BSD Group and Ipsos Releases the 3rd Edition of Consumer Market Research – The Top 100 Most Loved Brands by Women in Kenya
Tuesday 21st, March 2023, Nairobi: Ipsos and BSD Group have released the 3rd edition of The Top 100 Most Loved Brands by Women in Kenya. The Study establishes the authority of women consumers as an emerging, significant, and profitable consumer market. This Study is the first of its kind to be done in the country and in the continent. Ipsos Kenya undertook a countrywide research three years ago among women aged 18 – 65 to identify the Top 100 Kenyan Brands Most Loved by Women. Insights drawn from the study elaborate how the Kenyan woman drives consumer purchase decisions within her household as the primary shopper.
The study also details key reasons why the Top 100 brands made it to the 3rd edition based on data collected and how women markets contribute to the financial and reputational performance of brands and organisations. In his remarks, Ipsos Kenya Managing Director, Chris Githaiga points out that the study seeks to bridge the knowledge and insights gap in understanding the female consumer market.
“This is a huge opportunity for most brands that actively seek to engage women as an opportunity for growth since women play a critical role in our economy. They truly control multiple market segments – through their influence and purchasing power. 69% of women play a key role in purchase of products or services used in their households and on average, 59% of their income goes to household purchases. Additionally, the percentage of female-headed households is increasing and can no longer be ignored. Our recent studies show that close to 50% of households in Kenya have woman as the head. Therefore, empowering women impacts the overall economic growth and value creation,” says Githaiga.
“Brand owners, policy makers, investors can get a better understanding of women’s consumption habits after we realised that the demographic and value of women consumers in Kenya was understated, misunderstood, and ignored,” adds Githaiga. Most organisations have been making decisions based on uncertain business intuition and general market insights with limited focus on research-based approach to women markets. “Research by McKinsey shows that if women participated in the economy on the same basis as men, it would add $12 trillion, or 11%, to the annual global GDP by 2025. This translates to developing products and services that meet women’s explicit and implied needs. Recognising and promoting women’s active participation in the economy while contributing to their empowerment should be intentional rather than a reaction,” says Ms. Eva Muraya, Founder and C.E.O, BSD Group.
Ms Eva also notes that encouraging women to join positions or sectors where they are underrepresented greatly increases the labour pool which translates increase in talented and skilled workforce as well as new markets. “For brands and organizations to be successful, they need strategies that deeply resonate with, prudent to consult and co-create with women in a top-down and bottom-up manner. They ultimately need to be included in developing and implementing brands and organisational strategies,” adds Eva.
Kenya, the East Africa region, and Africa at large need to capitalize on the potential growth of women-led 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. Women have been an integral part of Kenya’s developmental agenda. She is encouraging organizations to be purposeful in creating products that meets their needs. It is evident that women have the power to accelerate growth of new markets and open new frontiers for brands and organisations,” Eva concludes.
The Top 100 Most Loved Brands by Women in Kenya serves as a first step towards exploring the power of women markets, with various studies globally indicating that women form a massive profitable audience that needs keen attention, locally and globally.
About BSD Group
BSD Group is a multi-disciplinary brand and business advisory consultancy that focuses on brand innovation, communication and management. BSD Group comprises four specialty businesses; BSD Ltd, a brand and business advisory practice; Avid PR, a communications consultancy that brings together a skill set of professionals and communication specialists to address the regions’ most pertinent communication challenges as currently experienced by varied Corporate, Development Organisations, Government Bodies and Public Sector Organisations. Whiteboard, an advertising agency uses unique understanding of the consumer, enabled by the digital age, to leverage creative power to craft communication that connects clients to the new, empowered consumer and BrandQuad Africa, an integrated strategic brand training consultancy that offers modularised open and closed courses to enable organizations succinctly understand brand as well as its critical role in organizations.
Ipsos is the third largest market research company in the world, present in 90 markets and employing more than 18,000 people. Founded in France in 1975, Ipsos is listed on the Euronext Paris since July 1st, 1999. The company is part of the SBF 120 and the Mid-60 index and is eligible for the Deferred Settlement Service (SRD). In Sub-Sahara, Ipsos have offices in 9 markets, with capacity to conduct studies across all markets through partners. Ipsos Kenya was set up in 1984, and act as hub for broader East Africa markets. Currently employing 150+ full-time employees and over 3000 interviewers across the country.
Our research professionals, analysts and scientists have built unique multi-specialist capabilities that provide powerful insights into the actions, opinions and motivations of citizens, consumers, patients, customers or employees. Our 75 business solutions are based on primary data coming from our surveys, social media monitoring, and qualitative or observational techniques. In our world of rapid change, the need for reliable information to make confident decisions has never been greater. At Ipsos we believe our clients need more than a data supplier, they need a partner who can produce accurate and relevant information and turn it into actionable truth.
This is why our passionately curious experts not only provide the most precise measurement, but shape it to provide True Understanding of Society, Markets and People. To do this we use the best of science, technology and know-how and apply the principles of security, simplicity, speed, and substance to everything we do. So that our clients can act faster, smarter and bolder – success comes down to a simple truth: You act better when you are sure.
“Game Changers” – our tagline – summarises our ambition to help our 5,000 clients to navigate more easily our deeply changing world.