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Communicate Online | Regional Edition | Advertising, marketing, public relations and media in the Arab world and beyond

Communicate Online | Regional Edition | Advertising, marketing, public relations and media in the Arab world and beyond

15 numbers from arab luxury world you need to know

Arab luxury world

Research

15 numbers from arab luxury world you need to know

  1. Nordstrom has 80% share of the apparel market because they have invested in learning about their customers

 

  1. The Middle East audience is more influenced by social media than anywhere else in the world

 

  1. 71% of Net-A-Porter’s business in the Middle East comes from mobile. As the company’s President Alison Loehnis said, “There’s no correlation between the size of the screen and the size of the basket.”

 

  1. In luxury, the off-price market is growing at 8% while the overall market is growing at 5% as there is more value sensitivity

 

  1. Luxury retail is growing at 8%, while online luxury has grown by 24%

READ: All you need to know about the 5th arab luxury world

  1. In the GCC, online presence is high but e-commerce penetration is low with the e-commerce expected to grow from $2.8 billion in 2017 to $8.3 billion in 2022 in UAE, and $4 billion in 2017 to $13.2 billion in 2022 in KSA, according to Bain and Co.
  2. However, according to Waseem Afzal, GM of OMD’s e-commerce arm Transact, the GCC e-commerce industry is valued at $10 billion as of 2017
  3. Ultra high net worth individuals (UHNWI) spend $234 billion a year on luxury
  4. UHNWI’s spends make up 21% of the luxury market
  5. €489 billion was spent on luxury cars up by 6% in 2017 globally

    READ: 5 key highlights from arab luxury world 2018

  6. €262 billion was spent on personal luxury goods up by 5% in 2017 globally
  7. €49 billion was spent on luxury food up by 1% in 2017 globally
  8. €40 billion was spent on fine art up by 4% in 2017 globally
  9. €191 billion was spent on luxury hospitality up by 4% in 2017 globally
  10. €49 billion was spent on luxury food up by 1% in 2017 globally

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