Tapping into the Muslim consumer potential based on international values research
The Muslim lifestyle sector has seen growth at nearly double the rate of the global economy with expenditure of consumers on food and lifestyle sectors growing by 9.5 per cent to $1.9 trillion in 2015 and projected to reach $3 trillion by 2021.
Martijn Lampert, research director of the Netherlands based Glocalities research programme, who is behind the report, said many marketers are still in the dark about the potential of the Muslim market.
He said: “Muslims will play an increasingly important role in global marketplace especially due to the young age demographic and consumer spending as a result of their rising purchasing power.
“This growth is fuelled by Muslim millennials, a young and dynamic group. Bringing energy, new ideas and a different outlook on life, they prove that Muslim citizens all over the world come in very different types and mindsets.
“Their diversity highlights the importance of targeted messaging based on a robust understanding of their values and preferences.”
To download your free copy of ‘Tapping into Muslim Consumer Potential go here: https://www.glocalities.com/reports/tapping-into-the-muslim-consumer-potential.html .