Luxury Goods in South Africa

October 2023 | 42 pages | ID: L4AE0E94864EN
Euromonitor International Ltd

Abstracts

Retail sales of luxury goods in South Africa are expected to grow by 14% in current value terms in 2023 to reach ZAR55.0 billion. The category has continued on the path to recovery with consumers returning to their pre-pandemic work, travel, and shopping habits, with many people returning to buying luxury goods. Affluent consumers, in particular, sought to indulge themselves after the long periods of lockdown and home seclusion. The latter part of the review period also saw more affluent consume...

Euromonitor International's Luxury Goods in South Africa report offers a comprehensive guide to the size and shape of the Luxury Goods market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Luxury Goods retailing along with the development of consumers’ shopping patterns. Forecasts to 2027 illustrate how the market is set to change

Product coverage: Experiential Luxury, Fine Wines/Champagne and Spirits, Personal Luxury, Premium and Luxury Cars.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

• Get a detailed picture of the Luxury Goods market;
• Pinpoint growth sectors and identify factors driving change;
• Understand the competitive environment, the market’s major players and leading brands;
• Use five-year forecasts to assess how the market is predicted to develop.

Euromonitor International has over 40 years' experience of publishing market research reports, business reference books and online information systems. With offices in London, Chicago, Singapore, Shanghai, Vilnius, Dubai, Cape Town, Santiago, Sydney, Tokyo and Bangalore and a network of over 800 analysts worldwide, Euromonitor International has a unique capability to develop reliable information resources to help drive informed strategic planning.

Contents

LUXURY GOODS IN SOUTH AFRICA
EXECUTIVE SUMMARY
Luxury goods in 2023: The big picture
2023 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
MARKET DATA
Table 1 Sales of Luxury Goods by Category: Value 2018-2023
Table 2 Sales of Luxury Goods by Category: % Value Growth 2018-2023
Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2018-2023
Table 4 NBO Company Shares of Luxury Goods: % Value 2018-2023
Table 5 LBN Brand Shares of Luxury Goods: % Value 2019-2023
Table 6 Distribution of Luxury Goods by Format and Category: % Value 2023
Table 7 Forecast Sales of Luxury Goods by Category: Value 2023-2028
Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2023-2028
DISCLAIMER
SOURCES
Summary 1 Research Sources
EXPERIENTIAL LUXURY IN SOUTH AFRICA
KEY DATA FINDINGS
2023 DEVELOPMENTS
Experiential luxury thriving in the post-pandemic boom in 2023
Luxury hotels seeing dynamic growth as travel rebounds in 2023
Sun International South Africa Ltd leads experiential luxury in 2022
PROSPECTS AND OPPORTUNITIES
Retail value sales look set to increase over the forecast period as travel rebounds
Luxury hotels is expected to deliver a dynamic performance but challenges remain
Luxury foodservice unlikely to find a foothold in the market
CATEGORY DATA
Table 9 Sales of Experiential Luxury by Category: Value 2018-2023
Table 10 Sales of Experiential Luxury by Category: % Value Growth 2018-2023
Table 11 NBO Company Shares of Experiential Luxury: % Value 2018-2023
Table 12 LBN Brand Shares of Experiential Luxury: % Value 2019-2022
Table 13 Forecast Sales of Experiential Luxury by Category: Value 2023-2028
Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2023-2028
FINE WINES/CHAMPAGNE AND SPIRITS IN SOUTH AFRICA
KEY DATA FINDINGS
2023 DEVELOPMENTS
Fine wines/Champagne and spirits sees rising demand in 2023
Luxury spirits is the largest subcategory in terms of value sales in the last year of the review period
Competitive landscape remains relatively stable but women become an increasingly important focus of marketing and new product development
PROSPECTS AND OPPORTUNITIES
Cautiously optimistic outlook for the forecast period
Luxury spirits could benefit from shift to at-home consumption
Fine Champagne could benefit from increased focus on experiences
CATEGORY DATA
Table 15 Sales of Fine Wines/Champagne and Spirits by Category: Value 2018-2023
Table 16 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2018-2023
Table 17 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2018-2022
Table 18 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2018-2023
Table 19 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2023-2028
Table 20 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2023-2028
PREMIUM AND LUXURY CARS IN SOUTH AFRICA
KEY DATA FINDINGS
2023 DEVELOPMENTS
Premium and luxury cars seeing strong gains in 2023
Number of premium and luxury cars on the rise but supply shortages of key components a barrier to growth
Premium and luxury cars is led by Bayerische Motoren Werke AG in 2022
PROSPECTS AND OPPORTUNITIES
Sales expected to see a full recovery in value terms but economic challenges could prove to be an obstacle to volume growth
E-commerce opening new opportunities for development
Car manufacturers going electric
CATEGORY DATA
Table 21 Sales of Premium and Luxury Cars: Value 2018-2023
Table 22 Sales of Premium and Luxury Cars: % Value Growth 2018-2023
Table 23 NBO Company Shares of Premium and Luxury Cars: % Value 2018-2022
Table 24 LBN Brand Shares of Premium and Luxury Cars: % Value 2019-2022
Table 25 Forecast Sales of Premium and Luxury Cars: Value 2023-2028
Table 26 Forecast Sales of Premium and Luxury Cars: % Value Growth 2023-2028
PERSONAL LUXURY IN SOUTH AFRICA
KEY DATA FINDINGS
2023 DEVELOPMENTS
Personal luxury bounces back in 2023 despite economic pressures
Designer apparel and footwear (ready-to-wear) on the path to recovery
Lifting of restrictions encourages consumers to update their luxury eyewear
Retail value sales of luxury jewellery see a rise in 2023
Luxury leather goods sees positive value growth in 2023
Luxury wearables electronics benefiting from new innovations and the digitalisation of society
Luxury timepieces seen as an investment as well as a fashion status
Value sales of writing instruments and stationery on the increase in 2023
Super premium beauty and personal care on the rise as face masks come off and social functions return
Surtee Group holds the lead in personal luxury in 2022, but Louis Vuitton sees the most dynamic growth
PROSPECTS AND OPPORTUNITIES
Value sales look set to go up in 2023 constant terms over the forecast period
Designer apparel and footwear (ready-to-wear) set to remain the largest category in value terms over the forecast period
Luxury wearables electronics expected to be the most dynamic category
CATEGORY DATA
Table 27 Sales of Personal Luxury by Category: Value 2018-2023
Table 28 Sales of Personal Luxury by Category: % Value Growth 2018-2023
Table 29 NBO Company Shares of Personal Luxury: % Value 2018-2023
Table 30 LBN Brand Shares of Personal Luxury: % Value 2019-2023
Table 31 Distribution of Personal Luxury by Format: % Value 2018-2023
Table 32 Forecast Sales of Personal Luxury by Category: Value 2023-2028
Table 33 Forecast Sales of Personal Luxury by Category: % Value Growth 2023-2028