Luxury Goods Retailing in Middle East & Africa, 2014-2019
Luxury goods retail sales in the Middle East and Africa (MEA) are expected to remain strong, growing at a CAGR of 7.2% during the forecast period. The rising middle class population, surging purchasing power, better educated young millennials, and government initiatives to boost tourism are driving growth in the region. New luxurious spaces such as the Boulevard Mall in Jeddah, Saudi Arabia and the Sandton Diamond Walk in Johannesburg, South Africa have created new high-end retail avenues for brands to expand and enter these countries. Likewise, a mega-store by the Chalhoub group in Abu Dhabi, Saudi Arabia, and the Azrieli Sarona upscale mall in Israel, are planned to open in late 2015 and 2017 respectively, which will further drive more luxury players in the region.
The luxury goods market in the Middle East and Africa will experience the fastest growth worldwide, growing at a CAGR of 7.2% during 2014-2019, despite conservative shopping behavior expected from oil exporting countries, due to a fall in oil prices, and from mature markets such as the UAE
The UAE is the largest luxury goods market in the region
With a relatively strong economy, increasing religious tourism, favorable demographics, and surging spending by young consumers, Saudi Arabia remains the fastest growing luxury market in the region
Personal care is the fastest growing category, benefitted by women’s aspirations and the rising sales of luxury fragrances through duty free stores
Favorable demographics and increasing retailer activity will spur the growth of luxury goods in South Africa
LVMH takes more than a quarter share of total luxury goods market in the region
The “Luxury Goods Retailing in Middle East & Africa, 2014-2019 report published by Conlumino provides a comprehensive view of the Luxury Goods retail landscape in Middle East & Africa. It includes:
Current market sizes and forecasts to 2019 by country and category; Covers 5 countries in Middle East & Africa – Egypt, Israel, Saudi Arabia, South Africa, UAE and 12 categories - Clothing, Jewelry, watches and accessories, Drinks, Personal care, Home furniture and Homewares, Luggage and leather goods, Footwear, Communications equipment, Tobacco, Stationery, Consumer electronics and Others
Highlights the region's fastest growing markets for the categories; also provides market data by categories and penetration of luxury retail sales in total retail sales.
Details market size forecasts for each country in Middle East & Africa, and features major luxury brands, mergers and acquisitions and luxury retail trends
Provides analysis of Kering S.A product portfolio expansion and growth strategies.
Reasons To Buy
Get accurate and reliable luxury retail sales data of five countries in Middle east and Africa for 2014 and forecast for 2019 to identify the largest and fastest-growing market and to discover profitable markets for expansion/entry
Explore an in-depth analysis of luxury retail sales data by categories to spot and target key categories in each country, to analyze current and future growth prospects and develop strategies for category/country you are interested in
Learn from consumer insights and luxury retail trends and define your strategies based on the need of consumers and luxury retail landscape in the region
Make country level comparisons to effectively target new revenue streams and align your marketing strategies with the crucial trends influencing consumer behavior
Understand competitive positioning based on the information on market shares, store count and latest developments for key luxury retailers in the region
Track brand expansion and growth strategy of Kering S.A through a detailed case study
Gain information on all major mergers and acquisitions of luxury brands to understand the luxury market space and acquisition strategies of competitors
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