Marketing & Media trends
- A bold year for beveragesAlex Glenday
- Acceleration of digital paymentsJonathan Smit
- Safety vs sustainability - the packaging industry's key conundrumNthabiseng Motsoeneng
- The evolving e-tail landscapeVilo Trska
Construction & Engineering trends
- 3 major trends in the commercial property space in AfricaPeter Hodgkinson
- A bright horizon for South Africa's energy landscapeBarry Bredenkamp
- Achieving developmental goals through constructionCyril Vuyani Gamede
CSI & Sustainability trends
- Time for NPOs to show their real impactKeri-Leigh Paschal
- 5 sustainability trends that will shape business in 2021Christelle Marais
- 4 trends set to continue or be re-interpreted in the NGO sectorInnocent Masayira
- Strengthening NPO skills and processesNazeema Mohamed, Feryal Domingo and Soraya Joonas
- Sustainability is key for social investment in 2021Keri-Leigh Paschal
- 4 trends in employee skills development and training you need to know for 2021Siphelele Kubheka and Desikan Naidoo
Energy & Mining trends
- 10 predictions around fintechDominique Collett
- The 4 themes for the new yearAndrew Duvenage,
- 3 wealth management trends to watch in 2021Maarten Ackerman
- 4 strategies to rethink investing in SMEsKuhle Mnisi
- Microinsurance ready to reach new heightsMarius Botha
- Finding alpha in the age of Covid-19Nema Ramkhelawan-Bhana
- Purpose or profit. It's not a choiceMike Middleton
- Shifting towards a digital - but still human - approachHenry van Deventer
HR & Management trends
- 4 areas in which your business can practice its swivelFrancois Kriel
- 5G is coming. Here's what it could mean for SASamantha Naidoo
- 3 big issues demanding legal attention this yearJonathan Veeran, Nozipho Mngomezulu and Burton Phillips
Logistics & Transport trends
Marketing & Media trends
- Tech democratisation will set the tone for 2021Andrew Smit and Johan Walters
- Auction industry survival depends on going virtualJoff van Reenen
- Covid-19 drives new trends in local property marketMarcél du Toit
#BizTrends2020: Africa's double-edged consumer demand
Africa's consumer landscape is fragmented and polarised, characterised by the double-edged demand of a diverse base of consumers.
Against this backdrop, 2020 is set to be a year characterised by contrasting trends and behaviours.
The order of yesterday, today and tomorrow. Do not expect a year ahead without choppy waters; it’s the nature of the environment where we live, work and serve consumers.
There will continue to be economic, political and social uncertainty and turbulence in some markets, while there will be more stability in others.
Many African markets will continue to beat the global best for growth, advancement, and innovation.Regardless of where you operate, a deep foundation of potential exists – large untapped populations and markets, growing urbanisation, rising prosperity, expanding consuming classes, untapped consumption potential – and signals substantial opportunity for success provided your toolkit contains the ‘Africanised’ equipment.
The proliferation of product, place, platform and content points to growing disloyalty.
Increasingly discerning and fickle consumers are actively looking to play the field in search of new, novel and niche.Availability-based buying, often mistaken for loyalty, will give rise to reduced risk of trial as choice explodes. This new battleground means brands need to be more than affordable and available; and will need to answer and account for what they solve for consumers, and how they go about doing that.
This means more purposeful brand principles, beyond the tangible traits of value, quality, design, and function, need to be considered. Factors such as sustainability, experience, transparency, and trust will be elevated into the decision making process. Brands will need to align with consumer ideals and on terms in which consumers are willing to associate and offer their fidelity.
The dilemma of what consumers need and want relative to what is available, what is affordable or what they are willing to pay more for will come into sharp focus in 2020. No matter where consumers live they will look for better quality, value and convenience, as well as healthier, sustainable and environmentally-friendly options.
However, selections are often limited or only accessible to those in higher-income groups as they are priced at a significant premium.
The contrast between consumers who can only afford the basics and those who can spend freely will become more polarised than ever.Mass market, mixed-price portfolio strategies will likely become less common as companies refine their priorities and innovation strategies to focus on ‘Super Consumers’.
Consumers have growing access to more and better technology, but usage and functions beyond communicating, entertaining and social interaction are still far from mainstream. Adoption of in-store technology, e-commerce, mobile applications, artificial reality and virtual assistant services to streamline consumers' lives therefore still have a way to go.
However, there’s little doubt that for those who gain access to more cutting edge digital options, life will be simplified and streamlined by obtaining products, services, information, and content in modernised, efficient and personalised ways.To get to grips with both sides of the ‘consumer coin’ in 2020 will require a crystal clear view of the consumer context - their circumstances, needs, aspirations and outlook. Acceleration and amplification of information, excitement, experiences and exponentially more choices will see consumers craving niche and enhanced products against the backdrop of the fast and fickle ‘expectation’ environment.
Retailers and manufacturers will, therefore, need to match these diverse needs, leveraging data to develop deeper relationships with their target markets and solutions that are ‘right here, right now and right for the consumer’.
About Ailsa WingfieldAilsa Wingfield is Executive Director: Intelligence for Nielsen Global Markets. She helps companies capture today and tomorrow's prospects by identifying and exploring demand generating trends through strategic foresight, knowledge and thought leadership creation. With a passion for Africa and Middle East, she established the Africa Prospects Indicator which determines overall country prospects and the sources of potential, across economic, business, consumer and retail metrics. Ailsa has extensive experience working with global and local brands in multiple countries across the consumer goods, media and telecommunications industry.
Read more: customer loyalty, consumer trends, Nielsen, consumer spending, Ailsa Wingfield, biztrends, BizTrends2020