LONDON, (The Southern African Times) – Leveraging on accurate and readily available data is important for business growth and boosting the confidence of entrepreneurs.
Not only does it help them assess a possible number of customers, but also to plan well.
This was shared during talks on the fashion industry held by the African Development Bank (AfDB) late last month.
More than 4,5 billion active internet users, or 60% of the world’s population, have an online presence, according to Statista, an online market and consumer data firm.
Tapping into that audience is critical to grow businesses and brands, said the AfDB in a statement.
According to the bank, there is a need to explore ways to leverage digital media platforms to boost African fashion.
Digital platforms, like Instagram and Facebook can serve as online studios and runways, playing a pivotal role in African fashion entrepreneurs growing their businesses, and advancing the ‘Made in Africa’ movement, the statement read.
“Social media is one of the most relevant marketing channels and a strategic tool for African fashion brands to stay relevant, interact with their customers and formulate effective strategies to increase sales,” said Bintou Sadio Diallo, cultural and creative industries expert at the bank.
Morin Oluwole, global head of luxury at Facebook said collaboration with media, publishers and creators could ensure alignment with the industry’s different priorities and make sure that African talent finds a global audience.