Luxury goods market in South Africa - statistics & facts
In Africa, the luxury goods sector has maintained its appeal despite socio-cultural changes and various economic challenges. Most consumers of luxury goods are interested in the shoes, bags, and apparel categories, which collectively amounted to roughly 58 percent in 2023. Generally, the leading luxury brands African consumers are interested in are Louis Vuitton, Gucci, Prada, Burberry, and Christian Louboutin. The majority of these luxury consumers are interested in products which are within an affordable price range. However, a small yet significant portion of over seven percent is not discouraged by price.
