Toronto - November 4th, 2019: When it comes to market research in Africa, the majority of SMEs are still seeing it as an expense they can't afford. While it may be a good move in the short term, research shows that companies that invest in research perform better than the competition and are more sustainable in the long run.
According to the latest 2019 Esomar market research report, the global turnover of the traditionally defined market today has not only reached but surpassed a value of US$ 47 billion. Interestingly, Africa's turnover represents only 1% or $524 million. In the US alone, the turnover is US$21 billion that is 42 times the amount spent in Africa. What is the significance here?
Source: Esomar Research Report, 2019 Global Market Research Report
When you look at the top brands in Africa, only 2 companies out of the 20 are African companies while 4 companies out of 20 are US-based. There is a direct correlation between research spent and competitive edge. It is true globally and one of the main reasons, US brands dominate the market in Africa.
Source: Brand Africa, 2018-2019 Most Admired Brands in Africa
Our founder Yannick Lefang sat with Andile Masuku - taped at Afrobytes Tech Conference 2017 - Yannick explains why KASI was founded and its purpose. He also talked about the importance of research, the size of e-commerce in Africa, the true meaning of innovation in the African context. He also gives some real-world examples of how research conducted by his firm has helped clients meet business objectives.
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KASI Insight is a “one-stop-shop” research agency, for data, indicators, and insights; which provide clients with an in-depth understanding of the socio-economic realities of African consumers.
Every month the company surveys thousands of ordinary Africans across Sub-Saharan Africa through syndicated and custom research studies, uncovering rich insights on how they live, what they think, how and what they spend their money on and much more.
These insights empower marketers, corporates, policy makers, start-ups, and investors with first-hand feedback from their most valuable asset - their future customers.
Please get in touch with KASI Insight if you want to garner the most pertinent insights to help grow your business and brand in Africa.
Contact our team today to explore how our consumer intelligence, brand intelligence, retail intelligence, and economic intelligence can empower your decision-making process. Win with confidence with Kasi insights https://www.kasiinsight.com/thehub
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