Every business professional operating across the continent is asking:
‘What’s next in the African retail landscape?’ Let’s get some disclaimers out of the way. Bad infrastructure? Yep. Below global average internet penetration? For sure. Poor service delivery? You get the point. But these metrics only tell half the story. In the face of these issues comes ingenious innovations which often give the West a run for its money.
Let’s also not forget that Africa was never dealt a fair hand to begin with. The continent has struggled with extracting value from the globe’s ‘free’ markets and supply chains, despite the fact that natural resources or ideas were never an issue domestically. Take chocolate – 75% of the world’s cocoa production comes from Africa and yet, it only receives 5% of the USD 100 billion annual revenue. Lately, this lag has forced local brands to sit up and consider new ways to flip the script.
In the race to catch up with the rest of the retail world, highly-expectant, globally-aware African consumers will see brands cater to them in ways previously unimaginable. As local companies utilize online and offline channels, Africa is primed to educate the rest of the world about the ultimate retail experience.
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If you’ve read our Global Future of Retail report, you’ll know that this publication is not about matter-of-fact macro-trends on the state of African retail. There are already countless reports out there that capture the region’s economic growth rates, e-commerce penetration, experiential retail, millennials’ shopping habits – the list goes on.
Instead, we are highlighting the five tactical opportunities you can tap into, to fuel your next winning retail innovation. These trends point out where shopper expectations are headed to, and what they will start demanding from you.
1. MODERN MARKETPLACES
E-commerce Africanized = retail e-clusters.
2. DELIVERY DELIGHT
How logistics solutions will leapfrog lagging infrastructure.
3. PROUDLY AFRICAN
As the retail economy roars, its ‘Africanness’ roars too!
4. BEST BEHAVIOR BRANDS
In 2018, every retail brand must ooze positivity.
5. TOUCHPOINT RELEVANCE
Retail in the right channel and the right context.
Ready to dive right in? Good luck!
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