Between 2022-2040, East Africa is predicted to record faster economic growth than sub-Saharan Africa at large and other Asian economies that are experiencing rapid industrialisation. However, like in other parts of sub-Saharan Africa, the region will still need to grapple with major challenges, including widespread poverty and political instability.
In today's rapidly evolving business landscape, staying ahead of consumer trends is crucial for companies to remain relevant and competitive. Megatrends, the long-term consumer-driven shifts in behaviour and values, play a pivotal role in shaping industries and economies. Quantifying these megatrends can be a complex task but helps you estimate market potential, spending propensity and ROI. So, where should you start? Here, we explain the importance, methodology and benefits of quantifying megatrends.
Technological advancements continue to accelerate the digitalisation of all our daily routines from shopping, entertainment and socialising through to work and learning. The evolution of the metaverse promises to enable the seamless convergence of our physical and digital lives.
Leveraging the latest technology from ChatGPT to Apple’s new AR/VR headset, brands across the consumer spectrum aim to up the ante when it comes to Experience More and what it means to deliver an elevated customer experience.
The affordable sustainability dilemma has been present for years, yet in 2023, it has gained relevance as the cost-of-living crisis has limited sustainability adoption. Consumers are highly concerned about climate change and are willing to protect the planet. They want to embrace sustainable lifestyles, yet premium prices are still limiting wider adoption.
Hybrid lifestyles mean consumers are spending more time at home, and the cost-of-living crisis is putting pressure on disposable incomes. These trends bring opportunities to meal kits, as they are premium offerings in a retail context but are more affordable than traditional foodservice options, thus making them an attractive choice for consumers in a post-pandemic world.