Here is their interesting report on the spending habits of Nigerians……….
Nigeria
Nigeria’s oil industry is boosting the pockets of an affluent elite who are increasingly coming to London to spend that cash. In February last year, sales to Nigerians were up 50 per cent in London shops on a year earlier, while overall in 2011 Selfridges says their spending was up by over a quarter and that Nigerians have been among its top 10 overseas shoppers for the past five years.
On their shopping lists: Suits and formal wear but also jewellery, cosmetics and childrenswear.
Labels include Paul Smith, Gucci, Prada, Chanel and Rolex while Vertu phones are a popular purchase. Although they trust established brands, they are also happy to buy across the price spectrum – hence Debenhams started putting signs up in Hausa, the language spoken by 45 million West Africans.
Their top time to shop: all year round – a consistent presence in our stores.
Average transaction in the West End: £1,648
Most of the Governor’s children are in London, Former Governor Peter Odili is still undergoing money laundry case after he was caught with over 60M Pounds in cash at the airport, former Bayelsa state governor (Alameisiga) has a pending case too, so no suprise Nigerians spend an average of 2k pounds on each transaction in London
