The customer is king
The African continent is widely viewed as offering the final frontier for consumer growth. Doing business here has been hampered in the past, but the business environment is improving; infrastructure is being strengthened, while growing numbers of consumers are earning more and purchasing products and services that support their aspirations. The rise of mobile communications is fuelling consumer growth and resulting in a major shift towards online shopping, which is set for massive expansion as mobile usage soars.
Sector at a glance
- 303 million - The number of African households
- 53% - The percentage of income earners in Africa who are 16-34 years old
- 10% - The compound annual growth in value sales in Sub-Saharan Africa’s supermarket industry by 2021