South African market research firm, Trade Intelligence, has delivered a new report highlighting the intricate dynamics of Kenya's retail market.
The researchers made trade visits to numerous retail stores and held discussions with key industry players to develop the Retail Trends Report which was later presented at a recent Retail Trade Association of Kenya (RETRAK) forum.
Among the retailers visited were stores from the international retail group Carrefour, and from Kenyan companies Naivas, Quickmart and Chandarana Foodplus.
Trade Intelligence then analysed these stores, looking at everything from the structure of the businesses to their performance, to their individual trading strategies and execution at retail.
"It’s a changed landscape today. Ten years ago, informal trade was the dominant force in Kenyan retail.
"With the development of modern retail in Kenya, we’re seeing that entrepreneurial spirit translated into something really special – some of the most innovative and exciting execution at retail we’ve ever seen. We’re excited to share this inspiration with local brands, but also with our clients at home," Ti Business Development Lead, Andrea Ellens stated in her presentation to RETRAK.
Ellens also highlighted the macro factors shaping the East African FMCG retail trading landscape, emerging global retail trends, and the nuances of Kenyan shopper's behaviour and preferences.
Notably, loyalty strategies are a competitive advantage in the Kenyan market, the rise of convenience in modern trade stores has impacted traditional dukas and kiosks, and the significance of hyper-segmentation in fostering shopper-centric experiences.
“Our mission is simple – to foster better and more profitable trading partnerships between retailers and suppliers wherever we operate,” she added. “We are resolutely committed to nurturing relationships with stakeholders, leveraging the profound insights we’ve gathered, and cementing our position as a trusted source of in-depth retail intelligence.”
Trade Intelligence collaborated on its RETRAK presentation with affiliate company, DataOrbis and other local industry experts as well as RETRAK. With its entry into Kenya, and East Africa, Ti aims to foster enduring relationships within the Kenyan retail sector, emphasising the dedication of the business to contribute positively to the retail ecosystem of any geography in which it operates.
“It’s long been our ambition to explore the Kenyan market,” says Trade Intelligence GM Janene Laas. “We’ve honed our skills in the South African market. But we know that there’s an exciting world of retail innovation out there. We’re a relentlessly curious business, and Kenya has so much to teach us.”
The Trade Intelligence report is available to any supplier, Kenyan retailer, or FMCG brand at a fee.