Consumers in Africa Archives - AfricaBusiness.com

8Oct

By Africa BusinessNo Comments

South Africa News

Mid-Year Consumer Outlook for South Africa shows ‘financial polarisation’ between consumers

Consumer spending is starting to turn a corner, but many South Africans feel worse off due to higher food prices Hustle culture is growing, with 83% of respondents seeking additional income streams NielsenIQ (NIQ), the world’s leading global consumer intelligence company, has released its Mid-Year Consumer Outlook: Guide to 2025 report, identifying macro catalysts across industries. The forward-looking study provides a strategic roadmap for South African retailers looking to win over consumers in the year to come. The report anticipates that global consumers will spend $3.2 trillion more in 2025, representing nearly 6% growth compared to 2024, according to World Data Lab. In South Africa, there are signs of growing consumer confidence and resilience, even with rising food and utilit...

22Mar

By Africa BusinessNo Comments

South Africa News

South African consumers feel the big squeeze: 99% have changed their FMCG shopping habits to save money

44% of South African consumers say they are worse off financially now than a year ago 65% say they would purchase a product that has innovated to make it as affordable as possible According to NIQ, 44% of South African consumers feel they are in a worse financial position this year compared to a year ago. Of those respondents, 82% say that increased costs of living are to blame for their recent financial struggles, up from 76% a year ago. Nearly two-thirds (62%) state they are worse off due to the economic slowdown, up from 57% a year ago. Half (50%) of respondents report concerns about job security, up from 43% a year. Some 27% blame ongoing Covid-19 disruptions and setbacks for their financial situation, down from 45% a year back. These findings appeared in “Consumer Outlook 2024...

Shopping for sustainability: online stores and e-commerce merchants answer growing consumer demand

28Feb

By Africa BusinessNo Comments

Business, South Africa News

Shopping for sustainability: online stores and e-commerce merchants answer growing consumer demand

While 92% of South Africans say sustainability is important to them, only 58% claim to live sustainably according to a 2022 study by global consumer insights agency InSites Consulting. It’s clear South Africans want to make a change; they just don’t know where to start. That’s where online retailers and e-commerce merchants come in, says Steffen Burrows, CURBON co-founder and director. The ‘sustainability paradox’, or the gap between acknowledgment (92% importance score) and action (42% not living sustainably), should be treated by brands as an opportunity. Since 86% of consumers believe that companies have a duty to take care of the planet, merchants and e-commerce businesses can help consumers overcome barriers to adopting more sustainable habits in their daily lives. This means makin...

30Jun

By Africa BusinessNo Comments

Kenya News, Medicine

Kenya Nutritionists and Dieticians Institute (KNDI) unveils consumer study report on Royco Mchuzi Mix (Beef), endorses product as safe

The Kenya Nutritionists and Dieticians Institute (KNDI) has released a landmark consumer study report on Royco Mchuzi Mix (beef) brand, revealing that the product is safe and the ingredients in the mix have scientifically proven health benefits as spices and herbs. KNDI, in collaboration with Unilever Company, engaged in a self-regulation study of Royco Mchuzi Mix with a focus on its effect on common health claims. This was done to educate the Kenyan public on the health and dietary claims associated with the product. The study, conducted by KNDI, entailed a value chain process analysis at Unilever Company Limited Factory as well as a cohort study on common health claims associated with consuming Royco Mchuzi Mix. The research was geared towards educating the public on good dietary and ...

16Apr

By Baker McKenzieNo Comments

Botswana News, Egypt News, Main, Mauritius News, Morocco News, South Africa News

Competition law in post-pandemic Africa a key driver for market participation, consumer protection and fair practices

With the growth of economies across Africa, competition law has remained one of the key drivers for effective market participation, consumer protection and fair business practices. However, the global pandemic introduced new challenges for competition authorities in Africa and abroad, with each enforcer pursuing the most beneficial enforcement method for its national or regional jurisdiction. According to Lerisha Naidu, Partner in Baker McKenzie’s Competition & Antitrust Practice in Johannesburg, “These efforts were aimed at curbing the persistence of unjustified price hikes, anticompetitive cooperation between competitors and other harmful business practices that sought to undermine competition. In addition to the urgent responses to the unprecedented impacts of the global COVID-19 c...