It is these habits, influenced by affordability and convenience, which are reshaping the dynamics of the Kenyan retail market and spelling doom for top-tier retailers. “You have to understand that even middle class consumers are conscious,’’ Mr Ng’ang’a notes, indicating there is no way the middle class will be willing to pay exorbitant prices for the promise of class and elegance. The “floating” middle class, which Dr Iraki mentions, refers to the group of the middle class that can easily recede into the lower class. Inclusive of the floating middle class, the African Development Bank (AfDB) places the Kenyan middle class at 44.9 per cent and excluding them, the real middle class stands at a low of 16.8 per cent. Large, medium and small retailers are realising they can no longer afford to appeal to just specific segments of the market.

Source: Standard Digital May 30, 2017 10:30 UTC