• Industry: Consumer Markets
  • Type: Business and industry issue
  • Date: 9/14/2015

Consumer Markets

KPMG's Consumer Markets team helps business to adapt to fast-changing business conditions.

Luxury Goods in Africa 2015 

There has been a noticeable improvement in economic growth in Africa since the turn of the century, driven by an improvement in the business environment and investment climate, and a decrease in aggregate political risk. Notwithstanding short-term downside risks, the rise of the African consumer’s wealth profile should continue to draw the attention of luxury brands seeking to unlock emerging and frontier market growth potential as mature luxury goods markets could no longer maintain double-digit growth.
Luxury Goods in Africa 2015
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Africa has not escaped the brunt of macroeconomic headwinds brought about by global monetary policy divergence and broader commodity price weakness, and key markets for luxury goods may suffer a slowdown in demand as consumers’ disposable income decrease especially in commodity-dependent countries. However, the continent continues to hold strong medium-term economic growth potential, and intra-regional differentiation is increasingly coming to the fore with base commodity importers earmarked as clear winners.

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