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July 29, 2015

Iran's Grocery Market Poised for Growth Following Nuclear Deal

The Iranian economy is poised to open up after the nuclear deal, and the economy of this market remains largely untapped mainly due to economic sanctions. Grocery retailing is a market that remains largely traditional, with many consumers preferring small format stores with local flair. Due to the new deal, the international financial system may have further incentives to penetrate the food retailing market in Iran.

Bassam-AounVideo features Bassam Aoun - Consulting Analyst

July 14, 2015

Iran’s Dairy Market a Temporary Solution to Russia’s Lockdown and China’s Slowdown

Lianne van den BosAnalyst Insight by Lianne van den Bos - Food Analyst

View Lianne van den Bos's profile on LinkedIn

A number of sanctions against Iran could be suspended by the US and the EU after international inspectors confirmed the country has curbed its nuclear programme. This breakthrough could open up the tenth largest growing dairy market globally, which is expected to hit new (real) sales worth over US$1 billion over 2015-2020, the size of the entire Western European region combined. With Russia’s lockdown and China’s slowdown could Iran be a temporary fix? Iran’s large, young population, which has an open attitude towards new packaged food products, makes it a huge untapped opportunity, one of the few remaining markets to target after Myanmar opened up after political change in 2011. However, if sanctions are lifted this is likely to be a lengthy process and political instability is a key concern when doing business in Iran, making it a less attractive market for foreign investment.

Continue reading "Iran’s Dairy Market a Temporary Solution to Russia’s Lockdown and China’s Slowdown" »

June 15, 2015

Cultural and Religious Barriers: Prospects for Greater Market Penetration of Toilet Paper

Jane-NguyenAnalyst Insight by Jane Nguyen - Research Analyst

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In April 2015, the Turkish Directorate of Religious Affairs announced a new Islamic fatwa which allows Muslims to use toilet paper. If the word spreads and the new rule is adopted by other countries with large Muslim populations, it will be good news for toilet paper manufacturers. They have struggled with low demand in the Muslim world, where water has been traditionally used for cleansing, with toilet paper only playing a supplementary role. Consumers in many other developing markets, not necessarily Muslim or not predominantly Muslim, also often remain loyal to a range of traditional practices for cleansing which do not include toilet paper. The changing toilet etiquette, especially alongside rising incomes and urbanisation, can open a wider window of opportunity for tissue manufacturers. However, success is predicated on manufacturers’ understanding of deeply rooted traditions and the adoption of marketing strategies that work alongside these traditions. 

Continue reading "Cultural and Religious Barriers: Prospects for Greater Market Penetration of Toilet Paper" »

May 24, 2015

Top 3 Drivers of Consumer Expenditure in Emerging and Developing Economies

An HodgsonAnalyst Insight by An Hodgson - Income and Expenditure Manager

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With emerging and developing countries accounting for nearly 90.0% of the global population and in the context of sluggish demand growth in developed markets, insight into what drives and shapes demand in emerging markets is vital in helping businesses grow and succeed. Euromonitor International forecasts that between 2015 and 2030, real consumer spending growth in emerging and developing markets will be three times faster than in developed markets. The top three drivers of this long-term gain will be population growth, rapid urbanisation and rising incomes.

Population and Consumer Expenditure in Emerging and Developing Countries: 2009-2030

Consumer-Expenditure

Source: Euromonitor International from national statistics/Eurostat/UN/OECD

Note: Data for 2015-2030 are forecast; Consumer expenditure data are in constant 2014 prices, fixed exchange rates. 

Continue reading "Top 3 Drivers of Consumer Expenditure in Emerging and Developing Economies" »

May 7, 2015

Sanctions and their Toll – How has Iran Fared?

Bassam-AounAnalyst Insight by Bassam Aoun - Consulting Analyst

Across the globe, the news has spread - there could soon be a new market in town.

Since agreeing on a framework for the easing of sanctions, world powers have indicated that Iran could soon be open for business. The implications here are myriad - foreign direct investment could spike, competition could go from local to international and Iranian consumers could soon find themselves spoiled for choice at the nearby grocery store. Yet the question of how much damage the sanctions have actually caused still remains, as politicians and economists alike argue the extent to which Iran was affected. Regardless of the debate's semantics, the numbers paint a fairly clear picture of the sanctions' toll on the Iranian economy.

The effect on the consumer is readable and more pronounced by the day. Currency woes have stifled purchasing power, dampening growth prospects for several industries. Specifically, between 2009 and 2014, the Iranian Rial has increased in value versus the US Dollar by 162.5%. Furthermore, this ratio is set to further depreciate the currency by 86.7% between 2015 and 2019.

Iran-Sanctions

Continue reading "Sanctions and their Toll – How has Iran Fared?" »

May 1, 2015

Kahvaltı, Networking ve Pazar Öngörüleri için bize katılın

Breakfast-Briefing-Banner

Euromonitor International, Türkiye'de yükselen pazarlardaki trendlerden haberdar olmak için 26  Mayis Salı günü saat10:30-13:00`da Hilton Istanbul Bosphorus otelde gerçekleşecek olan “Breakfast Briefing” etkinliğimize sizi davet etmekten mutluluk duyar.

