Selling in a diverse market
The African continent presents one of the most diverse marketplaces in the world. The landmass stretches over two hemispheres and consists of 45 different countries. Catering to a population of over 1.2 billion individuals in over 3,000 distinctive tribes takes a lot of research and marketing prowess. The continent comprises a plethora of different nations and groups of people with their distinct ethnicity, culture, and language, which makes it impossible to craft products and come up with marketing strategies aimed at a particular consumer group.
Yet, there are certain commonalities among the different African nations that can help with developing products that are aimed at a larger pool of consumers. According to statistics, the continent will continue to experience the highest rate of population growth. It is expected that Africa’s population under 25 years olds will grow to 1 billion by 2050. Additionally, many countries are experiencing growth and development. The ultimate result is a huge consumer base of young people with a disposable income to spend.
Catering to the young
With the younger population fast becoming the most attractive consumer group and the rising use of the internet in the region, it is a small wonder that these young people are looking towards international trends. Here is a comprehensive list of some of the products that are perfect for the African market:
Young people like to follow trends and keep up with what is in fashion. It is hard to find a fashion item that provides style and comfort in the same way as sneakers do. Many people already own several pairs. This demand for sneakers is only expected to grow in the future, making it a lucrative product idea.
· Fitness trackers
With a fast way of life comes fast food. Full of empty calories, these convenient meals become a necessity for those working full-time jobs. Eating fast food is expected to give rise to obesity-related health concerns and subsequent heightened interest in fitness. Fitness trackers are a great way to monitor daily activity, so fitness regimens can be calibrated accordingly.
Africa is fast embracing the digital age. Many countries in Africa are quickly adopting the infrastructure needed to become connected to the world wide web. Internet service providers are extending their reach, and e-commerce is steadily growing traction. Smartphone ownership and usage are, as a result, projected to increase manifold. Selling smartphones in Africa is perhaps the safest bet.
· Baby carriers
Considering the massive rise in the population under 25 years, fertility rates are naturally going to be high. This means a rise in the number of babies born. Instinctively, all baby-related products, particularly baby carriers, will be in high demand.
This is a no-brainer since the rise in population density inherently increases the size of cities. Since public transportation remains scarce in the region, car ownership will increase exponentially as people are required to travel long distances daily. Cars are a basic source of transportation, and their ownership will go up as more Africans enter the workforce.
This is a small list of just the basic products needed by a continent fast becoming a major player in the global economy. It is like scratching the surface as there remains a lot of research and product development work needed to figure out the specific needs of consumers in an extremely diverse region.