This archive report was first published on 19 June 2020.
On the back of a new report highlighting the impact of the COVID-19 pandemic on commerce in Kenya, Visa has launched its 'Where You Shop Matters' initiative to champion and enable entrepreneurs in the country.
According to the report, the pandemic has led to increased anxiety among consumers, with many opting to stay away from all but essential retail. The report, titled the COVID-19 CEMEA Impact Tracker, found that 65 per cent of consumers polled reported going grocery shopping less often, while 49 per cent reported taking public transportation less often.
However, the report also highlights a shift towards online commerce, with cash transactions being replaced by digital payments. The study found that 39 per cent of consumers surveyed say that COVID-19 has led to their first online grocery purchase, while 43 per cent have made their first online purchase from pharmacies.
“The pandemic is impacting business everywhere. The findings of the COVID-19 CEMEA Impact Tracker suggest shoppers have changed how they shop and this is already having a major impact on how merchants do business,” said Corine Mbiaketcha, General Manager for East Africa at Visa.
Visa's 'Where You Shop Matters' initiative aims to help support small businesses through the Visa Small Business Hub, a merchant platform providing tools and information on how to start, run and grow small businesses. The platform will also feature leading merchants who embody the passion and entrepreneurship of small businesses across Kenya.
“The ‘Where You Shop Matters’ initiative aims to help support them and champion the local small businesses that serve as the backbone of our communities,” Mbiaketcha added.
