Although luxury portable consumer electronics witnessed retail volume and current value declines in 2019, these were minor compared with the massive falls in sales experienced in 2020, and the further weak performance recorded by the category in 2021. Pre-pandemic, more than half of sales of luxury portable consumer electronics were attributed to spending by international tourists.
Luxury goods represent a very small share of overall sales of portable consumer electronics in South Africa, as they appeal to a limited group of people, namely connoisseurs and those with the discretionary income to purchase such items, given their hefty price tag. Luxury mobile phones remained the larger value category; with luxury wearables only entering the country in 2019, these products have struggled to establish themselves considering the pandemic hit during the category’s first full year of sales.
Demand for luxury portable consumer electronics is predicted to remain fairly flat over the forecast period, although the newer luxury wearables offers some potential in line with rising health and wellness trends, as these products allow consumers to track their fitness goals among others. However, mainstream brands of wearables offer strong competition.
Over the forecast period, luxury mobile phones is likely to continue to be dominated by licensed branded products such as Tonino Lamborghini’s luxury smartphone. However, with low and declining sales during the pandemic, even this brand may choose to pull its offering from the market.
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Understand the latest market trends and future growth opportunities for the Luxury Portable Consumer Electronics industry in South Africa with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Luxury Portable Consumer Electronics industry in South Africa, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury portable consumer electronics include luxury mobile phones, luxury MP3 players and luxury wearables.
See All of Our DefinitionsThis report originates from Passport, our Luxury Portable Consumer Electronics research and analysis database.
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