CONSUMER BEHAVIOUR

‘Thrift and declutter’ market grows as African consumers struggle

By our African Marketing Confederation News Team | 2024

Increased reliance on secondhand goods indicates how economic challenges are reshaping consumer behaviour in West and Central Africa.

Inflation has been a persistent issue in West and Central Africa, eroding the purchasing power of consumers and making it difficult for many households to afford essential goods and services. 

 

According to Pierrine Consulting, a Nigerian-based marketing research and strategy firm, this shift has led to a re-evaluation of purchasing habits, with more people turning to secondhand markets as a cost-effective alternative. 

 

“The increased reliance on secondhand goods has fuelled the growth of the thrift and declutter market,” the consultancy says in a blog post. 

 

 “On the demand side, consumers are increasingly seeking out affordable options in response to economic pressures. On the supply side, the market has been bolstered by the growing trend of decluttering, where individuals sell or donate items they no longer need, contributing to a continuous flow of goods into the secondhand market.” 

Photo by Bruno Silva from Pexels

Consequently, the number of thrift stores and online marketplaces has increased significantly across the region. These platforms offer a convenient way for consumers to buy and sell secondhand goods, with many leveraging social media to reach a wider audience.  

 

“In urban centres – particularly in Nigeria, Ghana and Côte d’Ivoire – thrift stores are becoming a common feature, providing a diverse range of products to meet the needs of different consumer segments,” Pierrine Consulting states. 

 

‘Bend-down’ markets are experiencing more shopper traffic 

 

Informal secondhand markets, often referred to as ‘bend-down’ or ‘tokunbo’ markets, have been a staple in many African countries for decades.  

 

However, recent economic challenges have driven more traffic to these markets as consumers seek out cheaper alternatives. These markets offer a wide variety of goods, from clothing and accessories to electronics and household items, and play a crucial role in meeting the needs of low-income consumers. 

 

“The growth of the thrift and declutter market also aligns with broader environmental and economic benefits,” says the consultancy. 

 

“By promoting the reuse of goods, these markets help reduce waste and support sustainable consumption practices. Additionally, they provide economic opportunities for small-scale vendors and entrepreneurs who operate in the secondhand market, contributing to local economies.” 

 

According to Pierrine, the increased reliance on secondhand goods and the growth of the thrift and declutter market are clear indicators of how economic challenges are reshaping consumer behaviour in West and Central Africa.  

 

As inflationary pressures continue to affect disposable incomes, consumers are turning to more affordable options, driving the expansion of the secondhand market. This trend not only reflects the resilience and adaptability of consumers in the region but also presents new opportunities for businesses and entrepreneurs to tap into a growing market segment. 

 

You can find out more in the consultancy’s ‘The State of The African Consumer – H1 2024’ report here.

View all articles »
author avatar
Rozanne
See Full Bio

PUBLICATIONS

Strategic Marketing for Africa Magazine

CONTACT INFORMATION

[email protected]

0
    Your Cart
    Your cart is emptyReturn to Shop
    Continue Shopping

    Dr Kin Kariisa

    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.