NIMN, LBS Unveil Report on Changing Consumer Behaviour
The National Institute of Marketing of Nigeria (NIMN), in partnership with Lagos Business School (LBS), has launched a comprehensive consumer insight report designed to equip businesses with data-driven intelligence on Nigeria's rapidly evolving consumer landscape.
The report, titled "The New Rules of Relevance: Community, Culture and Connection – Re-imagining the New Market," provides marketers and business leaders with evidence-based insights into changing consumer expectations, purchasing behaviour and the factors shaping brand loyalty in today's marketplace.
Speaking at the unveiling, the President and Chairman of Council of NIMN, Dr. Bolajoko Bayo-Ajayi, said the study was developed to help organisations move beyond traditional marketing approaches by gaining a deeper understanding of what drives modern consumers.
She explained that the report was informed by nationwide consumer surveys, focus group discussions with marketing professionals and in-depth interviews, providing perspectives from both consumers and industry practitioners.
According to her, today's consumers are no longer satisfied with transactional relationships but increasingly seek authenticity, trust and meaningful engagement from brands.
"Organisations must move beyond traditional marketing strategies. Today's consumers are looking for relevance, trust and genuine relationships with brands rather than simply buying products. Marketers need to step outside their own world and understand what people are saying in the marketplace," she said.
Bayo-Ajayi noted that consumers now expect to be involved in conversations from the outset, making it imperative for brands to listen more intentionally and respond to evolving expectations.
She described the report as a practical framework that marketing professionals can leverage to make informed business decisions, improve customer engagement and strengthen organisational performance.
"The marketing landscape has changed and continues to evolve. As an Institute, we have a responsibility to provide thought leadership because you cannot lead what you do not understand. This report is intended to help practitioners understand consumers better and translate those insights into effective marketing strategies," she said.
She added that the collaboration between NIMN and Lagos Business School reinforces the bridge between academia and industry, ensuring that marketing education and practice remain aligned with current market realities.
Also speaking, the Deputy Vice-Chancellor (Academic) of Pan-Atlantic University, Professor Uchenna Uzo, described the report as a timely call for organisations to rethink how they build and sustain customer relationships.
He said the research, which involved more than 300 respondents comprising consumers, companies and brands across Nigeria's six geopolitical zones, revealed that customer loyalty is increasingly influenced by experience, consistency, trust and community recommendations rather than price alone.
"The customer has moved on," Uzo said. "Consumers are asking deeper questions about value, and businesses must understand what value truly means to their target audience if they hope to sustain loyalty."
He stressed that organisations that consistently deliver quality experiences across locations and over time are more likely to retain customers in an increasingly competitive marketplace.
According to him, the report provides organisations with actionable insights that can help them better understand consumer behaviour, strengthen customer relationships and make more informed strategic decisions in a rapidly changing business environment.
The report forms part of NIMN's ongoing efforts to advance marketing thought leadership and provide professionals with practical tools for navigating the changing dynamics of Nigeria's consumer economy.
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