong brand is built on trust, consistency, customer experience, and the ability to deliver value over time. Businesses that invest in these fundamentals are more likely to achieve sustainable growth, regardless of industry
Precisely, your product brand strength is its ability to compete on the shelves against brands in a similar category. To understand your brand strength, you need to ask questions such as how many of your products are mandatory for the trade due to assets such as mindshare, perceived category leadership and value consideration. Product brands that lack strong competitive strength at this period may drop off the priority lists of the stiff, bargain-hunting shoppers, notwithstanding the socioeconomic class the shoppers belong to, as seen in the scenario described earlier.
Therefore, it is critical to prioritise building your product brand strength to avoid being ‘muscled out’ of the shelves by stronger category competitors. Amongst others, here are four steps you can prioritise to strengthen your product brand competitiveness:
- Deliver Consistent, Affordable Quality – One of the fastest ways to weaken a brand is inconsistency and a pricing strategy that pushes the product beyond shoppers’ reach. Customers expect products and services to meet the same standard every time they make a purchase. Consistency should be reflected in product quality, customer service and a pricing structure that adapts to market expectations. Businesses that consistently meet customer expectations will build trust, and trust remains one of the strongest drivers of repeat business and referrals.
- Build a Strong Community Around Your Brand – Consumers increasingly want to connect with brands that share their values and encourage meaningful engagement. Businesses can foster community by hosting events and webinars, encouraging customer feedback, creating online communities, supporting local initiatives and showcasing customer success stories. A loyal community often becomes a brand’s most effective marketing channel through word-of-mouth recommendations and user-generated content.
- Embrace Innovation – Nigeria’s business landscape evolves rapidly. Consumer expectations, technology, and market conditions continue to change. Brands that remain innovative are more likely to stay relevant. Innovation does not always require groundbreaking inventions. It can involve improving customer service, introducing new products, streamlining operations, enhancing digital experiences and adopting emerging technologies. Businesses that continuously improve demonstrate responsiveness to changing customer needs.
- Measure Brand Performance – Building a strong brand requires continuous evaluation. Businesses should regularly assess how customers perceive their brand and identify opportunities for improvement. Useful performance indicators include customer satisfaction, brand awareness, customer retention, Net Promoter Score (NPS), Social media engagement, Website traffic, and conversion rates. Data-driven decisions help businesses refine their strategies and maximise marketing investments.