 

Yerinizi ayırtmak için şimdi kaydolun ›

› Türkiye pazarındaki eğilimlere ve gelişmelere dair değerli sektör görüşleri elde edin

› Perakende, süt, hazır yiyecekler, şekerleme, sıvı ve katı yağlar ve giyim sektöründe yerel, bölgesel ve küresel düzeyde fırsatlar hakkında bilgi edinin

› Hangi kategorilerin işletmenizi bölgesel ve küresel olarak büyüteceğini öğrenin 

› Market ve perakende sektörlerindeki konseptleri ve gelişmeleri keşfedin  

› Büyümeye yönelik eğilimleri ve fırsatlarıdan haberdar olun

Continue reading "Kahvaltı, Networking ve Pazar Öngörüleri için bize katılın" »

April 29, 2015

Market Focus: Beauty Growth Dynamics in the Middle East and Turkey

Ildiko-SzalaiAnalyst Insight by Ildiko Szalai - Senior Beauty and Personal Care Analyst

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The Middle East and Turkey show many common trends in terms of consumer behaviour, preferences and habits in beauty and personal care. Socioeconomic factors and cultural proximity often underpin similar industrial trends, although country-specific differences are prominent. Political and economic instability in the region represents a significant threat to sustainable growth opportunities.

What is driving many of the beauty trends in Turkey and the Middle East is a young, dynamic population. Social media savvy and open to new ideas, young people in these countries are becoming more aware of global brands than they have been in the past. As such, the internet and social media sites have become important tools for learning about and purchasing beauty and personal care products.

Continue reading "Market Focus: Beauty Growth Dynamics in the Middle East and Turkey" »

April 28, 2015

Challenges and Opportunities in Targeting the Senior Consumer

250_seniorConsumer-v1.0The senior market is a lucrative market to explore. The population over 60 stood at 912 million in 2014, representing 12.6 percent of the global population. By 2030, this segment will account for 18 percent, reaching 1.5 billion globally. While China is the fastest growing ageing market with over 60s forecast to grow by more than 46 percent between 2014 and 2030, Japan has the oldest population, with a massive 33 percent aged over 60. Japan is a model on the impact of this demographic shift, showing the effects of different methods of governmental intervention and product development opportunities.

 

 

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Key findings:

  • E-health, home assistance and elderly-friendly services will drive technology developments in the senior market, with health being the most dynamic consumer expenditure category through 2030.

  • Efficacy and natural features remain key features when it comes to marketing beauty products to the over 60s.

  • Demand for luxury goods focusing on heritage and craftsmanship is popular among senior consumers.

  • As senior consumers usually invest in timeless, quality clothing, an older population will have a negative impact on sales volume in the apparel market.

  • Presbyopia represents a key market driver in eyewear.

April 20, 2015

The Dash for Iran

Sarah-B-Banner

View Sarah Boumphrey's profile on LinkedIn

Consumer goods companies are clearly excited about the potential that Iran offers as a consumer market, following the framework agreement over Iran’s nuclear programme. Iran has the largest population in the Middle East, at 77.2 million in 2014; it also has the second largest economy (behind Saudi Arabia) with GDP of US$441 billion in the same year - a similar size to Austria. Yet size isn’t everything – sanctions have stifled the economy, which returned to growth last year following two years of decline.  The country’s economic woes are compounded by high (if falling) inflation, a fragile currency, a troubled banking sector and a weak fiscal position. This is further magnified by a weak business environment, with the government crowding out the private sector.

Despite these challenges, the framework agreement which could herald an end to sanctions, has been greeted with much enthusiasm by multinationals. Is this enthusiasm justified? Although the situation remains fluid, and the US Congress could still reject the deal, the answer is yes and no.

Continue reading "The Dash for Iran" »

March 28, 2015

Saudi Arabia: Migrant Workers and Mid-Income Group Drive Record Sales of Cheap Cars

Arunas-UmbrasasAnalyst Insight by Arunas Umbrasas - Industrial Analyst

View Arunas Umbrasas's profile on LinkedIn

Saudi Arabia’s booming automobile market powered through the global sales slump over 2009-2013 and is set to register roaring growth over 2013-2019. Surprisingly, sales expansion is being fuelled not by sales of bespoke Rolls-Royces but by low-cost vehicles, which are increasingly popular among mid-income Saudis and foreign workers. Dynamic growth has already attracted major brands from China such as Geely, which capitalised on robust growth to expand market share by catering to low-cost vehicle buyers. As leading competitors continue to launch new models and more foreign workers arrive in the Kingdom, car sales will only grow further during the forecast period.

Continue reading "Saudi Arabia: Migrant Workers and Mid-Income Group Drive Record Sales of Cheap Cars" »

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Recent Posts

Iran's Grocery Market Poised for Growth Following Nuclear Deal

Iran’s Dairy Market a Temporary Solution to Russia’s Lockdown and China’s Slowdown

Cultural and Religious Barriers: Prospects for Greater Market Penetration of Toilet Paper

Top 3 Drivers of Consumer Expenditure in Emerging and Developing Economies

Sanctions and their Toll – How has Iran Fared?

Kahvaltı, Networking ve Pazar Öngörüleri için bize katılın

Market Focus: Beauty Growth Dynamics in the Middle East and Turkey

Challenges and Opportunities in Targeting the Senior Consumer

The Dash for Iran

Saudi Arabia: Migrant Workers and Mid-Income Group Drive Record Sales of Cheap Cars