Retailers are attracting holiday shoppers with irresistible combo deals and exclusive offers.

LAGOS

From household essentials to luxury items, combo packages have become a strategic focus for top brands, promising convenience and value for money during the busy yuletide period.

Retail giants such as Shoprite, SPAR, among others, are unveiling thoughtfully curated bundles that cater to diverse customer needs.

SPAR Nigeria in a viral post said, “We asked, you answered, and we listened. This season, we have created the best gifting options for you to choose from. From Hampers ranging from N20,000 – N350,000, Luxury Perfumes that portray your class, and SPAR Gift Cards you have many ways to spread joy.

“And yes, we are also gifting you amazing discounts of up to 50 percent OFF across various products to show our love and appreciation. Because with SPAR Market, Joy comes already wrapped,” the post read.

On the flip side, Bokkumart offered 21 percent cheaper than open market discounts for 20 products running from December 15 to 21st. These products included: Maryland Cookies Original 138gm, Four Cousins Sweet Red Alcoholic Wine 750ml, and Escape Citrus Zing Body Mist 250ml, among others.

These deals combined complementary products at discounted prices, ensuring customers get more for less. For instance, grocery retailers offer combo packs of holiday staples like turkey, wine, and desserts, while electronics stores pair gadgets like laptops and smartphones with accessories.

“Holiday shopping can be overwhelming, and combo deals simplify the process while helping families save money,” said Sandra Adebayo, marketing manager for a leading retail chain in Lagos. “We want our customers to experience the joy of giving and celebrating without breaking the bank.”

James Praise, founder of Marketing in Action, said combo deals offer a way to move overstocked or low-performing items by pairing them with high-demand products.

“Retailers must carefully price combo deals to strike a balance between enhancing perceived value for customers and maintaining profitability,” he added.

E-commerce platforms are also jumping on the trend, leveraging data-driven insights to design attractive bundles tailored to consumer preferences. For example, Temu, the Chinese e-commerce platform offers products at heavily discounted rates, often starting at less than $1, thanks to the platform’s solid supplier connections and the substantial investment from PDD Holdings.

Shoppers have responded enthusiastically, with many reporting significant savings through these offers. “I purchased a combo deal on Jumia that included a smartphone and a power bank for half the price. It’s a great way to maximise value,” said Adekunle Oseni, a regular online shopper.

Retailers are sparing no effort in promoting these combo deals, launching massive advertising campaigns through social media, email newsletters, and in-store signage. Influencers and celebrities have also been enlisted to spotlight these offers, further driving consumer interest.

Additionally, loyalty programme members are being treated to exclusive pre-sale access and bonus rewards, making the deals even more enticing.

Analysts believe the trend is a strategic response to rising inflation and consumer sensitivity to pricing. By bundling products, retailers can maintain sales volumes while offering customers perceived savings.

“Combo deals are a win-win for retailers and shoppers,” explained Michael Ekpenyong, an economist. “Retailers benefit from increased sales volumes, while customers appreciate the cost savings and convenience.”

Praise, earlier quoted, added that the consumer benefits by perceiving greater value—saving money or receiving more products for the price.

“Retailers gain by increasing sales volume and potentially clearing slower-moving inventory so they can restock new products for the new year and tap into the evolving customer demands of the market,” he said.

Mary Ogunloye, an accountant who works for a top audit firm in Ikoyi, Lagos, had made it an annual ritual to buy gifts and hampers for neighbours and friends at Christmas.

However, Ogunloye has changed this habit due to the high cost of these items. She now thinks of her family alone, complaining that the intensifying cost-of-living crisis has hit her hard.

“I will be sharing a bag of rice with my loved ones this Christmas. I will buy a roll of tomato puree to add to it,” she said, noting that she is cutting down on spending this season owing to inflationary pressures.

“I cannot afford to buy hampers and gift cards again this year as they are very expensive now. I used to buy a hamper at N35,000 last year, but this now sells at N120,000,” she said.

Debora Ayodele, a sales representative at a firm in Ikeja, Lagos, said her family is cutting down on gift items to orphanages this Christmas due to their surging prices. Ayodele said she would not be giving any gifts to her family pastors and neighbours.

“You cannot go to the market with a budget anymore, because prices keep rising daily,” she said. “Things are hard in the country and we cannot afford to give expensive gifts.”

More Nigerians shopping this holiday are treading softly as that they cannot afford to fund their habits due to an accelerating inflation and shrinking wallets.

Since last year, Nigerians have been more cautious and practical about their spending, doing more bargain shopping and buying only essentials.

The headline inflation stood at 34.6 percent in November 2024, with food inflation standing at 39.9 percent, according to the most recent National Bureau of Statistics (NBS) CPI report.

Pay is failing to keep pace with costs in Africa’s most populous nation, with civil servants and low-income households squeezed.

This is amplifying a cost-of-living crisis, hurting citizens’ physical and mental health while exacerbating existing conditions, according to experts.

The World Bank, in its latest Nigeria Development Update report, said sluggish growth and rising inflation in Nigeria have pushed more people into poverty.

The global bank said at least 129 million people (64.5) live below the national poverty line.