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Country Report

Luxury Portable Consumer Electronics in

Luxury Portable Consumer Electronics in South Africa

13 pages, Feb 2019

US$990

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Executive Summary

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

African consumers are the primary category sales drivers

Luxury goods represent a small niche of overall 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.

South Africans tend to buy overseas

When it comes 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.

Declining retail value growth

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 over the forecast period.

COMPETITIVE LANDSCAPE

Niche category with few growth prospects

Luxury portable consumer electronics is a very small 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.

The end for Vertu and its ostentatious brands

Vertu Corporation Limited, a UK manufacturer of luxury smartphones, filed for insolvency after being passed between owners since 2012. The company was known for its hugely expensive handsets.

Smartphones challenge Vertu’s unique concierge service

While Vertu bundled in a 24-hour concierge service, similar to that provided by high-end hotels, allowing users to access instant lifestyle upgrades, benefits, and exclusive services, many manufacturers of Android handsets, including Apple caught on to the consumer demand for sleek, good-looking phones. At the same time, luxury brands moved into smartphones and began to offer their own high-end alternatives, further reducing demand for Vertu products.

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Overview

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 functions.

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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.

The Luxury Portable Consumer Electronics 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 Portable Consumer Electronics in South Africa?
What are the major brands in South Africa?
How dynamic is the growth of Luxury Portable Consumer Electronics 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 Portable Consumer Electronics in South Africa - Category analysis

HEADLINES

PROSPECTS

African consumers are the primary category sales drivers

South Africans tend to buy overseas

Declining retail value growth

COMPETITIVE LANDSCAPE

Niche category with few growth prospects

The end for Vertu and its ostentatious brands

Smartphones challenge Vertu’s unique concierge service

CATEGORY DATA

Table 1 Sales of Luxury Portable Consumer Electronics by Category: Value 2013-2018
Table 2 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2013-2018
Table 3 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2013-2017
Table 4 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2014-2017
Table 5 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2013-2018
Table 6 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2018-2023
Table 7 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2018-2023

Luxury Goods in South Africa - Industry Overview

EXECUTIVE SUMMARY

Changing market due to macroeconomic conditions and evolving consumer base

Market experiences growth but ongoing decline in dynamism

Luxury goods market remains small in South Africa, with scope for further growth

Multibrand stores remain the main distribution channel

Positive prospects for changing luxury goods market

MARKET INDICATORS

Table 8 Number of High Net Worth Individuals (HNWI): 2013-2018

MARKET DATA

Table 9 Sales of Luxury Goods by Category: Value 2013-2018
Table 10 Sales of Luxury Goods by Category: % Value Growth 2013-2018
Table 11 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018
Table 12 NBO Company Shares of Luxury Goods: % Value 2013-2017
Table 13 LBN Brand Shares of Luxury Goods: % Value 2014-2017
Table 14 Distribution of Luxury Goods by Format and Category: % Value 2018
Table 15 Forecast Sales of Luxury Goods by Category: Value 2018-2023
Table 16 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

Megatrends

Country Report

Luxury Portable Consumer Electronics in South Africa

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Executive Summary

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PROSPECTS

African consumers are the primary category sales drivers

South Africans tend to buy overseas

Declining retail value growth

COMPETITIVE LANDSCAPE

Niche category with few growth prospects

The end for Vertu and its ostentatious brands

Smartphones challenge Vertu’s unique concierge service

Overview

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Table of Contents

Luxury Portable Consumer Electronics in South Africa - Category analysis

HEADLINES

PROSPECTS

African consumers are the primary category sales drivers

South Africans tend to buy overseas

Declining retail value growth

COMPETITIVE LANDSCAPE

Niche category with few growth prospects

The end for Vertu and its ostentatious brands

Smartphones challenge Vertu’s unique concierge service

CATEGORY DATA

Luxury Goods in South Africa - Industry Overview

EXECUTIVE SUMMARY

Changing market due to macroeconomic conditions and evolving consumer base

Market experiences growth but ongoing decline in dynamism

Luxury goods market remains small in South Africa, with scope for further growth

Multibrand stores remain the main distribution channel

Positive prospects for changing luxury goods market

MARKET INDICATORS

MARKET DATA

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