M-Pesa Scoops the 2024 Top Most Loved Brands by Women in Kenya
M-Pesa Scoops the 2024 Top Most Loved Brands by Women in Kenya

BSD Group, Ipsos Survey Reveals Most Loved Brands by Women in Kenya

M-Pesa, Safaricom and Equity Bank respectively have been ranked as the top most loved brands by women in Kenya in 2024.

This follows the latest release of the 4th edition of The Top 100 Most Loved Brands by Women in Kenya today by Kenya’s leading brand and communication consultancy firm, BSD Group and market research and consulting firm, Ipsos in Kenya.

The Study establishes the authority of women consumers as an emerging, significant and profitable consumer market.

Other brands that merged in the top 10 included Samsung, Ajab, Naivas, Airtel, KCB Bank, Menengai and Apple respectively, indicating a shift in consumer choice and brand preference when compared to 2023’s ranking.

The Top 100 MLB by Women Study is the first of its kind to be done in the country and the continent with a focus on insights that inform, empower and enrich understanding of women’s markets to unlock growth for businesses and brands.

Insights drawn from the study elaborate on how the Kenyan woman drives consumer purchase decisions within her household as the primary shopper.

The study also details key reasons why the Top 100 brands made it to the 4th edition based on data collected and how women’s markets contribute to the financial and reputational performance of brands and organisations.

Further, the study highlights the reasons behind women’s purchase decisions and therefore points out the need for the utilisation of data-driven business methods and strategies.

The most pressing issue affecting women is the high cost of living which influences daily purchase decision-making.

Other highlights of the Study included:

The Care Economy – Household profile

  • 28% of women are concerned about balancing work and family responsibilities. Urban dwellers are significantly affected by this.
  • .8% of young single mothers, more than 5.9% in 2023, live with their children and parents.
  • At least 2 out of 5 (43%) of these households, the woman leaves financial planning to someone else – likely her parents.
  • 4% of women live with someone who is differently-abled.

 Healthcare

  • Over the last 4 years, the Study has had 8 to 14 healthcare brands (county hospitals and dispensaries) feature in the Top 100 Most Loved Brands list.
  • 69% or 7 out of 10 women are key decision-makers regarding the purchase of medicine and use of healthcare facilities

Retail and Beverage

  • 7 / 10 women are financial decision-makers regarding the retail outlets they shop from. The retail sector has a loyal and stable customer base, even as e-commerce rises in 2024 with the number of women shopping doubling in 2023.

–       70% of women personally shop for groceries.

–       92% of women are loyal to their favourite retail outlets

–       12% shop on e-commerce platforms – the number of women shopping online has doubled from 2023

  • There is a shift from women as passive consumers of alcohol to purchase decision-makers. In 2024, the Study observed the highest proportion of women playing this role versus 2021 to 2023

Financial Services

  • In tandem with the high cost of living – the most pressing issue affecting women today; women are using banking products and services (64%) almost as much as they are using money lending platforms (58%). They are, however, more likely to be decision-makers regarding the money-lending platforms they use (33%) than the banking products and services they use (29%)
  • Mobile money is used more at 68%, followed by mobile lending platforms at 33%, banking products at 29%, insurance products and services (18%) and Saccos (17%)

 Tech

  • About 1 in 2 women with mobile phones own a smartphone
  • Daily usage of mobile money applications has grown from 36% in 2023 to 54% in 2024

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