Summary of African Consumer Sentiment 2019

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African Consumer Sentiment 2019 summary
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Africa’s role in the future global economy will only grow: After all, 60% of the population added to the world in the next 30 years will be living on the continent. Yet a thorough understanding of Africa’s diversity and regional differences in consumer behavior is a prerequisite for businesses eager to tap into Africa’s market potential. The Boston Consulting Group’s African consumer survey provides a useful starting point.

About the Authors

Pedro MarecosStefano NiavasTakeshi Oikawa, and Nomava Zanazo are regional experts with the Boston Consulting Group based in Nairobi, Luanda and Johannesburg. 

 

Summary

A 2018 survey of “everyday urban” consumers in 12 African countries reveals an extraordinarily high level of consumer optimism. Eighty-six percent of survey participants, most of them living on a monthly household income of less than $500, felt positive about the future. This compares with only 48% of consumers expressing optimism in developed economies. Average incomes in Africa remain low – 3.5 times lower than in Asia – partially explaining the premium that Africans put on product quality as defined in terms of durability. The focus on quality is particularly strong among ...


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