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Nigeria Is The Second Fastest Market For Champagne - N41bn Spent - Politics - Nairaland

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Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by eGuerrilla(m): 10:40am On Mar 22, 2013
Nigerians spend N41bn on champagne annually



Nigeria spends an average of N41.41 billion on champagne yearly, according to a report by Euromonitor International.

The report indicates that Nigeria is the second fastest growing market in the world for champagne, noting that between 2006 and 2011, it achieved a compound annual growth of 22 percent.

Total champagne consumption reached 752,879 bottles (75cl) in 2011, higher than consumption in Russia and Mexico; therefore, placing Nigeria among the top 20 champagne markets in the world.

In 2010, Nigeria consumed about 593,000 bottles, the highest consumption in Africa. The closest to this figure was South Africa, another country that has been identified as an emerging market for luxury goods, in addition to Nigeria. South Africa’s champagne consumption was 384,000 bottles in 2010.

“Nigerian champagne consumption is quite big,’’ says Charles Armand de Belenet, global marketing and communications director, at Pernod’s GH Mumm and Perrier Jouet Champagne brands, saying “we are building our network here and it is one of the most attractive places for us at the moment.”

It took the European markets by surprise that Nigeria could rank that high in global champagne consumption. Looking at the list of the markets expected to post the strongest gains in total champagne volumes over 2011-2016, France tops the list followed by United Kingdom. Brazil and China are not missing out so are the United States and the upbeat Australian market.

“However, what did come as a surprise was Nigeria’s second place in these global rankings,” says Spiros Malandrakis, senior alcoholic drinks analyst at Euromonitor International, in a keynote presentation at the 2012 Champagne Assembly held in London.

“And the audience’s disbelief was palpable. No-one challenged the data directly and yet many seemed to politely take it with a grain of salt - if only in the light of the dominant, overoptimistic analytical perspective that sees the European debt-crisis saga coming to a happy ending by the end of 2012. Why bother with Nigeria anyway if Europe was about to start popping bottles again in the immediate future?” he says.

Be that as it may, Nigeria’s place in the global consumer market for champagne may have come to stay. The Rose varietals and vintage have been in demand in Nigeria, hence, analysts believe this will increasingly inform the industry direction in 2013.

A visit to the Tiamiyu Savage office of Ekulo Wine World shows that a bottle of Rose champagne is sold for N77, 000, while Demi-set brand is N55, 000 per bottle. Krug and Crystal brands fall among the most expensive, with a bottle going for N165, 000 and N275, 000, respectively.

It is not only European wine producers that are looking into the Nigerian market, distillers from South Africa are also catching in. Wines of South Africa (WOSA), an association of South Africa’s wine exporters, has also seen Nigeria as a promising market.

“Many of the global luxury brands have entered the Nigerian market,” Su Birch, CEO of WOSA, tells Euromonitor International, “and these include several famous-name spirits, as well as champagne brands whose products are being welcomed by the country’s affluent consumers. We know anecdotally from a number of South African producers that there is a robust appetite for premium wines.”

According to the Euromonitor International data, wine consumption in Nigeria grew from 18.8 million litres in 2006 to 44.3 million litres in 2011. This is expected to increase by 80.4 percent, that is, 79.9 million litres by 2016.

Rasheed Gbadamosi, a former economic adviser, says the Nigerian wine industry can blossom even though grapes are not grown in the country. For him, it is not about production of alcoholic wines, fruit wines can be manufactured locally.

“Grapes are not grown here, but they can be imported. If those distillers can penetrate the Nigerian market then we must begin to look at ourselves rather than what others are doing,” he notes.

Source

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by HNosegbe(m): 10:45am On Mar 22, 2013
*yawns* And Nigeria is the world's third largest market for private jets.

Give me news.

