Welcome to this week's Market Mosaic, where we dive deep into the latest consumer insights shaping global markets that we have been monitoring closely over the past week.

We unpack the mobile commerce revolution, look at the delicate balance of consumer sentiment in an inflationary environment, explore how conscious consumers are driving 2024's sales outlook and others.

Let's guide you through the interconnected forces forming today's market realities and tomorrow's business strategies.

— Insights Team, Rwazi

SECTOR PERFORMANCE TRACKER

TECHNOLOGY & INNOVATION
How your smartphone became the world's biggest mall

Mobile commerce is fast rising at breakneck speed, reshaping how consumers interact with brands and make purchases.

Key stats:

• Global mobile commerce sales are projected to reach $4.5 trillion in 2024, accounting for 72.9% of total e-commerce sales

• Mobile apps now drive 57% of all digital sales for top retailers

Consumer behaviour shift: Our data analysis shows that 68% of consumers prefer using mobile apps for shopping over mobile websites, citing better user experience and personalized recommendations as key factors.

Key Insight: As mobile devices become the primary shopping tool for consumers, brands must prioritize mobile-first strategies, focusing on app development and social commerce integration to stay competitive.

FINANCIAL SERVICES
The inflation impact

Inflation continues to be a significant factor shaping consumer financial behaviours and expectations in 2024.

Consumer response: Our data analysis shows consumers in both emerging and advanced markets consider inflation a very big problem, influencing their financial decisions and lifestyle choices.

Emerging trend: Consumer interest in inflation-protected securities (TIPS) and I-bonds has surged, with sales increasing by 37% year-over-year.

Product innovation: Fintech companies are launching new products designed to help consumers combat inflation, with features that automatically adjust financial services to users based on inflation rates.

Key Insight: Financial service providers must focus on educating consumers about inflation-resistant strategies and offer innovative products that help protect purchasing power in an inflationary environment.

CONSUMER GOODS & RETAIL
Navigating the rise of the conscious, hybrid shopper

The consumer goods and retail sector is navigating a complex landscape of economic uncertainties and evolving consumer preferences.

Market overview: According to top sources we gathered, retail sales are set to grow between 3.5% and 4.5% in 2024, reaching more than $5.2 trillion despite ongoing economic challenges.

Consumer shift: The rise of the "hybrid consumer" continues, with 48% of shoppers using both online and in-store channels for a single purchase journey.

Key Insight: Brands need to adapt to the conscious, hybrid consumer by offering transparent sustainability practices, seamless omnichannel experiences, and products that offer both quality and value.

SUPPLY CHAIN & LOGISTICS
Time to manage the risks well

Our data analysis found that consumers are reporting they experienced product shortages or delays in the past six months due to supply chain disruptions.

Risk mitigation strategies:

• Companies plan to increase nearshoring or reshoring efforts in 2024

• Investment in supply chain visibility technologies is expected to grow by 25% this year.

Key Insight: Brands must prioritize supply chain resilience through diversification, technology adoption, and improved visibility to meet consumer expectations for product availability and timely delivery.

COMPETITIVE WATCH
Quick takes on competitive trends

• Tech: Mobile commerce apps see 72% growth, with social shopping features driving adoption.

• Retail: Sustainable brands capture 65% more market share, led by durable goods manufacturers.

• Finance: Inflation-hedging fintech products surge 37%, outpacing traditional banking offerings.

• Supply Chain: Nearshoring initiatives up 67% as companies prioritize supply chain resilience.

WHAT HAS BEEN HAPPENING AT RWAZI?
Rwazi’s AI-Driven market intelligence 📊

Our AI-driven platform analyzes real-time insights from millions of products and global consumer behaviours. This innovation allows brands to perfectly fine-tune their strategies, staying ahead in a dynamic market.

Rwazi’s AI capabilities are setting new standards in market intelligence, driving growth through actionable, data-driven insights.

Read our feature on Disrupt Africa here

Thank you for reading and joining us on Market Mosaic this week. We hope this edition provides valuable, actionable insights for deciding with data. 📊 You can also read an extended version here.

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