The best shopping malls to open a boutique in Nigeria
The best malls to open a boutique in Nigeria are those located in urban settings. They are malls that are located in exclusive areas with a large middle and upper class population who can afford to buy branded designer clothes, shoes and bags, which can be sold at a premium price.
Another advantage of locating your store in an affluent area is that shoppers who frequent your business will be familiar with the brands you can sell at a high margin relative to your costs. Because this is a very fashion-conscious society, there is a very strong demand for very fashionable clothing and footwear.
The following are the best shopping malls in Nigeria:
1. The Las Palmas Shopping Center. The Palms, located in Lekki, is the oldest and largest premium shopping mall in Nigeria. It has become a retail phenomenon as it is not only built to Western standards, but has also introduced many of the shopping experiences found in the United States and throughout Europe for the first time to this corner of Africa. Well-known South African retailers such as Game, Shoprite and Nu Metro rented commercial space in this shopping mecca, helping to attract even more customers to the centre. While rents reflect expected foot traffic, the benefits of being neighbors to these chain stores can be very lucrative.
2.Ikeja shopping mall. Ikeja has set itself apart from the competition by developing a very strong and popular entertainment center. While it also offers a wide range of luxury stores, its entertainment offerings attract shoppers of a wide range of ages to its retail tenants. By locating your store on your premises, you can capitalize on your wide range of customers by offering brand name products for all ages.
3.Ceddi Plaza. The Ceddi Plaza is located in the capital, Abuja. The mall developers have taken a different approach than the previous two malls. Instead of just focusing on commercial tenants, they have developed office spaces geared toward professional firms. The fact that there are office workers working on their premises makes this mall a go-to for Nigerian retailers who wholesale professional work suits and dresses. Plus, its high-class champagne lounge attracts business people looking for a convenient place to meet and celebrate their accomplishments. These entrepreneurs can be high-end buyers, as they have the purchasing power that can support a high-end clothing or shoe boutique.