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Country Report

Luxury Goods in

Luxury Goods in South Africa

62 pages, Feb 2018

US$1,210

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Executive Summary

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Lower total value growth registered in luxury goods in 2017

South Africa’s real GDP growth was below 1% in 2017, with the country slipping into recession at the beginning of the year. Low consumer demand and confidence levels due to rising unemployment and unit prices have impacted discretionary spending.

No major brand launches

In previous years, luxury goods was more dynamic, with new shopping centre openings and luxury brands such as Jimmy Choo entering through monobrand stores. In 2017, no new luxury brands were seen to open monobrand stores on the African continent.

Luxury goods remains highly fragmented

In comparison to international markets such as the UK and the US, South Africa is still small. There is still much scope for growth, especially if South Africa is to be used as a stepping stone into the wider African continent.

Non-grocery specialists continues to dominate the distribution of luxury goods

Multibrand stores (boutiques) remain the main channel of distribution for luxury goods. Although there are more monobrand stores now present in the country, there is a higher concentration of such shops in Sandton City, which is touted as the luxury shopping hub of Africa.

Luxury goods expected to decline over the forecast period

The future of luxury goods looks bleak in South Africa. With no known brand launch planned over the forecast period, a declining economy, and an outflow of high net worth individuals, luxury goods will face some challenges in driving volume growth.

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Overview

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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Goods industry in South Africa with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Luxury Goods industry in South Africa, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Goods in South Africa market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Luxury Goods in South Africa?
What are the major brands in South Africa?
How dynamic is the growth of Luxury Goods internet sales?
What is driving growth?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply function

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Luxury Goods in South Africa

EXECUTIVE SUMMARY

Lower total value growth registered in luxury goods in 2017

No major brand launches

Luxury goods remains highly fragmented

Non-grocery specialists continues to dominate the distribution of luxury goods

Luxury goods expected to decline over the forecast period

MARKET INDICATORS

Table 1 Number of High Net Worth Individuals (HNWI): 2012-2017

MARKET DATA

Table 2 Sales of Luxury Goods by Category: Value 2012-2017
Table 3 Sales of Luxury Goods by Category: % Value Growth 2012-2017
Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2017
Table 5 NBO Company Shares of Luxury Goods: % Value 2012-2016
Table 6 LBN Brand Shares of Luxury Goods: % Value 2013-2016
Table 7 Distribution of Luxury Goods by Format and Category: % Value 2017
Table 8 Forecast Sales of Luxury Goods by Category: Value 2017-2022
Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2017-2022

SOURCES

Summary 1 Research Sources

Designer Apparel and Footwear (Ready-To-Wear) in South Africa

HEADLINES

PROSPECTS

Challenging economic environment restricts growth

Multibrand stores dominate

The rising local middle class balances domestic and international expenditure

COMPETITIVE LANDSCAPE

Surtee Group maintains its lead

Internet retailing still in its infancy...

...and may struggle to replicate the in-store experience and service

CATEGORY DATA

Table 10 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2012-2017
Table 11 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2012-2017
Table 12 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2012-2016
Table 13 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2013-2016
Table 14 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2012-2017
Table 15 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2017-2022
Table 16 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2017-2022

Fine Wines/Champagne and Spirits in South Africa

HEADLINES

PROSPECTS

Premiumisation trend gains traction

Promotion of premium/luxury brands to nouveau riche black consumers

COMPETITIVE LANDSCAPE

High fragmentation

Consumer preferences

CATEGORY DATA

Table 17 Sales of Fine Wines/Champagne and Spirits by Category: Value 2012-2017
Table 18 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2012-2017
Table 19 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2012-2016
Table 20 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2013-2016
Table 21 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2012-2017
Table 22 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2017-2022
Table 23 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2017-2022

Luxury Cars in South Africa

HEADLINES

PROSPECTS

Further confirmation of the wide income distribution gap in South Africa

Types of consumer

Challenging retail environment forecast

COMPETITIVE LANDSCAPE

High concentration defines the luxury cars landscape

High-priced brands hold a small retail value share

CATEGORY DATA

Table 24 Sales of Luxury Cars: Value 2012-2017
Table 25 Sales of Luxury Cars: % Value Growth 2012-2017
Table 26 NBO Company Shares of Luxury Cars: % Value 2012-2016
Table 27 LBN Brand Shares of Luxury Cars: % Value 2013-2016
Table 28 Forecast Sales of Luxury Cars: Value 2017-2022
Table 29 Forecast Sales of Luxury Cars: % Value Growth 2017-2022

