{"id":6890,"date":"2021-10-26T15:16:09","date_gmt":"2021-10-26T20:16:09","guid":{"rendered":"https:\/\/blog.bindy.com\/?p=6890"},"modified":"2023-09-08T09:09:36","modified_gmt":"2023-09-08T13:09:36","slug":"afrikada-perakende-gercekleri-ve-ortaya-cikan-trendler","status":"publish","type":"post","link":"https:\/\/blog.bindy.com\/tr\/retail-in-africa-facts-and-emerging-trends\/","title":{"rendered":"Afrika'da Perakende: Ger\u00e7ekler ve Y\u00fckselen Trendler"},"content":{"rendered":"\n

Emerging technologies, a booming population, and rapidly developing economies are changing the retail landscape of Africa. Below, interesting facts and trends shaping the future of African retail.<\/p>\n\n\n\n

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Durban, SA <\/figcaption><\/figure>\n\n\n\n

Image Credit: Shutterstock<\/p>\n\n\n\n

Demographics and UrbaniZation<\/h2>\n\n\n\n

Africa has the fastest rate of urbanization<\/a> in the world. More than 40% of its population is currently living in urban centers. By 2030, Africa\u2019s 18 largest cities will have a combined spending power of $1.3 trillion<\/a>. Additionally, Africa has as many cities<\/a> with one million inhabitants as North America.<\/p>\n\n\n\n

Moreover, Africa is on track to become the continent with the world’s youngest population. Approximately 70%<\/a> of Africans are presently under the age of 30. Youth account for around 20% of the population. Fifty three percent<\/a> of African income earners are between 16 – 34 years old. This is an age group known for their awareness of and eagerness to consume new products.<\/p>\n\n\n\n

The Rise of Retail<\/h2>\n\n\n\n

A growing population and larger cities translate into big opportunities for retail.<\/p>\n\n\n\n

For instance, wholesale and retail are already the 3rd<\/a> largest contributor to Nigeria\u2019s GDP. Kenya has seen a 54%<\/a> growth in its number of stores over the last 5 years. South Africa has almost 2,000<\/a> shopping malls covering over 24 million square meters. With a surge of investment<\/a> in technology and infrastructure, Johannesburg is poised to become “Africa’s hippest city<\/a>.” The newly revitalized neighborhood of Maboneng boasts trendy restaurants, luxury hotels, and galleries.<\/p>\n\n\n\n

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A post shared by Sho\u2019t Left (@shotleft)<\/a><\/p><\/div><\/blockquote>