Muslim consumers in the media

The National
Corporate U.S. gets to know Muslims

The Huffington Post
The overlooked USD 170 billion of American-Muslim spending power

ABC News
Muslims flexing their economic muscles more often, more creatively

Entrepreneur
The Muslim market: How can you reach out to this fast-growing group of consumers


DinarStandard

Muslim world business sector continues to grow

For the fourth consecutive year DinarStandard’s DS100 ranking of the top 100 businesses in the Muslim world provides a reliable benchmark to understand the progress and overall state of businesses in Muslim world economies.

This year’s ranking is noteworthy not only for the continuing effect of oil price driven revenue windfall for the Oil & Gas companies on the list, but also how these have impacted an even greater rise for infrastructure and service sector companies.

The 2007 DS100 had a combined USD 1.08 trillion in total revenues (based on EOY 2006 data) and grew 14.5 % over the year before.


The New York Times

U.S. Muslims disposable income estimated at USD 170 billion

For years, few advertisers in the United States have dared to reach out to Muslims.

Either they did not see much potential for sales or they feared a political backlash. And there were practical reasons: American Muslims come from so many ethnic backgrounds that their only common ground is their religion, a subject most marketers avoid.

That is beginning to change. Consumer companies and advertising executives are focusing on ways to use the cultural aspects of the Muslim religion to help sell their products.


Advertising Age

Marketers must engage the Muslim consumer

It’s a USD 170 billion market, why aren’t you targeting it?

“I’ve seen plenty of things making fun of us. … We would love to be part of a general marketing campaign if the media world would accept Muslims as a common part of the North American diaspora.” — Amethyst, creator of Ninjabi.


Euromonitor International

Spotlighting Europe’s Muslim consumers

Islam is the religion of a vast and growing number of consumers around the world. There is strong evidence to suggest that religious affiliation plays a significant role in consumer behaviour.

As sources like the Journal of Euromarketing point out, enhanced knowledge of religious differences in consumer decision-making can have a marked impact on the effectiveness of global marketing strategies.


China Elections & Governance

Chinese Muslims join global Islamic market

They are forging economic ties with the Muslim world at a time when interest in Islam is also growing.


DinarStandard

Indian Muslims Inc.

The Indian Muslim market population is 151 million strong. DinarStandard estimates their total annual household income of USD 48 billion (Avg. Household Income x Avg. Household size x Population).

It also boasts the highest level of household goods expenditure compared to any other religious segment in India (at 69% of income according to Survey of Household Income and Expenditure (2004-05.)

For any marketer, this has to be an attractive market demanding exclusive focus.


Der Spiegel

Growing Muslim market — Why a Swiss village makes halal pastry

A Swiss village is churning out puff pastry that adheres to strict Islamic food guidelines and is exported half way across the world. It’s all part of the growing global demand for halal food products.

Walter Leisi is holding two rolled cylinders of dough in his hands, each wrapped in glossy foil, one labeled in French and the other in Arabic. Each package contains the same puff pastry, a concoction of 196 layers of flour, margarine, butter, water and salt — the same, but for one difference, a tiny but decisive difference: one is preserved with alcohol and the other with potassium sorbate.

They taste the same, but they smell somewhat different. The dough preserved with potassium sorbate smells “slightly more cheesy,” says Walter Leisi, 63, a jolly Swiss man wearing a purple short-sleeved shirt and a gold watch. Leisi is the director of a Nestlé plant in the Swiss town of Wangen bei Olten. He is also the inventor of Leisi-Quick, the world’s first ready-made puff pastry, which is packaged on baking paper and sold in refrigerated, but not frozen, form and is thus ready for baking. The factory produces more than 41,000 tons of freshly made dough a year, an enormous quantity.

But in the case of Leisi-Quick, the real issue is not taste or smell, but God’s will.


The Independent

Selling planet Islamic

Trend-spotters are finally waking up to the power of the Muslim pound.

Marian Salzman is one of the world’s foremost trend-spotters, a woman who can see something coming before others have even raised their heads above the parapet. And the next big thing in marketing, she reckons, is the Muslim pound.

They are the equivalent to Latinos in America – a huge ethnic group with its own special needs and interests. According to Mintel, a market research company, the estimated spending power of Muslims in the U.K. is GBP 20.5 billion. There are more than 5,000 Muslim millionaires in the U.K., with combined assets worth more than GBP 3.6 billion.


Jewish Exponent

U.S. Muslim population tops Jews, says scholar

Haverford College political scientist Harvey Glickman stated during a recent presentation that various population studies now show that Muslims, and not Jews, represent the largest non-Christian religious group in the United States.

Glickman, also a fellow at the Foreign Policy Research Institute, said that estimates as to the number of Muslims residing in America range from between 3 million to more than 6 million, though he believes the true figure to be closer to the higher end of the spectrum. According to the 2000-01 National Jewish Population Survey, an estimated 5.2 million Jews live in the United States.


Emirates Business 24/7

Muslim consumer market still untapped

Companies targeting growth must increase focus on Muslim consumers who are now recognised as a strong and growing global segment.

According to AT Kearney, a global strategic management consulting firm, companies should consider how to best tap into the Muslim consumer market for Shariah-compliant products and services with a global worth of estimated USD 2 trillion (AED 7.34 trillion) annually.

Related Al Haqq Society research:

The life and times of the modern Muslims

Filed under: Demographic, Research , Advertising, China, DS100, India, Islamic Finance, Muslim Consumer, Muslim Market, Muslim Population