Africa stands as home to one of the globe’s most rapidly expanding consumer markets, set to encompass 1.7 billion individuals by 2030. With an anticipated near 50% increase in ‘ultra-high net worth’ residents boasting assets over $30 million this year alone, the continent is ripe with retail prospects. Consumer and business expenditure in Africa is predicted to hit around US$6.6 trillion by 2030, driven by demographic expansion and urbanisation.
Unlocking potential through Continental Free Trade
The African Continental Free Trade Area emerges as a beacon of economic empowerment, promising to amplify continent-wide prosperity by enhancing intra-African trade. As companies stretch their boundaries into new territories, they not only fuel economic growth but also elevate infrastructure and general well-being. This eradication of trade hindrances opens a world of possibilities for SMEs, spurring entrepreneurship, innovation and local industry growth, thereby enabling individuals to leverage emerging consumer trends.
Digital dynamics and sustainable shifts
The landscape of consumer behaviour has seen a marked shift, with a Nielsen report highlighting a 68% decrease in physical supermarket visits amidst a 37% hike in online shopping activity in South Africa, post-COVID-19. By 2025, South Africa’s e-commerce value is projected to surge to R225 billion, indicating a broader market potential of R400 billion. The continent’s e-commerce sector is also on a trajectory to witness an 18.21% annual growth rate, reaching a projected US$72.04 billion market value.
SAITEX 2024: where commerce meets innovation
The Southern African International Trade Exhibition (SAITEX) has long stood as a pivotal platform for trade and business opportunities. Its 30th edition, set from 11 – 13 June 2024 at the Sandton Convention Centre, promises to be a crucible of international and local trade relations. This edition is poised to showcase innovation, solutions and services to an array of buyers, retailers, distributors and wholesalers from various sectors. The event’s new venue offers enhanced accessibility for international guests, with direct flights from African destinations into OR Tambo and convenient Gautrain links to Sandton CBD.
Navigating the new norms of trade and innovation
SAITEX 2024 aims to illuminate the flourishing sectors of beauty, cosmetics, health care, apparel, consumer electronics, furniture, lighting, homeware, and giftware, amid Africa’s burgeoning market landscape. With the exhibition facilitating unparalleled networking opportunities and providing a platform for the latest industry trends and innovations, it stands as an indispensable event for importers, wholesalers, retailers, and product manufacturers.
Fostering connections and unveiling new opportunities
In an exciting new development, SAITEX introduces its Matchmaking System, enabling attendees to secure meetings with leading exhibitors, fostering potential deals and partnerships. This innovation underscores SAITEX’s commitment to enhancing attendee experience and maximising business opportunities, further cementing its role as a cornerstone event for industry professionals across the continent.
With SAITEX co-located alongside Africa’s Big 7 and the Hotel & Hospitality Expo Africa, attendees are offered a comprehensive journey through the latest in retail-ready food products, furnishings, dΓ©cor, and accommodation trends, all under one roof.
