Analyst Insight by Karen Van Diesen
The Muslim world represents a key consumer base, with underserved needs and rising spending power. There are approximately two billion Muslims in the world, accounting for nearly 30% of the global population. This share of the general population is set to grow even higher, as the number of Muslims is expected to increase at a pace of 1.4% per year globally. Alongside a thriving Islamic economy, there is growing demand for Islamic fashion apparel. In 2013, the 57 countries that belong to the Organisation of Islamic Cooperation accounted for 7% of total value sales of apparel and footwear. By 2018, this figure is forecasted by Euromonitor International to rise to over 9%.
Muslim fashion apparel is a key area that companies should explore. One reason for this is that there has been a change in mind set over the years. Muslims increasingly see clothing as a way of expressing their fashion sense, along with their religious and cultural values. Unfortunately, Islamic fashion apparel offerings have been limited, and there is no single Islamic brand catering to the fashion needs of the Muslim population globally. Thus, there is an opportunity for modern Islamic fashion brands to be showcased.
Source: Citra Style
Continue reading "Is Islamic Fashion Apparel a Missed Opportunity?" »
Analyst Insight by Oru Mohiuddin - Senior Beauty and Personal Care Analyst
Euromonitor International is pleased to present an interview with Eryca Freemantle, a global industry intelligence expert, a TV producer and presenter, and an award-winning international celebrity make-up artist, specialising in corrective make-up. Eryca sits on the board of Panel of Experts at the London College of Fashion and is an advocate for multicultural beauty, actively engaged in organising expos and trade fairs. She also serves as a consultant for multinational brands looking to enter the beauty market in Africa. She regularly appears on leading television channels, including Bloomberg and CNN speaking about the expanse of multicultural beauty.
Continue reading "Multicultural Beauty: Eryca Freemantle on Women of Colour" »
Grape production in Africa remains relatively high and grape farmers often have wineries on their respective farms. This has resulted in the local wines dominating the wines market in South Africa. In the 5 year period leading up to 2013, fine wines/champagne and spirits have seen value growth of 12%, to reach R1 billion. Fine wines posted the highest value growth during the review period because consumers’ desire to uphold reputable statuses in their respective communities often pushes them to consume luxury brands in public places, such as bars, restaurants, as well as night clubs, where people may notice them and such acts would boost their egos. The hosting of exclusive social events to enhance brand image has been on the rise in South Africa with the J&B MET horse race being one example where the J&B brand would be exclusively sold with an aim to create long-lasting brand awareness.
Continue reading "Local Wines Dominate In South Africa" »
Internet retailing continues to see growth in value terms across South Africa. The main growth driver has been the increasing number of internet users in the country mainly because of greater internet accessibility which in turn boosts the value sales of internet retailing.
In previous years, the disparity between incomes in South Africa has had an impact on the performance of internet retailing. The high costs of bandwidth did not allow low-income and middle to low-income consumers to have access to the internet at home. As a result, only 11% of the total population had access to the internet.
Christy Tawii, Research Analyst, says “Internet retailing has seen a 20% - 30% value growth mainly because of the convenience, expansion of digital devices such as tablets and smart phones and increased competition within the online retailing segment.”
Continue reading "Internet Retailing Increases by 25% in South Africa" »
Alongside the tragic human cost of the Ebola outbreak in Africa, there is also a severe economic impact. It is raising the cost of foodstuffs and heightening the need for spending on healthcare infrastructure. This could trigger a rise in public debt and general government budget deficits in affected countries, as government struggle to divert enough financial resources to contain the outbreak. Nigeria’s outbreak is especially damaging as it is a key emerging market. It accounted for 33.7% of total GDP in Sub-Saharan Africa in 2013 and is one of the main catalysts for Africa’s rising economic prosperity. Tourism has also been hit in Sub Saharan Africa even in countries that are currently unaffected by the virus, which is likely to negatively impact real GDP growth in the region.
Continue reading "Ebola Could Impact Africa's Business Landscape for Years to Come" »
Many emerging tourism destinations in Africa have identified surfing as a target market, reveals the WTM Global Trends Report 2014 by Euromonitor International, first released on Monday 3 November at World Travel Market.
South Africa has an established reputation with the international surfing community but other countries are gaining a foothold. Sierra Leone hosted a week-long competition and festival this September while Ghana will host the Africa Surf Series next year.
Some specialist tour operators are already active in the region. Family surfing holidays in Madagascar, Zanzibar and Mozambique are available from South African tour operator All Aboard Travel, while UK-based Errant Surf includes Morocco, Ghana, South Africa and Mozambique among its surf adventures itineraries. Other countries with potential include Liberia, Cote d'Ivoire, Cape Verde and Senegal.
Continue reading "Africa Tipped to Become Surfing Capital of the World" »
Analyst Insight by Amin Alkhatib - Alcoholic Drinks Analyst
Global brewers’ key problem these days is that they are facing up to stagnant or declining beer volume sales. According to Euromonitor, beer volume sales grew by a measly 1% in 2013. The beer industry is looking for ways to reverse that performance, and one way SABMiller Plc. is taking is by diversifying its fast-moving goods basket.
SABMiller has shown its interest in strengthening its hold of its key regional operation with a $3 billion merger of its bottling assets with Coca-Cola in South and East Africa. This merger will create the region’s largest bottling operation for soft drinks that will serve 12 African markets. SAB will hold 57% of the new business whilst Coca-Cola will own 11%, and the remainder will be owned by Gutsche Family Investments, a major shareholder in Coca-Cola’s African bottling operations.
Continue reading "SABMiller and Coca-Cola Africa: Moving into the Right Direction" »
Analyst Insight by Pavel Marceux - Technology, Communications and Media
Euromonitor International has identified the top three most prospective broadband Internet markets among emerging economies worldwide, based on fixed and mobile broadband growth since 2008, size of the Internet user base and prospects going forward. The standout markets are Iran, Nigeria and Indonesia, as these countries are witnessing a rapid connectivity programme that is allowing their large populations to become regular consumers of online services. As rural and underserved areas gain access to modernised broadband connections, these markets provide huge opportunities in the uptake of e-commerce, social media and digital subscription products.
Mobile and Fixed Broadband Subscriptions in Iran, Nigeria and Indonesia: 2014
Source: Euromonitor International from International Telecommunications Union/OECD/national statistics
Note: Figures are forecast
Continue reading "Top 3 Emerging Broadband Markets: Iran, Nigeria and Indonesia" »
by Caroline Bremner - Head of Travel and Tourism Research
Taking advantage of being in Uganda, I combined my speaker engagement at the Africa Travel Association's World Summit with a trip to local projects run by our global charity partner, Just a Drop. Just a Drop currently receive 1% of all our online sales. The experience was inspirational, humbling yet shocking and, despite the abject poverty, I came away with a sense of hope for the future of these communities.
Continue reading "Just a Drop Provides Much Needed Resources in Uganda" »