It turns out that soaring gross domestic product, population and governance alone are not enough to predict brand success in Africa.
Rising affluence has turned the continent’s biggest economies into modern-day Meccas for consumer industries, with a growing middle class clamoring for high-quality branded goods.
However, a report by global marketing research firm Nielsen on Wednesday showed that companies that combine retail data from both modern and traditional trade and consumer shopping behavior with broader, macro environment indicators, would be better positioned to identify the right retail execution strategies that lead to sustainable growth and profitability in Africa.
"Successful consumer brands in Africa understand three key pieces of retail information: who shops where and for what; which retail outlets are the best for the product to generate sales, and how to build demand among retailers and consumers," said the head of Africa for Nielsen, Allen Burch. Read more. Source | Business Day