Sub-Saharan Africa’s prospects improved in 2017 as global financial conditions were more favourable, commodity prices rallied and inflation slowed helping revitalize demand. While conditions will remain tough, balancing the now and the next will lead to bigger gains. The 6th Nielsen AFRICA PROSPECTS REPORT highlights shifting country priorities and sources of growth, with multi-dimensional, comparative, integrated indicators.
What causes a consumer to pull a product into their lives? Simply put, we bring a product into our lives because it meets a need or desire. That’s the crux of Jobs Theory: doing a job that needs to be done.
In order to keep up with busy consumers, retailers are increasingly finding that they need to innovate in ways that make it easier and more convenient for their customers to get what they need and not miss a beat in the process. Channel and format are the stand-out examples of innovation in retail, but they’re certainly not the only ones.
Shoppers never stop shopping, and retailers must evolve to stay ahead of the pack and keep consumers engaged. And today, brick-and-mortar stores need to innovate continually to compete with e-commerce's growing appeal and loosen consumers still firm grip on on their wallets.
The need to differentiate from the competition is as great as it has ever been. For stores to stay ahead, they need to encourage consumers to increase the number of trips, grow the size of their basket, or both.