Luxury Eyewear in South Africa

HEADLINES

PROSPECTS

Luxury eyewear registers lower retail value growth due to economic challenges

Price discounting and the weaker rand affect profit margins

COMPETITIVE LANDSCAPE

Luxottica maintains its dominance with strong brands

Rising unit prices and stringent credit regulations impact growth

CATEGORY DATA

Table 30 Sales of Luxury Eyewear by Category: Value 2012-2017
Table 31 Sales of Luxury Eyewear by Category: % Value Growth 2012-2017
Table 32 NBO Company Shares of Luxury Eyewear: % Value 2012-2016
Table 33 LBN Brand Shares of Luxury Eyewear: % Value 2013-2016
Table 34 Distribution of Luxury Eyewear by Format: % Value 2012-2017
Table 35 Forecast Sales of Luxury Eyewear by Category: Value 2017-2022
Table 36 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2017-2022

Luxury Hotels (5-Star Plus) in South Africa

HEADLINES

PROSPECTS

International travellers drive sales

Luxury destination

Shift in consumer behaviour especially among wealthy millennials

COMPETITIVE LANDSCAPE

Luxury hotels forecast to grow

New hotels opening

CATEGORY DATA

Table 37 Sales in Luxury Hotels (5-star plus): Value 2012-2017
Table 38 Sales in Luxury Hotels (5-star plus): % Value Growth 2012-2017
Table 39 Sales in Luxury Hotels (5-star plus) by Country of Origin: % Value 2013-2017
Table 40 NBO Company Shares of Luxury Hotels (5-star plus): % Value 2012-2016
Table 41 LBN Brand Shares of Luxury Hotels (5-star plus): % Value 2013-2016
Table 42 Forecast Sales in Luxury Hotels (5-star plus): Value 2017-2022
Table 43 Forecast Sales in Luxury Hotels (5-star plus): % Value Growth 2017-2022

Luxury Jewellery in South Africa

HEADLINES

PROSPECTS

Demand for customised luxury jewellery pieces creates niche opportunity

Changing consumer preferences with a growing appetite for African-inspired jewellery pieces

COMPETITIVE LANDSCAPE

Browns the Diamond Store maintains its lead

Monobrand stores launch collections globally

Luxury costume jewellery grows popular primarily among wealthy shoppers

CATEGORY DATA

Table 44 Sales of Luxury Jewellery by Category: Value 2012-2017
Table 45 Sales of Luxury Jewellery by Category: % Value Growth 2012-2017
Table 46 NBO Company Shares of Luxury Jewellery: % Value 2012-2016
Table 47 LBN Brand Shares of Luxury Jewellery: % Value 2013-2016
Table 48 Distribution of Luxury Jewellery by Format: % Value 2012-2017
Table 49 Forecast Sales of Luxury Jewellery by Category: Value 2017-2022
Table 50 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2017-2022

Luxury Leather Goods in South Africa

HEADLINES

PROSPECTS

Luxury handbags perceived as status symbols

Ability to purchase

Competition with international brands

COMPETITIVE LANDSCAPE

Louis Vuitton South Africa maintains its lead

More variety and increased competition

Personal shopper trend

CATEGORY DATA

Table 51 Sales of Luxury Leather Goods: Value 2012-2017
Table 52 Sales of Luxury Leather Goods: % Value Growth 2012-2017
Table 53 NBO Company Shares of Luxury Leather Goods: % Value 2012-2016
Table 54 LBN Brand Shares of Luxury Leather Goods: % Value 2013-2016
Table 55 Distribution of Luxury Leather Goods by Format: % Value 2012-2017
Table 56 Forecast Sales of Luxury Leather Goods: Value 2017-2022
Table 57 Forecast Sales of Luxury Leather Goods: % Value Growth 2017-2022

Luxury Portable Consumer Electronics in South Africa

HEADLINES

PROSPECTS

African consumers are the primary drivers

South African consumers tend to buy overseas

Declining retail value growth

COMPETITIVE LANDSCAPE

Niche category with limited growth prospects

CATEGORY DATA

Table 58 Sales of Luxury Portable Consumer Electronics by Category: Value 2012-2017
Table 59 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2012-2017
Table 60 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2012-2016
Table 61 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2013-2016
Table 62 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2012-2017
Table 63 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2017-2022
Table 64 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2017-2022

