NEWS11 July 2016

Africans optimistic about their future

Middle East and Africa News Retail Technology Trends

AFRICA – The vast majority of Africans ( 88%) are optimistic about their future and are eager to buy new things, according to a study from the Boston Consulting Group (BCG).

African shopper_crop

In Egypt, Kenya and Nigeria optimism was about 90% which is a particular turnaround for Egypt as political stability has begun to return.

Covering 11 African nations – Algeria, Angola, Côte d’Ivoire, the Democratic Republic of the Congo (DRC), Egypt, Ethiopia, Ghana, Kenya, Morocco, Nigeria, and South Africa – the report polled more than 11,000 ( 8,977 living in urban areas) of 18- to 75-year-olds in February and March last year.

Eighty-five per cent of respondents agreed with the statement ‘It seems like every year there are more things I want to buy’, up from 75% in 2013.

The survey found that Africans continue to highly value brands and social approval of a brand is an increasingly strong influence on purchasing decisions although generational differences have grown.

Compared with 2013, a larger number of respondents agreed with the statement ‘All things being equal, I don’t want my mother’s or my father’s brands’. But the share of respondents who agreed with the statement ‘Brands say something about who I am’ dropped from 67% to 56%.

Nokia and Samsung are Africa’s favourite mobile electronic brands by a large margin. Brands are less influential in clothing, accessories, and shoes although Adidas is the relative leader in these categories.