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E-mail Advertising - Ghana

Ghana

Ad spending in the E-mail Advertising market in Ghana is forecasted to reach US$3.93m in 2024.
The sector is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 1.53%, leading to a projected market size of US$4.24m by 2029.
When compared globally, the United States will contribute the most to ad spending (US$3,396.00m in 2024).
The projected average ad spending per internet user in the E-mail Advertising market in Ghana is estimated to be US$0.12 in 2024.
Ghana's E-mail Advertising market is witnessing a surge in personalized campaigns, leveraging local insights to drive engagement and conversion rates.

Key regions: Japan, Germany, United States, Europe, Asia

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Analyst Opinion

The Email Advertising market in Ghana has been experiencing significant growth in recent years.

Customer preferences: Ghanaian consumers have shown a growing interest in email advertising as a means of receiving promotional offers, discounts, and updates from their favorite brands. This preference can be attributed to the convenience and personalization that email advertising offers. With the increasing use of smartphones and internet penetration in Ghana, consumers are more likely to check their emails regularly, making email advertising an effective way for brands to reach their target audience.

Trends in the market: One of the key trends in the Email Advertising market in Ghana is the rise of mobile email usage. With the majority of Ghanaians accessing the internet through their smartphones, brands have recognized the importance of optimizing their email campaigns for mobile devices. This trend has led to the development of responsive email designs that adapt to different screen sizes, ensuring a seamless user experience for mobile users. Another trend in the Email Advertising market in Ghana is the growing emphasis on personalization. Brands are increasingly using data analytics and segmentation techniques to tailor their email campaigns to individual consumer preferences. By sending personalized and relevant content, brands can increase engagement and conversion rates, ultimately driving sales and brand loyalty.

Local special circumstances: Ghana has a relatively young population, with a large percentage of its citizens falling within the millennial and Gen Z age groups. These younger generations are more tech-savvy and digitally connected, making them receptive to email advertising. Additionally, Ghana has a growing middle class with increasing disposable income, creating a favorable environment for consumer spending and brand engagement.

Underlying macroeconomic factors: The Ghanaian economy has been experiencing steady growth in recent years, with improvements in infrastructure, telecommunications, and internet connectivity. This has contributed to the increased adoption of digital marketing strategies, including email advertising. Furthermore, the government has implemented policies to promote entrepreneurship and attract foreign investment, which has led to the establishment of more businesses in Ghana. These businesses are leveraging email advertising as a cost-effective and efficient way to reach their target audience and drive sales. In conclusion, the Email Advertising market in Ghana is growing due to customer preferences for convenience and personalization, as well as the increasing use of mobile devices and the favorable macroeconomic conditions. As more brands recognize the potential of email advertising in reaching and engaging with their target audience, the market is expected to continue expanding in the coming years.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on E-mail Advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers the advertising budget used for creating and sending e-mail advertisements.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet coverage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets. The main drivers are GDP per capita, consumer spending per capita, and internet coverage.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.