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.

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