Muslim consumers are welcoming of even the smallest of overtures, understanding that businesses feel they are taking a risk. The rewards are for the taking as Muslim consumers are supportive of even the smallest of efforts and will be a brand’s best ally through word of mouth. Being tech savvy and well-connected digitally and via the concept of ummah means that support spreads quickly. And where brands do reach out to Muslim consumers, their courage will be rewarded. The response is loyalty, pride and collective endorsement.
Alongside commitment, credibility is important. Whilst being acknowledged by brands can be enjoyable for Muslim consumers, it is important that engagement is genuine. Being ‘fake’, or coming across as insincere are death knells for brands in this space. And despite best intentions, brands should ensure that they work with experts who can build strong credibility based on genuine insight and understanding.
Whether you are in control of an established company, starting up a new one, or have responsibility for a brand within an Islamic country looking for growth, Layla Mandi and the Islamic Consumer Consultancy are indispensable to help build, improve and secure brand equity and value for your company.
An Opportunity for the Taking
What brands need to do now is deepen their insights into the spending power, tastes and brand values that appeal to Muslim consumers. Britain has one of the most sophisticated well-connected and untapped Muslim consumer populations in the world. It’s time for brands to pay attention.
- Represent the largest concentration of affluent Muslims in the world
- Retail sales have shown resilience even in the recent financial crisis
- Explosive growth in economy expected in Qatar, Saudi Arabia and Abu Dhabi
- Total market size of AFD 7.7 Billion in 2001, for all beauty products
- Average growth rate of 19% for the skin care industry in the region
- Fastest population growth rate in the world at 6%
- Young and vibrant population with almost 60% of the population below 25 years
- good long term prospects by cultivating the young customers right now as spending increases with age