Why do we need to understand Africa?
Base of the Pyramide constituted of people with the lowest revenues is also growing at large, and remain totally unknown to most business leaders. No malls, only small shops with no formal existence are in contact with the customers. In Abidjan for instance, more than half of the people live in areas mainly dominated by the informal sector. Businesses which are keen to make a difference on the long term will need to look beyond the current middle class and find best ways to reach this fast growing and large base of the pyramide.
We know the Africa market
What is the African market?
The African market contains all consumers and firms one can find on the continent, both in the formal and informal sector. The Sub Saharan African economies are in moderate growth since 2000, and a significant part of this growth is led by the informal sector. In addition, Africa has the world’s youngest population – with more than half its inhabitants who are under 20 years old (compared with only 28 percent in China). That makes Africa the world most important market of Tomorrow.
Specifics of the African market
Data research in Africa is usually based on standard occidental techniques: segmentation based on age, gender, revenues, etc. African communities specific culture and behavior are not accounted for. Avako’s researchers work thoroughly on finding, testing and proving new data acquisition techniques and marketing analysis that are tailored to the African market. Cultural traditions, religious practices, importance of social relationships and other aspects of the daily life take an important place in the business world and are not captures by the existing occidental models.
Our solutions for analyzing the African market
Avako provides all types of modeling based on data: prediction models, financial models, scenario generation models, credit rating, scoring, marketing strategy simulations, etc. All of these models are based on information collected from African consumers or businesses. Distribution models for example explain how in an area dominated by people at the base of the pyramide, large distribution companies cannot succeed because the social relationship between the buyer and the seller is a key driver of the decision to buy.