Egyptian shoppers fine-tune their shopping missions to enhance value for money
Confidence among Egyptian consumers has generally stabilized since its currency was devalued at the end of last year, and there are two reasons for the stabilization:
Inflation is slowing
Consumers have adjusted their spending.
The evidence of the strengthening optimism about the economic landscape across Egypt is evident among consumers, as the country reported a consumer confidence index level of 80 in second-quarter 2018, according to the Conference Board® Global Consumer Confidence Survey, which is produced in collaboration with Nielsen. The index level for the period reflects an increase of 16 points since fourth-quarter 2016 (when the devaluation occured).
As a result of the devaluation, shoppers in Egypt were faced with a new normal to adapt to. With a greater focus on their personal finances, they sought out better deals, no matter where they were, began trying other brands to save money and shifted to different package sizes and formats.
Across the board, consumers had one primary goal: Get the most value for their money by avoiding waste. Nielsen – Read more…