Luxury Goods in Africa 2014
Luxury Goods in Africa 2014
In recent years, the rise of the African consumer’s wealth profile has drawn the attention of luxury brands seeking to unlock emerging and frontier market growth potential as mature luxury goods markets could no longer maintain double-digit growth.
KPMG’s recent 2014 Luxury Goods sector report presents a view of the rapidly changing face of the African luxury goods consumer, encompassing salient demographic and wealth shifts, as well as spending patterns and consumer traits.
The report presents various scenarios for the long-term economic growth trajectory in several key African markets, whilst keeping in mind probable exchange rate dynamics that may impact purchasing power. In addition, key considerations which may impact consumer demand for luxury goods sector in Africa are highlighted.
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