Although pandemic-related restrictions have now been lifted in South Africa, personal luxury is faced with a difficult consumer environment. Since locally, aspirational consumers comprise one of the biggest drivers of personal luxury, and they have also been the most impacted by an unstable economic environment as a result of the pandemic and outside factors such as rising fuel prices and the general increase in the cost of living, it is likely that recovery will be slow and beyond the forecast period with value sales (at constant 2022 prices) set to remain significantly lower than pre-pandemic levels.
South Africans are becoming increasingly accepting of the idea of second-hand personal luxury. In the past, many consumers were mistrusting of retailers offering these goods due to concerns over the authenticity of the brands.
Personal luxury brands tend to be concentrated in key cities such as Johannesburg and Cape Town, leaving the rest of South Africa underserved, unless potential customers are willing to travel. In a country as expansive as South Africa, potential customers with notable purchasing power are widespread and may not necessarily be mobile.
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Understand the latest market trends and future growth opportunities for the Personal Luxury 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 Personal Luxury 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.
This is an aggregation of Designer Clothing and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Timepieces, Luxury Leather Goods, Luxury Writing Instruments and Stationery, Luxury Portable Consumer Electronics and Super Premium Beauty and Personal Care.See All of Our Definitions
This report originates from Passport, our Personal Luxury research and analysis database.
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