African affluent millennials put their communities ahead of financial gain, and choose brands that are committed to social responsibility.
Following BBC Global News’s award-winning Affluent Millennials
study two years ago, the broadcaster conducted an in-depth study into the mind-set and behaviours of this group within Africa.
Looking at five markets - Nigeria, South Africa, Ghana, Kenya and Tanzania - BBC sampled more than 2,000 millennials’ attitudes to brands across the banking and finance, luxury, travel and technology sectors. The research
uncovered some interesting results, showing the difference between African affluent millennials and their global counterparts.
One of the key findings from the survey was that African affluent millennials look towards brands committed to social responsibility, and that are making positive change in their communities. This group want to be changemakers and they identify with brands that share that vision and contribute directly to improving African quality of life - they’re over 200% more likely to put their community before financial gain than their non-affluent counterparts.
In a continent of fast-paced change and growth, this finding is indicative of how rooted to their communities African affluent millennials remain, despite their likelihood to travel. They are almost twice as likely to travel abroad – whether for business or leisure – than their global counterparts.
“We conducted this research to uncover how Africa’s Affluent Millennials respond to brands, and what it is that encourages them to consider a brand in the decision-making process,” says Dr Hamish McPharlin, head of insights at BBC Global News. “This study is indicative of how this group prefers to be communicated to, and what might influence them to make a purchase.”
As well as being dedicated to change and progress, and wanting to see more social action from brands, African affluent millennials are also influenced by rich media and storytelling. The group is 30% more likely to find sponsored content influential compared to their global peers, reflective of the continent’s history and heritage in evocative, oral traditions.
“These insights can have significant impact on a brand’s campaign when targeting affluent millennials in Africa,” said Warren Harding, regional director Africa, BBC Global News. “BBC.com reaches one in five African affluent millennials every week – more than any other international news provider – so we understand how to reach this demographic and speak their language.”