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Learn moreFeb 2020
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Luxury goods represent a niche 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. Sales are driven primarily by African consumers who travel regularly to South Africa and seek a unique product to distinguish themselves from the crowd.
In regard to South Africans, specifically, those who can afford and who are willing to splurge on such luxurious pieces tend to be regular travellers. Given that there is a wider variety of models and brands to choose from abroad, local consumers often prefer to make such purchases when they are travelling overseas.
The lowering retail value growth of luxury portable consumer electronics during the review period can be attributed to the economic climate, both locally and in neighbouring African countries. Luxury portable consumer electronics is expected to continue declining in terms of volume sales over the forecast period – and at a faster rate.
Vertu luxury mobile phones were no longer available in South Africa in 2018, having dominated the category two years previously. Vertu Corp Ltd, a UK manufacturer of luxury smartphones, filed for insolvency after being passed between owners since 2012.
Luxury portable consumer electronics remains a niche in South Africa, with the country failing to become established as a growing market for these types of products. As a result, most international luxury brands are absent from the country.
Samsung, which has yet to amass a significant share in luxury mobile phones, launched the Galaxy Fold, a foldable phone, in South Africa in October 2019 and it retails at ZAR43,999. The model opens up like a book, has a remarkable six cameras and costs ZAR10,000 more than the most expensive iPhone.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Luxury Portable Consumer Electronics 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 Portable Consumer Electronics industry in South Africa, our research will save you time and money while empowering you to make informed, profitable decisions.
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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.