This archive report was first published on 2 July 2020.
As the COVID-19 pandemic continues to wreak havoc on the global economy, a new report by SCANAD has shed light on the drastic shifts in consumer spending habits and routines in Kenya.
Published on July 2, 2020, the report, titled ‘Understanding the New Normal Consumer’, aims to help brands navigate the changing consumer environment and maintain demand in these unprecedented times.
According to the report, 84% of consumers are grappling with financial uncertainty, with 40% being financially vulnerable and less than 30% hopeful of a financial rebound in three months. The remaining consumers are looking at a recovery period of 6-12 months.
The report also highlights the significant impact of the pandemic on Kenyan households and businesses, with over half of the employed population receiving a salary cut and an estimated 435,000 Kenyans losing their jobs. Furthermore, 47% of those affected are relying on food donations to survive.
SCANAD Chief Executive Officer Sandeep Madan emphasized the need for brands to take responsibility and lead in these challenging times, rather than capitalizing on the crisis. He noted that the pandemic has brought about a new breed of consumers, and brands must act beyond communication to serve new needs and maintain brand momentum.
The report is available for download on www.SCANAD.com.
