Online Experience Holds the Key to How Consumers Buy Cars

ONLINE connectivity is changing forever the way consumers are buying vehicles, says Glen Mollink, CEO at Innovation Group SA.

Gone are the days when buyers travelled between dealerships to see what was available, and for how much. Now, "at the click of a button, consumers can find multiple dealerships offering the models they want, in the right colour, at the right mileage and within their area". They could even compare prices. "Connectivity gives consumers massive choice," he said.

 

The change is happening faster in some countries than others. In developed markets, the first time customers visit a showroom may be to close the deal; to see the vehicle and perhaps take a test-drive. That is often not the case in SA, where much of the population still has limited online access. Some domestic motor companies, having started to invest in "virtual" showrooms more than a decade ago, say uptake by South African consumers has been slower than expected.

South African in Recession, says South African Consumers, according to survey

SA is in recession and will not come out of it anytime soon, a majority of consumers who participated in a consumer confidence survey by global performance management company Nielsen Holdings said.

 
The company released its global survey of consumer confidence and spending intentions for the fourth quarter of 2015 on Monday. More than 30,000 online consumers in 60 countries were surveyed.

Electricity Prepaid Meters’ll go round in one Year – NERC

The Nigerian Electricity Regulatory Commission has said that the new electricity tariff regime has the mechanism to meter all consumers within one year.

 

This came on Monday as power distribution companies began the implementation of the new tariffs increased by over 45 per cent despite oppositions from the National Assembly, Manufacturers Association of Nigeria, Nigeria Labour Congress and the Nigerian Electricity Consumers Advocacy Network.

The Acting Head, NERC, Dr Anthony Akah, in an interview with the News Agency of Nigeria in Abuja, said, “The new tariff, besides eliminating fixed charge, has a robust mechanism to ensure that the distribution companies fully meter their consumers and eliminate ‘crazy’ billing within one year.’’

Energy firms overcharging customers, says Ofgem

Dermot Nolan, chief executive of Ofgem, told the BBC that domestic gas and electricity prices should be cheaper "for the vast majority of people".

 

Wholesale energy costs make up nearly half of a domestic bill, and have fallen by about a third in the last 12 to 18 months, he said.

Yet, prices had not fallen, he added.

Energy UK, which represents the major energy energy companies, insisted that there was a competitive market of 34 suppliers and that people should switch for savings of hundreds of pounds.

Nigerian Breweries sales drag on weak consumer spending

 

Nigerian Breweries plc sales rose at the slowest pace in a year as the country’s biggest brewer continues to capitulate to weak consumer spending amid falling oil prices.