Despite Côte d’Ivoire still being dominated by a traditional trade retail base, the Nielsen Shopper World Conference held in the capital Abidjan, has found that the country’s modern trade arena has seen the greatest evolution in the last two years and therefore holds the most potential for growth.
This has been spurred on by the expansion of brands such as Carrefour and Bonprix and a growing consumer appetite for more organised retail outlets, which offer a broader assortment of ranges as well as competitive pricing and enhanced promotional activities. This in comparison to small independent stores that utilise bargaining opportunities, as a form of promotional activity.
Speaking at the event, Nielsen Francophone Africa lead Yannick Nkembe commented: “Traditional trade is still very strong in the minds of shoppers in Côte d’Ivoire, who value the bargaining option they have in open markets and the availability of all the products they want in one place. However, the current development of modern trade and a growing middle class is creating a shift towards more formalised shopping experiences.
“In addition, the activities supermarkets put in to align their offers with those found in open markets, e.g. fresh products and convenience, is boosting the appeal of modern trade outlets. It’s therefore clear that to win, good execution is needed independent of store types.”
A promising economy
Looking at the bigger picture, Côte d’Ivoire’s rapidly developing retail sector is no surprise, considering its ongoing strong performance in Nielsen’s Africa Prospects Indicator (API) where it has retained consecutive top positions ahead of some of its larger peers. The conference also included a presentation on shopper trends in Côte d’Ivoire which found that this is due to its outstanding improvements in terms of ease of doing business. It has also recorded strong GDP growth, several new IPOs, a doubling of the banking sector, low inflation, a stable currency and solid infrastructure.