Potentash
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
    • Interviews
  • Stories
    • The Singlehood Series
    • Fiction
    • Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Entertainment
    • Internet
    • Events
    • Music
    • Books
No Result
View All Result
  • Login
Potentash
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
    • Interviews
  • Stories
    • The Singlehood Series
    • Fiction
    • Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Entertainment
    • Internet
    • Events
    • Music
    • Books
No Result
View All Result
  • Login
Potentash
No Result
View All Result

Safaricom And mSurvey Launch Consumer Wallet To Map Kenya’s Cash Economy

Rayhab Gachango by Rayhab Gachango
29 June 2017
in Business, Lifestyle, News
Reading Time: 3 mins read
25 1
0
31
SHARES
173
VIEWS
FacebookTwitterWhatsApp

In the past decade, there have been very many emerging and changing trends in consumer behaviors which are mostly influenced by lifestyle changes and fluctuations in the economy. A good example of this is how information on consumer behaviors in 2000 are completely outdated in 2017.

A better understanding of social impact of trends, a clearer understanding of what consumers want and how to redefine customer experience is crucial in understanding the information revolution and that’s exactly what the Consumer Wallet intends to do.

Safaricom has partnered with mSurvey to launch Consumer Wallet, a versatile mobile platform that quantifies offline consumer spending habits and trends. The solution leverages mSurvey’s mobile messaging platform to measure and benchmark Kenya’s cash economy.

The beta version of the product was piloted in March 2017 with potential clients and corporate partners. mSurvey leverages SMS to measure the cash based spending drawn from Safaricom’s mobile subscribers. The data is then fed into the Consumer Wallet database benchmarking preferences and expenditures of various items.

Majority of the country’s consumer spending happens at informal businesses, which presents an information gap for businesses looking to explore business opportunities in the sector. Consumer Wallet plugs this gap by providing unprecedented insight into the spending habits of such “offline” consumers.

Since gathering information about your intended target marketing is time consuming, expensive and inconclusive on matters like how to hypothesize trends in spending behaviors, the survey intends to answer questions like:

  1. How do consumers spend? This will in turn share the monthly average amount spent per person and the method of payment used.
  2. Who is your real competition? This is answered with the purchase frequency in each of the 11 categories given in the questionnaire and the proportion of wallet share spent.
  3. How does this change over time? Data shared in real time as a trend over time.

Director of Consumer Business, Safaricom, Sylvia Mulinge said that the Consumer Wallet addresses a pressing business challenge by providing real time collection, assessment and analysis of data that would give businesses in Kenya a similar set of advantages to businesses in Silicon Valley.

Speaking to Safaricom Senior Manager Research and Insights Paul Omondi, the Consumer Wallet will empower businesses with the requisite insights to arrive at more calculated & strategic decisions, giving business owners, entrepreneurs and companies a deeper understanding of consumer needs.

The survey, which engages willing participants, on average takes 7 minutes to complete. It takes in real-life information from daily text messages the participants drawn from Safaricom subscribers and will capture information on preferences and expenditures ranging from transport, food products, housing etc. in trying to understand the dynamic consumer, some of the questions asked include:

  1. What did you buy yesterday?
  2. How much did you spend?
  3. How did you pay?

In turn, Consumer wallet seeks to bridge the information gap that most businesses in Kenya’s robust informal sector faces in order to empower these businesses by providing the much-needed unprecedented insight.

The service will be available on both a subscription and license basis.

Share12Tweet8SendShare2Pin3
Previous Post

Man Around Nairobi: Brian Njagi

Next Post

Safaricom Unveils Ksh. 100 million “Chapa Dimba” Football Challenge

Rayhab Gachango

Rayhab Gachango

Potentash Founder. A creative writer. The Managing Editor at Potentash. Passionate about telling African stories and stories about the inclusion of minorities. Find me at [email protected]. “We're all stories, in the end.” ― Steven Moffat

Next Post
Safaricom Unveils Ksh. 100 million “Chapa Dimba” Football Challenge

Safaricom Unveils Ksh. 100 million "Chapa Dimba" Football Challenge

Please login to join discussion

Recommended

Fashion: 5 Casual Smart Ideas For Men

Fashion: 5 Casual Smart Ideas For Men

8 April 2020
175
She Made A Life Changing Decision But She Wasn’t Sure Her Partner Would Stay With Her After It

The Singlehood Series: When His Love Is A Poisoned Arrow But You Keep Running Back To Him

20 January 2021
726

Popular Stories

  • The Singlehood Series: I Went On A Date With A Vegetarian Who Asked Me Not To Order Meat

    Opinion: On Men Leaving Their First ‘Struggle’ Wives After Becoming Successful

    620 shares
    Share 248 Tweet 155
  • We Met At A Funeral, And For A While, Grief Felt Just Like Love

    4 shares
    Share 1 Tweet 1
  • The Singlehood Series: I Left Her After She Met My Parents Because Some Red Flags Became Visible During The Visit

    4 shares
    Share 1 Tweet 1
  • The Man She Loved Turned Out To Be A Monster

    5 shares
    Share 1 Tweet 1
  • The Singlehood Series: My Gym Trainer Keeps Flirting With Me And Now People Think He Is My Boyfriend

    59 shares
    Share 23 Tweet 15

Potentash Blog

Potentash is an award-winning lifestyle blog. We publish lifestyle content that intersects with health, women, beauty, travel, business, relationships, finances and entertainment.

Explore

  • The Singlehood Series
  • From Stairs To Ramps
  • Man Around Nairobi
  • Pearls And Heels
  • Personal Finance
  • Food + Beverage
  • Editor’s Pick
  • Reviews

Get the Potentash Newsletter

  • Newsletter Archive
  • Subscribe
  • Frequently Asked Questions
  • Privacy Policy
  • Contact Us

Copyright © 2023. Potentash, In Partnership with Decima

Welcome Back!

Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
No Result
View All Result
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
    • Interviews
  • Stories
    • The Singlehood Series
    • Fiction
    • Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Entertainment
    • Internet
    • Events
    • Music
    • Books

Copyright © 2023. Potentash, In Partnership with Decima