Wednesday 3rd March 2021, Nairobi: Kenya’s leading market research and consulting firm Ipsos and brand and business advisory consultancy BSD Group have today launched a pioneer study dubbed The Top 100 Most Loved Brands By Women In Kenya, that will serve as an insight-led tool for Kenyan businesses into the power of women markets.

Ipsos undertook a countrywide study early this year of women aged 18 – 65 to identify the top 100 Kenyan brands loved by them. Insights drawn from the study elaborate how women drive consumer purchase decisions as the primary shoppers for their homes. Women make up 80% of consumer decisions worldwide.

The study details the key reasons the top100 brands made the list based on the data collected and how women markets contribute to the financial and reputational performance of brands and organisations.

In his remarks, Ipsos MD, Chris Githaiga pointed out that the study will bridge the knowledge and insights gap as far as understanding the female consumer demographic is concerned.

“There is huge opportunity as many businesses/ brands actively seek to reach women to draw growth and for valid reasons; women play a critical role in our economy. They truly control the FMCG market – through their influence and purchasing power. Some important statistics – 69% of women play a critical role in the purchase of products or services used in their household and on average, 59% of their income goes to this. Simply put – Empowering women = growing our economy,” said Githaiga.

In her key note address Public Service and Gender Affairs Cabinet Secretary Margaret Kobia, highlighted the importance of recognising and promoting women’s active participation in the economy while contributing to their empowerment.

“Research by McKinsey shows that if women participated in the economy on the same basis as men, it would add $12 trillion, or 11 percent, to the 2025 annual global GDP. This far and wide, translates to developing products and services that meet women’s explicit and implied needs,” she said.

Prof Kobia noted that encouraging women to join positions or sectors where they are underrepresented greatly increases the labour pool and leads to a more talented and skilled workforce as well as new markets.

“If you want success as a company with a strategy that deeply resonates, then it is prudent to consult and co-create with female input from the top-down and bottom- up. The simple fact is that women have growing influence and buying power professionally and personally, so they ultimately need to be included, if not be at the very core, in the creation and implementation of each company strategy.”

CS Kobia emphasised the need to address women’s consumer needs in order to capitalize on the incredible growth potential in emerging markets.

“By incorporating gender concerns into market research, businesses can ensure a strong understanding of women markets, gender norms and relationships that impact development of this special segment.”

Also present at the launch was Cabinet Secretary for Industrialization, Trade & Enterprise Development Betty Maina, who noted that women have for long been an integral part of Kenya’s developmental agenda. She encouraged organisations to be intentional in creating products that meet the needs of women.

“This study is the first of its kind to be done in the country and in the continent and indeed a great milestone in recognising the role that women play in driving the economy. It is evident that women have the power to accelerate growth of new markets and open new frontiers for existing brands. I encourage all industry leaders to take keen note and be

intentional in creating products and services that meet the needs of women,” she said.

CS Maina added that research shows that women play a critical role in the purchase of goods and services used in their households, hence focusing on women markets and gender diversity enables economic growth and value creation.

BSD Group CEO Eva Muraya noted that most businesses have been making decisions based on uncertain business intuition and general market insights with limited focus on specific research-based target consumer personas.

“This study goes a step further to assist you to clearly understand why, when, where and how this largest consumer group makes purchase decisions and to fully harness the power of this specific market,” she added.

The Top 100 Most Loved Brands By Women In Kenya, is a study that serves as a first step locally and globally to exploring the power of women markets, with various studies globally indicating that women form a massive profitable audience that is worth keen attention.

 

 

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