Buyers across different purchasing classes are opting for affordable brands because of budget constraints brought forth by the high cost of living.
This according to according to the superbrands consumer insights survey by East Africa’s market research agency, Kantar TNS, indicates that the shift to low-value brands is no longer solely for the mass market but is also more visible to even the middle-class consumer.
The report reveals that consumers are seen to be shunning premium goods and buying cheaper options amid reduced disposable incomes as sectors that have been affected include fast-moving consumer goods and household items.
Mr. David Ogara, manager, Kantar TNS said, “With the middle-class consumer now experiencing brands across different price points in search of low-cost, higher value alternatives are better informed and more selective. This now places them in a better position to truly decide which brands they believe are superbrands across the different categories. The Kenyan consumer of today wants innovation and functionality.”
Numerous household items that have recorded a rise in prices include wheat and maize flour, detergents, bar soaps, cooking oil, and fresh packeted milk.
Medical and hygiene brands showed an improvement in this year’s survey, for example, Jik was up to three from rank 36 in 2020, St. John Ambulance to 19 from rank 51, and Dettol up to six from rank nine.
No betting company featured in the top 20 ranking due to reduced consumer disposable incomes.