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What are the underlying demand drivers in the Vogue magazine in Israel industry?
Hello! Thanks for your question about the underlying demand drivers for Vogue magazine in Israel. The short version is that there is strong indication of demand for a magazine such as Vogue in Israel, particularly among the population of Tel Aviv and surrounding areas. Below you will find a deep dive of my findings.
METHODOLOGY
I have searched for any indicators of demand and projected trends in fashion for Israel, focusing where possible on recent statistics (except where these do not exist and older statistics demonstrate trends). I have tracked down any key indicators of demand, either for those who would buy the magazine or for advertisers to support the cost of production.
VOGUE IN THE MIDDLE EAST
Although Vogue is not currently established in Israel, there is evidence that the Middle East as a region has established demand for this type of fashion and culture magazine. Vogue Arabia "launched in October 2016" as "a historic, digital first launch for the Vogue brand." This will be "followed by a print magazine" in Spring 2017. Although Israel is culturally different, this is worth noting, since "1,796,000 (20.8%) [of the population of Israel] are Arabs".
Statistics for the digital version of the magazine look good, with 390,000 visits in total in November 2016 (a month after launch). However, it is worth noting that December 2016 only saw 170,000 visits (less than half the traffic from November), and that the demand appears to be largely driven by interest from outside the Arab nations themselves, with 3 out of the top 5 countries for visitor numbers being outside the region. The top country by number of visitors is the United States, accounting for nearly 20%.
DEMAND INDICATORS
According to Statista's market forecast for Israel, the fashion segment amounts to $735 million in 2017, and is expected to show an annual growth rate of 11.1%. This will mean that in 2021 the market volume will be $1.12 billion.
Tel Aviv is the key driving force behind Israeli fashion interest, as can be seen from the number of references to the city by Israel's Ministry of Foreign Affairs fashion page. According to a 2016 Culture Trip article, "Tel Aviv is considered to be particularly fashion-forward, with new and internationally recognized designers emerging all the time. " Tel Aviv also holds a yearly fashion week, now in its fifth year, which will coincide with "the 60th anniversary of one of Israel most famous fashion houses – the swimwear brand Gottex, which in the past has boasted super models such as Cindy Crawford and Claudia Schiffer as its presentors." Students of Shenkar College, itself located just outside Tel Aviv, will be making their own show at the fashion week. Shenkar College is "ranked within the top 10 in the world by Business of Fashion."
Large, international brands have for some time enjoyed a strong marketplace position over smaller local brands in Israel. This trend looks set to continue, with brands such as Sketchers expanding their Israeli reach. "International footwear brands are more popular than ever in Israel." Demand from international brands for advertising space is therefore likely to be good.
In Israel, "every town has at least one big mall", with Haifa, Tel Aviv and Jerusalem boasting some of the most respected fashion outlets. According to statistics, of Israel's 7.99 million citizens, Jerusalem has a population of 801,000, Haifa 267,300 and Tel Aviv 250,000.
The appetite for fashion in Israel is buoyant, with plenty of fashion bloggers (again with many hailing from Tel Aviv). This appetite suggests a potential interest for the magazine.
An article from 2016 identifies that "The Israeli fashion scene is expanding, and Israeli designers are gaining notoriety all over the world." The same article goes on to describe current trends in Israeli fashion, such as the fact that "most of the designers try to use eco-friendly materials."
CONCLUSION
To wrap it up, there are strong indications of demand for a magazine like Vogue in Israel. However, it should be noted that the majority of interest for a similar Arabia launch appears to have come from outside the Arab nations themselves.
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