Neo@Ogilvy's global CEO, New-York based Nasreen Madhany, has been visiting South Africa for a corporate summit, where she talked up the role emerging markets will play in the future profitability of her company.
A billion Africans and 50 million bank accounts. In South Africa, credit cards are used by only 16.5% of the population (2008). No African country comes close to 1% of total retail spend spent online - the magic figure which constitutes the tipping point for digital retail growth. No wonder, then, that the ecommerce market in Africa hasn't bloomed.
A global study conducted by TNS Research Surveys shows that South Africans' unconditional love for handsets - more than content as it is in developed markets - is beginning to change and will even shift faster as bandwidth improves, and as cheaper smartphones appear on the market - probably from China.