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by Nobody: 10:47am On Mar 22, 2013
Good news for South african wine dealers

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by PapaBrowne(m): 1:35pm On Mar 22, 2013
This country is a crazy country. I have always known that.
My dissertation(project) way back in 2005 was about the underestimation of the Nigerian market and the faulty use of statistics by economic bodies worldwide to downplay the actual size of this massive behemoth called Nigeria.
I remember the look on the faces of my oyinbo professor when I told them that the real size of the Nigerian market and many other emerging markets was lost in the unreported black market which at the time I believed and still believe was and is larger than the open market!!

41 billion naira in Champange! Thats massive for a country we are told 70% live on less than 2 dollars a day!!

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by eGuerrilla(m): 1:56pm On Mar 22, 2013
PapaBrowne: This country is a crazy country. I have always known that.
My dissertation(project) way back in 2005 was about the underestimation of the Nigerian market and the faulty use of statistics by economic bodies worldwide to downplay the actual size of this massive behemoth called Nigeria.
I remember the look on the faces of my oyinbo professor when I told them that the real size of the Nigerian market and many other emerging markets was lost in the unreported black market which at the time I believed and still believe was and is larger than the open market!!

41 billion naira in Champange! Thats massive for a country we are told 70% live on less than 2 dollars a day!!

Ours is indeed a country of many paradoxes.

With an annual drain of 41 billion to external markets, one has to wonder about the amount of patronage going the way of our local champions such as Jacobs Wines

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by Nobody: 2:22pm On Mar 22, 2013
It is funny how some spend unnecessarily, while others can't afford a meagre health bill, school fees, a decent accommodation, 3square meals etc. So unfair. Now, this got me cracked up cheesy 3square meals = 9 meals a day, funny I'm no glutton na cheesy

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by Rossikk(m): 2:33pm On Mar 22, 2013
I thought they said 80% of Nigerians live on less than a dollar a day?

Just goes to show the dubious nature of 'World Bank statistics'.

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by akinalabi(m): 2:57pm On Mar 22, 2013
It is a huge market.

Nigeria is one of the best places you can ever do business in my opinion. The market is so so so so huge. Never seen anything like it before.

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by seunfly: 3:05pm On Mar 22, 2013
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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by seunfly: 3:16pm On Mar 22, 2013
See our leaders stole the nation dry and can't even think of better ways to spend it other than to buy houses everywhere in the world, private jet, buy useless and senseless things and worst things is that they drink the finest european champagne when average hard working and honest citizen is strugling to feed himself.
Rossikk: I thought they said 80% of Nigerians live on less than a dollar a day?

Just goes to show the dubious nature of 'World Bank statistics'.
do you think the market is for average citizen?
Go to 25 state in the federation and sample how many peaple can afford to drink chivita juice let alone champagne.

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by AjanleKoko: 3:19pm On Mar 22, 2013
eGuerrilla:

Ours is indeed a country of many paradoxes.

With an annual drain of 41 billion to external markets, one has to wonder about the amount of patronage going the way of our local champions such as Jacobs Wines

It's not necessarily a paradox. Nigeria is a huge consumer market, that spends a significant amount of its export earnings on importation of consumables. Food (rice), refined fuel, etc. And now champagne. It's not really something to beat our chests about.

In layman terms, Nigeria is like a yuppie that earns a very good wage, but spends a large chunk of it on five-star meals, and other consumables. With no significant assets to show for the huge wages. undecided

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by GotNoBrainsYo: 3:23pm On Mar 22, 2013
Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by Nobody: 4:07pm On Mar 22, 2013
GotNoBrainsYo:
This thread is about wines not gays angry

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by oyb(m): 4:29pm On Mar 22, 2013
roossik, naija economy is booming not so ? tongue tongue

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by Nobody: 5:21pm On Mar 22, 2013
I will still pop some bottles this very night.

Iyalaya anybody cool

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by momodub: 5:23pm On Mar 22, 2013
pop SOMETHIN grin DR SID
Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by dvdon(m): 5:25pm On Mar 22, 2013
*singing* when we celebrate..we dey pop Alomo..we dey pop Alomo..Alomo champagne. Remix. cool

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by kfako1: 5:26pm On Mar 22, 2013
This is because we glorify a life that we can not afford and we generally live a high social life on a daily basis.