Luxury Timepieces in South Africa

HEADLINES

PROSPECTS

The rise of second-hand luxury websites and auction sites

Luxury timepieces appeal to aspirational consumers as status symbols

Wider consumer choice with the entry of new brands in South Africa

COMPETITIVE LANDSCAPE

International Timepiece & Fashion maintains its lead

The rise in popularity of second-hand watches

CATEGORY DATA

Table 65 Sales of Luxury Timepieces by Category: Value 2012-2017
Table 66 Sales of Luxury Timepieces by Category: % Value Growth 2012-2017
Table 67 NBO Company Shares of Luxury Timepieces: % Value 2012-2016
Table 68 LBN Brand Shares of Luxury Timepieces: % Value 2013-2016
Table 69 Distribution of Luxury Timepieces by Format: % Value 2012-2017
Table 70 Forecast Sales of Luxury Timepieces by Category: Value 2017-2022
Table 71 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2017-2022

Luxury Writing Instruments and Stationery in South Africa

HEADLINES

PROSPECTS

Popular corporate gifts

Destination shopping limits growth opportunities

Competition with other entry-level luxury items

COMPETITIVE LANDSCAPE

Iconic Montblanc leads sales

Brand perception

Brand awareness

CATEGORY DATA

Table 72 Sales of Luxury Writing Instruments and Stationery: Value 2012-2017
Table 73 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2012-2017
Table 74 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2012-2016
Table 75 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2013-2016
Table 76 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2012-2017
Table 77 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2017-2022
Table 78 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2017-2022

Super Premium Beauty and Personal Care in South Africa

HEADLINES

PROSPECTS

New brand and product launches drive growth despite the challenging economic environment

More brands to cater to ethnic consumers

Weak rand impacts unit prices

COMPETITIVE LANDSCAPE

The Prestige Cosmetics Group leads

Experiential branding increasingly used to distinguish brands from competitors

CATEGORY DATA

Table 79 Sales of Super Premium Beauty and Personal Care by Category: Value 2012-2017
Table 80 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2012-2017
Table 81 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2012-2016
Table 82 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2013-2016
Table 83 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2012-2017
Table 84 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2017-2022
Table 85 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2017-2022

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Megatrends

Country Report

Luxury Goods in South Africa

New Report Guarantee

Executive Summary

New Report Guarantee

Lower total value growth registered in luxury goods in 2017

No major brand launches

Luxury goods remains highly fragmented

Non-grocery specialists continues to dominate the distribution of luxury goods

Luxury goods expected to decline over the forecast period

Samples

Overview

Why buy this report?

Samples (FAQs about samples):

Want to find out more about this report?

Table of Contents

Luxury Goods in South Africa

EXECUTIVE SUMMARY

Lower total value growth registered in luxury goods in 2017

No major brand launches

Luxury goods remains highly fragmented

Non-grocery specialists continues to dominate the distribution of luxury goods

Luxury goods expected to decline over the forecast period

MARKET INDICATORS

MARKET DATA

SOURCES

Designer Apparel and Footwear (Ready-To-Wear) in South Africa

HEADLINES

PROSPECTS

Challenging economic environment restricts growth

Multibrand stores dominate

The rising local middle class balances domestic and international expenditure

COMPETITIVE LANDSCAPE

Surtee Group maintains its lead

Internet retailing still in its infancy...

...and may struggle to replicate the in-store experience and service

CATEGORY DATA

Fine Wines/Champagne and Spirits in South Africa

HEADLINES

PROSPECTS

Premiumisation trend gains traction

Promotion of premium/luxury brands to nouveau riche black consumers

COMPETITIVE LANDSCAPE

High fragmentation

Consumer preferences

CATEGORY DATA

Luxury Cars in South Africa

HEADLINES

PROSPECTS

Further confirmation of the wide income distribution gap in South Africa

Types of consumer

Challenging retail environment forecast

COMPETITIVE LANDSCAPE

High concentration defines the luxury cars landscape

High-priced brands hold a small retail value share

CATEGORY DATA

Luxury Eyewear in South Africa

HEADLINES

PROSPECTS

Luxury eyewear registers lower retail value growth due to economic challenges

Price discounting and the weaker rand affect profit margins

COMPETITIVE LANDSCAPE

Luxottica maintains its dominance with strong brands

Rising unit prices and stringent credit regulations impact growth

CATEGORY DATA

Luxury Hotels (5-Star Plus) in South Africa

HEADLINES

PROSPECTS

International travellers drive sales

Luxury destination

Shift in consumer behaviour especially among wealthy millennials

COMPETITIVE LANDSCAPE

Luxury hotels forecast to grow

New hotels opening

CATEGORY DATA

Luxury Jewellery in South Africa

HEADLINES

PROSPECTS

Demand for customised luxury jewellery pieces creates niche opportunity