NAIROBI, Kenya, Mar 20 – M-Pesa, Safaricom, and Equity Bank have been ranked as the top three most loved brands by women in Kenya.
This is according to the 4th edition of the Top 100 Most Loved Brands by Women in Kenya study conducted by BSD Group and Ipsos.
The study highlighted the significance of women consumers as a profitable market segment and shed light on their role in driving household purchase decisions.
Insights from the study revealed that women are actively involved in decision-making across various sectors, including healthcare, retail, financial services, and technology.
They play a crucial role in shaping consumer preferences and brand loyalty.
According to the study, women are the primary decision-makers in balancing work and family responsibilities, with urban dwellers particularly affected. They also influence decisions regarding healthcare, including medicine purchases and healthcare facility usage.
The study also indicated that women are major financial decision-makers in retail, with a notable increase in online shopping, and are actively utilizing banking and money lending platforms, with mobile money being the most widely used.
“A significant percentage of women own smartphones, with a notable increase in the daily usage of mobile money applications, hence leading to growth of mobile money applications from 36% in 2023 to 54% in 2024,” the report stated.
Additionally, the study highlights the pervasive issue of the high cost of living, which significantly influences women’s purchase decisions.
“The Study provides critical insights and much-needed value to leadership and management in strengthening product and service delivery to a key demographic that has been repeatedly proven to be extremely bankable,” says Eva Muraya, Founder and C.E.O, BSD Group.
“As we navigate a very volatile market environment, those who invest in this data will be able to access insights that provide a strengthened competitive advantage, reputational equity and opportunity for innovations and disruption,” she added.
Additionally, the study highlighted the pervasive issue of the high cost of living, which significantly influences women’s purchase decisions.
Other challenges include domestic abuse, barriers to education, and regional disparities in issues faced by women.
It emphasized the importance of addressing women’s needs and empowering them economically, as they play a critical role in driving economic growth.
Brands that actively engage with women as a key market segment stand to benefit from their influence and purchasing power.
The research aims to bridge the knowledge gap in understanding the female consumer market, providing valuable insights for businesses seeking to tap into this demographic for growth opportunities.
“This is a huge opportunity for most brands that actively seek to engage women as an opportunity for growth since women play a critical role in our economy,” said Ipsos Kenya Managing Director, Chris Githaiga.
“They truly control multiple market segments – through their influence and purchasing power. 69% of women play a key role in purchase of products or services used in their households and on average, 59% of their income goes to household purchases.”
