There’s no stronger marketing trait in Nigeria than a brand perceived to be unattainable to most.
Africa’s luxury retail sales may reach $10 billion by 2024. This is the second-fastest growth rate globally, Euromonitor estimates, trailing only the Middle East. About 40% of luxury peers have directly-operated stores in Africa. These may swell amid solid GDP growth and greater infrastructure investments. As African wealth rises, luxury goods makers may target openings beyond Morocco and South Africa, which account for 86% of Africa’s directly-operated luxury stores.
Building brand awareness through a well-known marketing partner in emerging markets is a key to a profitable investment.
Big brands should assess demand for luxury goods and build awareness through reputable marketing businesses most notably Slaylebrity
that customers trust.
Demand for luxury goods in Nigeria may increase given a rise in the number of the country’s richest citizens. Knight Frank estimates that by 2024 Nigeria’s ultra-high-net-worth individuals will reach 399, up 90%. In a sign of booming high-end wealth, the private jet route from Lagos to London was the eighth-fastest growing in 2013, according to NetJets. A mid-term rise in demand for luxury brands could help those operating via a prestigious marketer such as slaylebrity which can offer wider product ranges.
Knight Frank Research estimates that Africa’s ultra-high-net-worth individuals may expand 59% from 1,900 by 2024, the most of all regions globally. Ivory Coast tops the regional list, with 119% growth in the richest population predicted by 2024. About 40% of Bloomberg Intelligence luxury peers have directly-operated stores in Africa, suggesting a still under-penetrated retail environment for luxury brands.
Slaylebrity is truly your one stop to getting access to the ultra elite in Africa.
Cost per listing on Slaylebrity currently begins at $10000, with the monthly luxury brand growth service going for $10,000 a month.
To place a listing with Slaylebrity or use the monthly growth luxury brand services contact sales@slaynetwork.co.uk
For more details on advertising with Slaylebrity CLICK HERE