From Ventures Africa Kenya is the second most formalized retail economy in Africa after South Africa, a survey carried out by the New York Stock Exchange-listed research company, Nielsen has revealed.
The consumer report focusing on five sub-Saharan Africa economies, which was released on Monday, indicates that 30 percent of Kenyans shop in proper retail outlets compared to 60 percent in South Africa.
The commercial powerhouse of East Africa is ranked ahead of Ghana which has only four percent of its population patronizing retail shops. It also tops Cameroon and Nigeria, both of which have two percent of shoppers visiting supermarkets. “Even in Kenya, regarded as one of Africa’s most developed retail markets, traditional trade still accounts for 70 percent of sales,” noted the Nielsen report. The 41 percent who visit formal retail outlets do so to explore the wide variety offered by these outlets. The most widely spread shops in Kenya are table tops, kiosks, market stalls, cosmetic outlets, telecom kiosks, drugs (pharmacists) and catering and leisure shops. 20 percent of traditional stores in Kenya are convenience outlets while 33 percent are groceries.