Leading Kenyan brand consultancy BSD Group and market research firm Ipsos in Kenya have released the 4th edition of “The Top 100 Most Loved Brands by Women in Kenya”. The study reveals that M-Pesa, Safaricom, and Equity Bank have secured the top three spots in the hearts of Kenyan women for 2024.
The comprehensive study establishes the substantial influence of women consumers as a vital segment of the Kenyan market. Other brands joining the top 10 include Samsung, Ajab, Naivas, Airtel, KCB Bank, Menengai, and Apple – showcasing a dynamic shift in consumer preferences since the 2023 rankings.
This landmark study, unique in its focus on female consumers, provides critical insights that empower businesses to unlock growth opportunities by understanding the preferences of Kenyan women.
Key Findings: How Kenyan Women Choose Their Favourites
The data collected identifies the primary reasons behind these brand rankings. Notably, many Kenyan women cite their role as principal shoppers within households as a major factor in their buying choices. The study also shows how the female market impacts brand reputation and financial success.
Businesses are urged to prioritize data-driven strategies, as the study reveals the motivations driving women’s purchasing decisions. One of the most significant issues impacting Kenyan women in 2024 is the rising cost of living, which affects their daily spending habits.
The research delves deeper, offering a multifaceted view of Kenyan women’s experiences:
- Care Economy: The household profile reveals that 28% of women face challenges balancing careers and family life, especially in urban areas.
- Healthcare: With 69% of women as key decision-makers on healthcare matters, this sector presents significant opportunities for targeted services.
- Retail and Beverage: Grocery shopping rests primarily with women (70%), with e-commerce use doubling since 2023. Brand loyalty remains strong among this segment.
- Financial Services: Aligning with the rising cost of living, women use banking products (64%) almost as often as money lending platforms (58%). However, there’s greater autonomy in choosing lending platforms.
- Tech: About half of women mobile phone owners use smartphones, and daily usage of mobile money applications has surged to 54% in 2024.
High cost of living:
The data highlights that the high cost of living is inextricably linked to other issues impacting women, such as domestic abuse and barriers to education. Addressing these complex challenges requires collaboration and strategies that address their interrelated nature.
“This study gives businesses invaluable insights to create products and services that specifically address the needs and aspirations of this bankable demographic. As the market landscape evolves, relying on this data for strategic decisions offers brands a competitive edge,” says Ms. Eva Muraya, Founder and CEO, BSD Group.
Chris Githaiga, Ipsos Kenya Managing Director, highlights the missed opportunities in overlooking women consumers: “This is a growth engine waiting to be tapped. Women’s economic participation and purchasing power drive multiple market segments. Our latest data shows an increased percentage of female-headed Kenyan households – businesses need to adapt their strategies accordingly.”
Investing in women through economic empowerment, education, and healthcare is not only a matter of equality but also translates directly to expanded markets and overall economic growth.
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