The Emer erging ging Halal lal Unicorns icorns & Strate tegic gic Mar arketing eting By Irshad A Cader CEO/ Managing Director - Globothink consultants Australasia & Middle-East - Australia.
World Muslims’ Demography • Muslims represent an estimated 23% of the global population or about 1.8 billion consumers with an average growth rate of 3% per annum. The global Muslim population is expected to reach 2.2 billion by 2030 . • • Majority of the world’s Muslims: - 60% Asia Pacific region - 20% in the Middle East & North Africa - 20% other regions • Global Muslim market is attractive due to the largely young and part of an emerging middle class on the road to greater consumption.
OIC member countries – 05 countries AMU – 06 countries GCC – 09 countries Middle East – 16 countries ASIA – 21 countries Sub-Saharan Africa Total of 57 Member countries
Global Halal Market - an overview • The global halal industry is estimated to be worth around USD2.1 trillion (excluding Islamic finance) The Islamic Finance market has been able to sustain its total assets value at • approximately USD2.4 trillion.. The most promising halal markets are the fast-growing economies of Asia, Middle • East, Europe and the Americas. The halal industry has now expanded beyond the Food & Finance sectors to • include: - Pharmaceuticals - Cosmetics & Healthcare products - Travel & Tourism - Fashion - Media & Recreation
Global Halal Market – an overview State of the Islamic Economy report 2018/19
Islamic economy - reasons for the growth Four Major Reasons for the Growth: 1. Increasing youth population with high disposable incomes. Muslim youth are now accounting for 11% of the world’s population and are representing just under half of the total global Muslim population. 2. Speedy growth of economies in the Middle East and Asia . These economies are likely to emerge as popular destinations for Halal food, Halal fashion and Halal tourism. 3. The growing Islamic consumerism amongst urban middleclass Muslims in countries with a large population of Muslims, such as Indonesia, Pakistan, Turkey and Muslim minority countries such as India, China and Russia has set a new trend in the halal industry. 4. Tuning in with the latest developments in technology and investment, incorporating the smart technologies , and tapping into the growing trend of ethical products and services.
Global Islamic Economy - Indicator State of the Islamic Economy report 2018/19
Global Islamic economy Vs Indonesia Indonesia has the largest Muslim population in the world, spending in aggregate US$218.8 billion across the Islamic Economy sectors in 2017. Indonesia’s Indonesia’s Halal Sector Market size Market Indonesia 2017 forecast expenditure Position Position in the 2023 on expenditure Halal economy Halal Food US$1.3 US$1.9 trillion US$170 Bn 01 - trillion Islamic Finance US$2.4 US$3.8 trillion US$82 Bn 08 10 trillion Halal Travel US$177 Bn US$274 Bn US$10 Bn 05 01 Modest Fashion US$270 Bn US$361 Bn US$20 Bn 03 02 Halal Media US$209 Bn US$288 Bn US$10 Bn 06 - Halal US$87 Bn US$131 Bn US$5.2 Bn 04 - Pharmaceutical Halal Cosmetics US$61 Bn US$90 Bn US$ 3.9 Bn 02 -
Indonesian Unicorn brands
Your Business Check list • Have you identified your target market – Local and overseas? Have you done a SWOT analysis for your organization? • Have you evaluated your available resources? • Have you got a sufficient production capacity? • Have you identified your s taffs’ capabilities? • • How far you have you embraced the technological changes into your business? Are you well aware of your competitors? • How strong is your marketing department? Have you drawn a Marketing Plan? • Do you have a R&D department? • Is your staff training calendar active? •
Strategic Marketing Product/ Services strategy: Product/ service research and USP. • Quality of the product/ Service. • Halal certification. • Packaging. • • Finishing/ Final offer. Bench marking with the Regional/Global brands. •
Strategic Marketing Advertising & Promotion: • Development of a Website • Development of an App • Content writers Digital Marketing • Social media platforms – Fb, IG • International Magazines/Airlines • Global Halal Websites • Appointment of a Marketing agency • Merchandising materials Conventional • Brochures/ Display stands/ B-cards • Participate in the expos/ trade shows Marketing • Advertising campaigns • Sales promotions
Strategic Marketing Pricing strategy: Pricing determines your profitability. • Competitive pricing vs Over pricing. • Pricing for the local market vs overseas market. • Constant monitoring of the pricing policies. • • Online pricing vs market pricing. Place/ Distribution strategy: Easy accessibility to your target market – Shops/Supermarkets/Showrooms. • Warehousing – central/ decentralized. • • Logistics and warehousing – local & abroad. Online delivery – Uber/Grab. • Contract delivery. •
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