"Luxury goods are all about superior brand image and the feel-good effect people get from buying them," says Maria Lambros, CEO of Cape Town-based Prestige Cosmetics. "People will pay R800 for a Christian Dior lipstick, even though there are lipsticks of very much the same quality available at R80."

It is a characteristic very evident among South Africa’s hugely aspirational black emerging middle-class consumers, often called ‘black diamonds’, the magazine reports. "They want to be seen wearing and using luxury goods brands," adds Rubab Shaihaldoolla, a luxury goods market analyst at research company Euromonitor.

"The-well-to-do in African countries want to be seen shopping in a Dubai or South African top-end mall," says Annalise van Rensburg of Signium, a global consulting firm. "They do not want to be seen shopping in malls in their own country." 

Figures supplied by Euromonitor, within the magazine, indicate that they account for 40% of spending in South Africa on luxury clothing and footwear, and 50% of spending on luxury watches.

The magazine shows how Sandton City in Johannesburg has emerged as the mall of choice for big spenders from other parts of Africa. "The mall has benefited a lot from the introduction of the Gautrain rapid-rail system," adds Van Rensburg. "People fly into OR Tambo International Airport, take the train to Sandton, do their shopping, and then return home – often on the same day." 

The IMM Journal of Strategic Marketing is published by the IMM Graduate School and is available in print and digital formats. It is read by professional marketers, business executives, and IMM Graduate School students. It is also distributed in eight African countries through the African Marketing Confederation.

The print edition is sold in selected CNA and Exclusive Books outlets or is available via subscription. Copies are also distributed to a targeted professional mailing list and through airline lounges and student support centres.

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