Seyi Adeoye, MD of Pierrine Consulting.
As businesses struggle to survive amid growing uncertainties in the nation’s economy, business leaders and managers have been urged to rethink their value propositions and adapt to the changing expectations of a more discerning consumer base.
Oluseyi Adeoye, chief executive officer, Pierrine Consulting, gave this advice at an executive business roundtable for business leaders organised by his firm recently in Lagos.
The exclusive session brought together top business leaders from across various industries to engage in high-level discussions on the evolving state of the Nigerian economy and consumer behavior, with a view to set the strategic context for 2025.
Adeoye, while analysing a key finding from the Consumer Sentiments Report presented during the roundtable, said the report clearly indicated that while consumer incomes were on the rise, there was a palpable shift towards quality and value in spending.
He stressed that it had therefore become imperative for businesses to stay ahead in terms of strategies if they must sustain patronage and business growth.
Earlier in his keynote address, Doyin Salami, an economics professor, also emphasised that businesses must recalibrate their strategies to continue to grow incomes in Nigeria’s tightening and rapidly changing economic landscape.
Giving incisive observations on the economy and providing attendees with actionable insights, Salami noted that while income was growing across board, growth was concentrated at the top.
He therefore said it was critical that businesses continuously retune their methods for sustainable income growth in the light of shifting income distributions.
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“Every business must not only understand where they make their incomes from; they must also understand where their consumers get their own incomes from, to grasp the industries that will impact their consumers’ spending power,” he said.
Speaking on the strategic importance of the business roundtable, Oluseyi Adeoye, Pierrine Consulting’s chief executive officer, said his firm brought together the select group of top business leaders to analyse recent insights and the business outlook for 2025.
Adeoye said the essence was to foster a collaborative environment where industry peers could build context and share strategies that would drive sustainable growth.
“This event reinforces our commitment to thought leadership and positions us as a trusted strategic partner in today’s dynamic market,” Adeoye noted.
In his assessment of the immediate impact of the roundtable, Tobi Adeojo, senior manager at Pierrine Consulting, noted that the event not only delivered robust strategic insights but provided an exclusive networking platform, sparking meaningful conversations and forging new partnerships among the nation’s leading business figures.
“As Nigeria braces for further economic shifts, the insights shared at this roundtable are set to guide businesses in navigating the complexities of consumer trends and market dynamics well into 2025 and beyond,” Adeojo stressed.
