Home care continues to benefit from the COVID-19 pandemic as consumers keep their homes scrupulously clean. However, the industry now faces some challenges due to the global inflation rates and fuel price hikes which mean manufacturing is now more expensive, and therefore prices are increasing and household incomes are struggling.
In 2022, inflation is rising sharply, especially on food items and transportation which is putting pressure on household incomes. As a result, home care is being negatively impacted as consumers are likely to cut their spending on such products and prioritise more essential purchases instead.
Social and business activities have returned to normal in 2022, with little to no restrictions on social gatherings. However, masks remain mandatory during indoor gatherings, even though consumers, in general, do not follow this.
The total population reached 29.4 million in 2021, which is 8% higher than previous estimates.
Modern retailing is growing well in Cote d’Ivoire, with new outlets by chained retailers opening every year in the main cities of Abidjan, Yamoussoukro, and San Pedro. As the number of outlets increases, proximity also increases which means the share of informal and traditional retailers slowly decreases.
Home care is anticipated to post steady growth over the forecast period supported by population growth, however, ongoing inflation rates will continue to influence consumer spending.
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This report originates from Passport, our Home Care research and analysis database.
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