Millennials and Gen Z in Ivory Coast dominate mobile phone use, while a digital divide impacts home internet access
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In Ivory Coast, millennials and Gen Z are the most common mobile phone users, while home internet access is impacted by the digital divide.
In May 2024, Kasi Insight's survey across 21 African markets revealed key consumer spending behaviors in Ivory Coast. Notably, 40% of respondents spend 46-60% of household income on essentials, with Millennials (44%) and Gen Z (27%) leading. Mobile services are used by 88% of respondents, but internet access shows a digital divide: 70% high-income vs. 31% low-income. Key factors in choosing providers are internet speed (61% Millennials) and reliability (53% Gen Z). Read more
Ethiopia's Economic Reforms: Navigating a New Landscape
Ethiopia's economic reforms, including a 30% devaluation of the birr and a shift to a market-driven exchange rate system, aim to attract foreign investment and boost exports. These changes are crucial for securing international financial support and stabilizing the economy. While short-term challenges like inflation may arise, the long-term benefits include enhanced economic stability and growth opportunities. Stay informed with expert insights to navigate these shifts and capitalize on emerging opportunities in Ethiopia's evolving market. Read more
Kenyan Youth Prioritize Essential Spending: Unlocking Market Opportunities in a Dynamic Economy
In May 2024, Kasi Insight's survey across 21 African markets highlighted Kenyan youth's spending priorities. Gen Z and Millennials allocate most of their budgets to essentials: rent/mortgage (82%), transport (81%), and food (76%). Utilities also see significant spending. Key purchasing factors include affordability, quality, and convenience. Brands should focus on providing competitively priced, high-quality products and seamless purchasing experiences. Emphasize these aspects in marketing to engage this demographic effectively, leveraging their practical approach to financial management. Read more
The Power of Transactional and Behavioral Data in Africa's Retail
In Africa's retail landscape, leveraging both transactional and behavioral data is key to understanding consumer behavior. While transactional data records sales, behavioral data captures deeper consumer actions and motivations, offering insights beyond purchases. With Africa's unique mix of formal and informal markets, relying solely on transactional data can be limiting. Retailers can benefit from integrating behavioral data, such as digital footprints and mobile money transactions, to optimize marketing, inventory management, and customer loyalty programs. Kasi Insight's monthly surveys provide crucial data to guide strategic decisions and foster growth in this dynamic market.? Read more
June Decline in Consumer Confidence: What It Means for Your Business
In June 2024, consumer confidence in Africa fell for the third consecutive month, dropping five points. This decline reflects worsening economic conditions, with significant decreases in the discretionary spending index (-7 points) and household spending index (-20 points). Despite slight improvements in household income and personal finance indices, overall sentiment remains low, particularly in South Africa, which saw a 52-point drop.Conversely, Tanzania experienced a 19-point increase in consumer confidence due to recent economic reforms. Brands should focus on value-driven marketing, emphasizing affordability and necessity. Tailored strategies are essential for regions with varying consumer sentiment. Read more https://kasiinsight.com/posts/consumer-confidence-plunges-an-additional-five-points-in-june/
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Understanding Consumer Preferences in Senegal: Key to win the Uncertain Economy
Senegalese consumers' top monthly purchases: staple grains (74%), meat/fish (73%), and bread/rolls (71%). Affordability (69%) and quality (61%) are key factors. Brands should diversify offerings, align pricing with budgets, and tailor marketing to different demographics. Read more
Travelers in Algeria who consider Africa as a destination look for safety and friendliness
80% of Algerians are eager to travel abroad, with safety (65%) and friendliness (45%) as top priorities. Kenya is their most preferred African destination. Travel brands can leverage these insights to attract more Algerian tourists. Read more
Seeking to Understand the Cost of Living Across Africa??
At Kasi Insight, our Cost-of-Living Tracker data dives deep into the inflation crisis, uncovering how it impacts Africans' daily lives. Explore perceptions, concerns, and the day-to-day challenges faced as communities navigate rising commodity prices. Gain actionable insights to navigate economic uncertainties effectively. Sign up for 30 days Trial?
Unlock Insights into Consumer Spending Across Africa!
Kasi Insight’s Share of Wallet Tracker offers a comprehensive view of consumer spending patterns, from income sources to monthly expenditures. Discover how different demographics allocate their finances, prioritize spending, and what drives their purchasing decisions.
Gain valuable insights to tailor your strategies and stay ahead of market trends.? Sign up for a 30-day trial