Sub-Saharan Africa has uplifted itself from the two decade economic low reached in 2016, bringing a slight easing of pressure but not a return to the robust growth rates previously experienced. In the 5th edition of Nielsen Africa Prospects ranking, we look at how the countries have performed across various parameters.
The potential of Nigeria, one of the largest Sub Saharan Africa economies, is undisputed. However recently, businesses are grappling to adapt to the changing social, political, and economic environment in the country. Here are key insights to help you prepare for what’s next in Nigeria.
2016 was a year of upheaval and change the world over, with equivalent sways experienced across Sub-Saharan Africa. In the 4th edition of Nielsen Africa Prospects ranking, we look at how the countries have performed across various parameters.
Ongoing turmoil and volatility in many of Africa's markets are reflected in the ranking indicators of Nielsen's third Africa Prospects report, with six of the nine countries shifting in position over the past six months.
Morocco marked its first introduction to the Nielsen’s consumer confidence survey in the third quarter with an index score of 85. This quarter’s addition of Morocco brings the total number of countries surveyed to 61, globally.
Nielsen’s African Prospects Indicator provides existing and potential investors in Africa with comprehensive insights across an extensive range of indicators, culminating in an unambiguous ranking of Sub-Saharan African countries.
Consumer confidence in the second quarter of 2015 increased eight index points in Kenya to 112 and three points in Nigeria to 132—the highest score of the three countries measured in Nielsen’s mobile consumer confidence survey in sub-Saharan Africa.
Consumer confidence in the United Arab Emirates (UAE) had the highest index of five countries measured by Nielsen in Middle East/Africa region (108), but the country's confidence decreased seven points from the first quarter—the biggest quarterly decline in six years.
Globally, more than six-in-10 respondents (63%) say they like when manufacturers offer new products. But while consumers across the globe are enthusiastic about new products, their purchasing patterns vary widely.
Starting the year positively, global consumer confidence saw an increase of one point from fourth-quarter 2014, with an index score of 97. After a slight dip at the end of last year, when all regional confidence scores declined, it was a more upbeat start to the year, as confidence increased slightly or remained stable in every region except Latin America.
In Africa’s complex retail environment, even companies poised with the right products can miss the mark if they don’t get them to the right place. But tailoring distribution choices—along with other factors—to specific products can help improve sales.
Few markets show the immense potential for consumer products companies like Africa does, but that promise is mirrored by sizable challenges as well. Even with myriad complications, however, companies can overcome the challenge of distribution by getting close to the multitude of small retailers—that’s the true path to success.
Africa is on companies’ growth agenda for obvious reasons. Six of the 10 fastest-growing economies in the world are in Africa, it has the world’s greatest proportion of young people, and it has a burgeoning urban population with growing demand for many goods not yet widely available, as well as the means to buy them.
Consumer Confidence in the Middle East/Africa region dipped one-index point in the fourth quarter, ending 2014 with a score of 95. The score marked a five-point increase from the fourth quarter of 2013. Among the five countries measured in the region, three saw quarterly consumer confidence increases and two saw declines.
The diversity of consumers and markets within Africa is staggering, but it presents tremendous opportunities for those who properly understand and navigate this complex marketplace. So what’s the most effective way to reach Africa’s consumers? And how can marketers ensure they’re delivering messages and products that resonate?
In second-quarter 2014, consumer confidence remained high in Nigeria, Kenya and Ghana—new entrants in Nielsen’s Global Consumer Confidence and Spending Intentions Survey that made their debut in the first quarter of this year.
With over one billion consumers--a number growing faster than that of any other continent--Africa boasts a wealth of potential. The young and quickly growing population, paired with a rising gross domestic product (GDP) that has grown faster than the rest of the world ever year since 2001, make Africa a vital market brimming with opportunity.
With more than one billion consumers, Africa is a continent of rising influence and potential. Discover deep insights into consumer habits across a diverse range of markets with details on how African consumers spend their money and consume media.