While marketers in many countries are worried about a recession, there is also optimism regarding the business climate and marketing budgets.
Saudi fast-food brand expands its franchise operations into Nigeria
By our News Team | 2023
Partnership with a local company will see a rollout of 50 Herfy quick-service restaurants in Nigeria over the next decade.
Herfy Food Services, a fast-food chain based in Saudi Arabia, has extended its business into Africa with the launch of two franchise brands in Abuja and one in Kano, Nigeria.
Local operations within Nigeria are being handled by Eatrite Food Services West Africa, which signed an agreement in 2021 with Herfy. In total, Eatrite plans to open 50 Herfy outlets in Nigeria over the next 10 years.
Photo courtesy of Herfy via Facebook
Herfy is well-established in the Saudi-Arabian market, having opened its first outlet in 1981. It currently has 285 restaurants in the country, which serve mainly burgers and chicken wraps.
Within Nigeria, Herfy will be competing with major international QSR brands such as KFC, Pizza Hut and Burger King.
According to the Association of Fast-Food Confectioners of Nigeria, the country’s organised fast-food industry is estimated to be worth US$602-million and has been growing at a 10% annual rate in recent years.
Increased urbanisation and a growing middle class
Among the reasons for the rapid growth are said to be increased urbanisation, a rising middle class, changing consumer lifestyles and increased adoption of digital innovation.
“Every QSR must prioritise consistency and quality if it wants to succeed in the long run. Customers [must] expect the same level of consistent, high-quality service each time they enter a restaurant. This boosts consumer confidence in the brand and may greatly affect the entire enterprise,” the Association of Fast-Food Confectioners of Nigeria said in a recent statement discussing the QSR sector.
Speaking during the launch of the Herfy brand in Nigeria, Eatrite Chairman, Alhaji Isa Inuwa, said it would provide employment for about 10,000 people, both directly and indirectly, while offering a variety of world-class products to consumers.
He added that the bringing together of economic interests by Nigeria and Saudi Arabia would enhance diplomatic relations between both countries.
The Nigerian-Saudi Chamber of Commerce was established in the second half of 2022 to boost business and promote trade between the two countries. The launch of the first store was attended by His Excellency Faisal Bin Al-Ghamdi, the Saudi Arabian ambassador to Nigeria.
US industry body warns marketers to be vigilant as programmatic media is ‘complex’ and ‘can be non-transparent’.
Dentsu says big events like the Euro 2024 soccer finals and US presidential election will help to push up spending.
Look for transparency, check results of previous projects, and request an air-tight scope of partnership, advises industry expert.
AMC’s range of Short Courses is designed to complement the study and career-growth initiatives offered by our member countries.
More people also took advantage of deals to buy everyday items, rather than spending on big-ticket luxury goods.
Bath and body well-being brand creates a 3m-high candle and lights it in a busy Christmas shopping precinct to encourage people to ‘reset’.
Data from 2008 recession indicates that, in another recession, the amount spent on higher-priced Fair Trade goods may actually increase.
Interbrand study says lack of growth mindset, weaker brand leadership and poor forecasting are among the key reasons.
Tlali Taoana has experience in strategy, marketing and executive roles, and will expand the capabilities of the business.
AMC President flies the flag at the World Marketing Forum in Thailand, then welcomes Tunisia as the confederation’s 11th member.