It is a well-known fact that Africa is one of the fastest-growing consumer markets in the world. However, what you probably overlooked is that in order to win in this market, you need a partner that intimately understands the African market environment – Frontline Market Research [FMR].
The African market environment
The Africa market environment certainly has huge growth potential. According to the Brookings Institution, consumer expenditure on the continent has grown at a compound annual rate of 3.9 percent since 2010 and reached $1.4 trillion in 2015. This figure is expected to reach $2.1 trillion by 2025, and $2.5 trillion by 2030.
But it does not mean your business must just jump in blindly, as we found out from Frontline Market Research.
“90% of the African market environment consists of traditional trade outlets and emerging market outlets,” describes Elmari Campher, Director of Retail Tracking Services at FMR.
Her team specialises in Retail Tracking Services; Retail Audits; Stock Generated Market Share; Share Evolution; Execution Audits and Trader Satisfaction Surveys. Click here for more on what they do.
“The market is actually well-regulated despite perceptions. It is mostly well-regulated because it is a big tax generator. However, there is also illicit trade that may be a barrier to entry.”
She explains that the African market is understandably different from other consumer markets that you find across the globe.
“Often, there is a very complex route to market strategy which needs to be followed within this market,” Campher says.
“It is also characterised by limited buying power. A key feature is small regular purchases by bother traders and consumers. Consumers are also very open to sharing with other people, typical example being African beer.”
Frontline Market Research can help you win
Many companies or businesses wishing to go it alone in the African markets can easily miss all these subtle points. This is why many have partnered with Frontline Market Research – and you should too.
“At FMR, we are a recognised authority on the African market environment,” Campher describes, adding; “It’s not an exaggeration when we say we have walked the streets, hiked the bush and driven the roads!”
She adds that from conception to the execution of your entry into the African market environment, Frontline Market Research ensures you are ahead of your competitors.
“We have a customised approach to clients wanting to enter the African market,” she notes.
“You will know the opportunities and the barriers into the market that you are wishing to dominate. In short, we will help you know where to play, how to win and how to keep winning!”
Where Frontline excels is the accuracy of the data it collects. The company also assists you with strategies on how to use the data to win, and to keep winning, right up to, and past, the last mile.
If you need data for a specific sector, such as census / population / demographic data or market-related data, Frontline Market Research has a vast footprint in Africa.
To find out more, call Elmari Campher, Director of Retail Tracking Services at Frontline Market Research, on +27 86 999 0407 or email info@frontlineafrica.com today. Visit them online at frontlineafrica.com.
Want to read more about how Frontline Market research can help you win? Click here.