From 2014 to 2016, Western Union saw its leading position in the money transfer market in Cameroon threatened by the massive arrival of new operators and, above all, by the unprecedented growth of digital solutions and the adoption mobile money services. At the heart of this difficult and highly competitive market, Western Union calls on Media intelligence to provide advice that will enable it to make strategic decisions in order to support its development and maintain its leading position in the market.
A market watch solution has been proposed by Media intelligence in order to continuously monitor all the activities, strategies and innovations carried out by Western Union’s competitors in Cameroon.
Thanks to the solution mentioned above, Media intelligence was able to provide strategic information to Western Union such as:
- The top 5 money transfer operators in Cameroon
- The description of the evolution of the market and a forecast of its life cycle in the next 5 years
- Top notch business models and strategies implemented by money transfer operators
- Potential niche markets for investment
The information provided by Media Intelligence enabled Western Union to better understand the money transfer market in Cameroon and to take the necessary measures that enabled it to face the competition and regain its leadership in the market.