
Kick off 2025 by working towards Chartered Marketer (Africa) status
CM(A) is a high-level pan-African professional designation awarded to senior marketers in recognition of their experiences and skills.
CONSUMER BEHAVIOUR
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.
CM(A) is a high-level pan-African professional designation awarded to senior marketers in recognition of their experiences and skills.
Experienced auto industry marketer joins after almost two decades with the Volkswagen and Audi brands in SA.
New CSA offering focuses on marketing-related data analysis, implementation and optimisation for African customers.
Abebe becomes the first Ethiopian to take up the MD position. He moves from the Coca-Cola operation in Uganda, where he was GM.
French-based Géant retail brand now has two stores in the previously troubled North African country, with more planned.
Aim is to quickly spot potential issues and identify gaps, tension points, blind spots and opportunities to course-correct after launches.
Using the right language to inform consumers of the sustainability credentials of a product is vital to ensuring its appeal – research.
Destination ads that emphasise an idealised future are more effective at enticing travellers than campaigns based on nostalgia.
He brings with him industry experience spanning financial services, professional services, IT and telecoms, and FMCG.
OK Zimbabwe, a household name in local retail, closes branches as Confederation of Zimbabwe Retailers calls for urgent interventions.
The rapid spread of online misinformation has become a significant risk for businesses, brands and wider society. Why do people fall for it?
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.