Customer analytics

Consumer Wallet: Helping you predict Kenya’s spending behaviour

June 29, 2017

You can now understand Kenyans’ spending behavior through the Consumer Wallet, a collaborative venture between mSurvey and Safaricom. Consumer Wallet seeks to help businesses understand their customers better by giving them access to live consumer insights to develop products and services that appeal to the mass market consumers. “Research as a service is an emerging trend in telcos across the world.” said Victor Ikawa, Head of Research and Insights at Safaricom.

Transformation of the emerging markets is one of our key driving forces at mSurvey. A barrier to this transformation is access to reliable data for decisionmaking. “The few data available on consumers in emerging markets are often expensive to get or outdated to the point of irrelevance,” said Aimee Leidich, Head of Research Design & Strategy at mSurvey, “with Consumer Wallet businesses are able to see in real time, where, when, and how consumers in emerging markets are spending their growing incomes providing a first-ever look into this unique consumer spending journey.”

To this end,  we are mapping out Africa’s cash economy through daily survey conversations with people located across Kenya to give you a first-ever look  into Kenyan’s spending over time. “A key component of product design, market understanding, marketing and translation of consumers’ awareness into sales is the consumers’ ability and flexibility to spend.” Samuel Kamande, Data Scientist Lead at mSurvey adds, “What are consumers spending more on? How does this change over time in relation to the economic situation? Consumer Wallet provides a comprehensive understanding of this.”

Safaricom, a leading mobile network operator with the largest network coverage in East and Central Africa has more than 25 million mobile subscribers in Kenya alone. Both mSurvey and Safaricom have a shared passion to transform lives across the country. Safaricom is currently revolutionizing mobile money in emerging markets, most notably the promotion of  women’s financial inclusion in the region. Our partnership on Consumer Wallet seeks to open up Africa’s cash economy to the rest of the world and boost investment in the region by providing insights straight from consumers to businesses and entrepreneurs.

We get detailed insights from our daily conversations with Kenyans which we then use to analyze and predict their spending patterns across various categories, sub-categories and even brands. Take for instance our conversation with Korir, a 32 year old small scale farmer. We learnt from the Consumer Wallet that he is a medium spender, with a monthly spend of Ksh 12,000. He spends almost the same amount on food as he does on alcoholic drinks monthly, with food amounting to Ksh. 2,400 and slightly more on alcoholic drinks at Ksh. 2,500. On the other hand we have Mary, a 45 year old business owner who lives in Nairobi. She is a high spender and uses up to Ksh. 50,000 a month on high end household goods. Consumer Wallet enables you to engage at scale with customers like Mary and Korir and access their feedback in real time.

Kamande asserts his confidence in the Consumer Wallet’s technology, noting our ability to have real time targeted conversations with select groups of consumers, “For example we can noticed that females aged 24-29 in Nairobi spend more on betting compared to any other group in a given month.” He adds that with the Consumer Wallet we’re able to extend the conversation and understand this phenomenon within 24 hours, ultimately predicting trends and patterns at scale.