I love life but I will never live it like a music video.

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by Nuzo1(m): 5:26pm On Mar 22, 2013
Oyibos drink chanpange when they are celebrating special occasions.

Nigerians drink it for fun and bigboyism.

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by greall1: 5:27pm On Mar 22, 2013
Congrat.
Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by MMM2(m): 5:27pm On Mar 22, 2013
Popping champagne 2 nite tongue

Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by Nobody: 5:27pm On Mar 22, 2013
eGuerrilla:

Source
big lie I no gri, unless na politician them they buy am as for other Nigerians wey I sabi especially Nairalanders, na Alomo Bitters them dey patronize. Alomo dey cure fever, quick Eja.culation,low S.perm count, mortality rate and morbidity rate etc.a trial go make u alomonize ur life 1000% natural no side effect!!!!!!

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by cigaricon(m): 5:28pm On Mar 22, 2013
Rossikk: I thought they said 80% of Nigerians live on less than a dollar a day?

Just goes to show the dubious nature of 'World Bank statistics'.
and you beleive that crap? oh lordamercy
i know there is poverty in Nigeria but 80%?

1 Like

Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by bigx(m): 5:29pm On Mar 22, 2013
seunfly: See our leaders stole the nation dry and can't even think of better ways to spend it other than to buy houses everywhere in the world, private jet, buy useless and senseless things and worst things is that they drink the finest european champagne when average hard working and honest citizen is strugling to feed himself.


Meanwhile smart people are thinking of how to import the champagne and take a share of that 41 billion,
shows why there would always be rich and poor

and mind you, I am neither a leader nor a politician but I have champagne when I go clubbing.

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by RedLight1: 5:30pm On Mar 22, 2013
Rossikk: I thought they said 80% of Nigerians live on less than a dollar a day?

Just goes to show the dubious nature of 'World Bank statistics'.
abi o.... Its not the fault of world bank but the fault of those that believe those rubbish stats

1 Like

Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by gbosaa(m): 5:31pm On Mar 22, 2013
This is not good news,....kai kai,shekpe and once revered schnapps will soon go extinct..good news alomo is gaining patronage.
Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by Imanuelle(m): 5:31pm On Mar 22, 2013
What are we celebrating?
Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by HNosegbe(m): 5:31pm On Mar 22, 2013
Nuzo':
Oyibos drink chanpange when they are celebrating special occasions.

Nigerians drink it for fun and bigboyism.

A clear example of the extravagant, exhibitionist attitude of many Africans, one that gets me seething with rage.

3 Likes

Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by samkoro: 5:32pm On Mar 22, 2013
Rubbish! Nonsense ! Its absolutely nothing to be proud of.

Nigeria should rather aspire to be the fastest growing manufacturers of champagne.

1 Like

Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by PapaBrowne(m): 5:32pm On Mar 22, 2013
seunfly: See our leaders stole the nation dry and can't even think of better ways to spend it other than to buy houses everywhere in the world, private jet, buy useless and senseless things and worst things is that they drink the finest european champagne when average hard working and honest citizen is strugling to feed himself.

do you think the market is for average citizen?
Go to 25 state of the federation and sample how many peaple can afford to drink chivita juice let alone champagne.


You think politicians drank 725,000 bottles of champagne and they still have the normalcy to steal your money!! No bro, they'll be dead drunk anytime they go to the vaults.
Its average citizens that do the drinking! Telecom and IT workers, Small business owners,Bankers,Oil & Gas owners and yes Recharge Card Sellers et al! I have friends who dont earn way too much but drink hewnnessey anytime thier team wins a march!on their birthdays!! Its cultural!! We love fly in this country and that helps us get high figures when it comes to crazy stuff like this!

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Re: Nigeria Is The Second Fastest Market For Champagne - N41bn Spent by obowunmi(m): 5:33pm On Mar 22, 2013
Diabetes, cancer, and kidney failure are killing loads of Nigerians. Drink at your own risk in that HEAT. wink wink

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