Africa’s economic reset requires moving from ambition to execution
The Africa Commerce Convergence Summit keynote address identified four elements that must converge if the continent is to achieve a meaningful economic reset.
RETAIL STRATEGY
Danish furniture and décor retailer Jysk is expanding into Morocco
By our African Marketing Confederation News Team | 2024
Ikea competitor is growing its global footprint and sees opportunity in North African country’s growing economy and consumer sophistication.
Jysk, the large Danish furniture and home décor retailer that competes with the likes of Ikea, has announced plans to enter the Moroccan market in 2025.
Photo: Jysk
The company already operates over 3,400 stores in 48 countries and is on a global expansion drive. Last financial year its sales rose 7.6 % to US$5.9-billion.
It views Morocco’s growing economy and consumer sophistication as a prime opportunity for further expansion.
According to international media reports, its first outlet in the North African country will be a ‘dark’ store that services online sales or click-and-collect operations, but is not open to the public. It is due to open in in the second quarter of 2025 in Casablanca.
“When we are present in a country, and we want to shorten the delivery time, a dark store is a great option for us. This helps us to attract new customers and create a more seamless experience,” Ole Thomsen, Executive Vice President, Logistics is quoted as saying by the publication Retail Technology Innovation Hub.
More choice and better value
“For Moroccan consumers, Jysk’s arrival promises not only more choice but also the potential for better value,” reports 7News Morocco.
“However, it remains to be seen how established players like Ikea and Kitea will respond to the heightened competition. What is certain is that the Moroccan furniture market is on the brink of a significant transformation.”
Kitea is a Moroccan retailer of household furniture, office furniture and home accessories present across 17 cities and with over 20 stores in the country. It also has two franchise stores in Equatorial Guinea and the Democratic Republic of Congo (DRC).
Adds 7News Morocco: “Jysk’s success in other markets hints at the potential impact it could have in Morocco. In Europe, the brand has gone head-to-head with Ikea, carving out a niche in cities across France and Belgium. It plans to open 125 additional stores in Belgium in the coming years, highlighting its aggressive growth strategy.”
Momentum Group appoints chief marketing and communications officer
Vongani Mageza brings more than 20 years’ experience across financial services and FMCG) companies such as FNB and Diageo.
AI and algorithm-led engagement among the challenges facing marketers
AI agents will influence shopping, algorithms will supersede social connections, and the clip economy will change how brands connect.
Absa bank launches pan-African campaign with athlete Eliud Kipchoge
The brand partnership includes a new TV commercial featuring Kipchoge, digital storytelling, wellness initiatives and community programmes.
How traditional trade is being reimagined, but remains ‘traditional’
Modern retail in Africa is still dwarfed by the traditional trade. Marketers who dismiss this relationship-heavy retail model do so at their peril.
How luxury brands become a source of meaningfulness for employees
Research finds brands don’t just sell products. They can also provide employees with stories through which they feel their work is meaningful
Redefining honesty in a crisis: Why truth alone is not enough
Honesty must be demonstrated through transparency, accountability and action – shaping both reputation and future trust following a crisis.
Lesotho bank’s culturally intelligent campaign beats bigger rivals
In the funeral plan category, where most advertisements look like an obituary, Standard Lesotho Bank opted to ‘sell the cow’, not the policy.
AMC magazine brings latest news and insights for Africa’s marketers
Strategic Marketing for Africa, the publication for deep-thinking African marketing professionals, is not to be missed.
Global study of marketers and agencies is coming to Kenya for first time
CEO of Scopen says the expansion into East Africa is a natural progression following the success of the research in South Africa.
Huge African and Caribbean trade potential can be unlocked, study finds
Report says around 80% of Africa’s annual goods export potential to the Caribbean remains untapped.