Fashion & Lifestyle

Thursday, 07 May 2020 08:54

South African Start-up Aims to Disrupt Global Premium Goods Market

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South African Start-up Aims to Disrupt Global Premium Goods Market

South African based ecommerce newbie African National plans to disrupt Global Premium Goods Market by encouraging local consumers to put local products first.

South African start-up launches innovative business with three simple but mighty objectives;

  1. Create a market-place for local entrepreneurs.
  2. Create local job opportunity.
  3. Get consumers to purchase local goods.

Sounds simple?“Far from it”, says Co-founder Greshan Sukhu. 

The African Premium goods market simply doesn’t exist, whereas compared with giants like the US and Europe.

We asked ourselves about the journey before we started and knew that it would take time, energy and money to get this going and lots of money he reiterated with a chuckle.

We have been seeing steady growth in the Premium Goods market. According to EY, the Premium market is expected to grow by 7.5% CAGR. 

Whilst it is a mountain to climb to put Africa on the map, it will happen as buying trends are changing.

Millennial's trump quality above all and they have actively contributed to the growth of this market. 

I’m sure we can all relate to having some co-workers in our offices making online purchases frequently and some of us are even lucky enough to open the door for the delivery man of the goods when they arrive.

 As that happened, we started seeing more. Now the hunger has fueled towards premium international brands.

Mind you, not only the wealthy are snapping up these items - It’s people in so called middle-class as well.

In fact, we seeing people with an income of R10 000 or more per month indulging in this market too. 

We have great products locally and in some areas our quality is a lot better.

As said earlier we know millennial's trump quality above all, so now it’s only about getting them to turn local.We will be launching a series of campaigns over the next few months that will help create a market shift that will allow us to slowly but steadily gain traction in the market.

We encourage all consumers to consider local as a first option when making any purchase.As Covid-19 is changing our world, we should consider investing in our own people and economy first as this will lead to job creation, better local products and will encourage an entrepreneurial spirit.

If you would like to be part of the cause - Join #IAMAFRICANNATIONAL

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Together only, can we put Africa on the map.

Salute, fellow African National. :)

African National

Premium local goods

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