Archive for : AMCC 2014

Here’s what happened when companies catered to Muslim consumers

The Economist conducted a study in 2012 showing that over 50% of businesses who catered to the Muslim consumer enjoyed an “annual growth in revenue of at least 5%, while 34% are registering higher than 15% growth. The same participants are sanguine about the future: over 60% of respondents foresee at least 5% growth in three years, while 43% envisage growth in revenue higher than 15%.”[1]

From Best Buy running a simple Eid holiday greeting campaign which translated into a 13% increase in annual sales, to Walmart opening a store that caters to the Muslim community in Michigan, to Whole Foods’ introducing Saffron Road halal food products into their stores nationwide, it’s clear that there is real growing market potential that these corporations are tapping into. [1] [2] Published research and studies are continuing to show that American Muslim consumers have over $170 billion in buying power, yet the market has yet to fully cater to this buying power by providing targeted products and services. [3]gieWith the current global Muslim population ballooning to 1.8 billion and growing rapidly, very few businesses can afford to ignore this demographic.[4] More than 50% of the Muslim population is under the age of 25, accounting for 10% of the world’s population, and businesses are beginning to understand the vital need to engage this audience while the opportunity is at its peak.

The US Census Bureau reported that there were an estimated 6 million American Jews in 2008, while Zogby International estimated the number of Muslims to range up to 7 million in that same year, and yet a Muslim lifestyle network stated that for every halal product in the US there are 800 kosher products. [4] Therefore it’s easy to understand why a poll found 76% of American Muslims wishing American companies “would provide a wider range of products with specific appeal to the Muslim consumer.” 98% of companies don’t reach out to Muslim consumers, while over 80% of this population claims to be loyal to a product that supports Islamic identity. [5] [6]

[1] mgthink/downloads/The%20Sharia-ConsCious%20Consumer%20-%20WEB.pdf


[3] Ibid. 1.

[4] Ibid. 2.

[5] Ibid. 2.


A Message to Entrepreneurs (And a $10k Prize)

At the American Muslim Consumer Consortium (AMCC), we firmly believe that the global Muslim market is under served, yet possesses a great deal of upward potential for entrepreneurs to innovate, create, and avail upon. Through our work, AMCC has found that creativity and ingenuity in producing unique items to fulfill the Muslim market needs result in wide buy-in and success. We also recognize that real entrepreneurs are a unique breed of humans, with an imbued talent of identifying and risking extraordinary lengths to fulfill market needs.

As a result, 2010 saw our introduction of the Entrepreneur Showcase for the first time at the American Muslim Consumer Conference. Since then, we have identified successful entrepreneurs who have produced viable products and services benefiting the Muslim consumer for the last three years. For each of those fourteen unique ventures, we have provided the opportunity to showcase their business to a panel of experts for guidance on how to further improve, in order to maintain their long term sustainability.

In an effort to live up to this year’s theme, “Muslim Market – Global Perspectives: Entrepreneurs Driving Change,” AMCC is looking for entrepreneurs who believe their products or services have the potential of being truly global game changers, entrepreneurs whose work comes from socially responsible ideas that benefit the world of consumers yet comply with Islamic values.

Over the last three years, the hours our team has spent interviewing and reviewing hundreds of ideas and business models has taught us that creating a viable business is easier said than done. As a result, this year, we will be awarding the winner of the Entrepreneur Showcase with $10,000. This prize is being made possible by Barkaat Capital, a company founded by one of our past showcase contestants.

Apply Now for the Entrepreneur Showcase

(Deadline is September 15, 2014)

Applicants will go through a stringent review process, and those selected for the showcase will be coached on their conference presentation. The conference will be taking place this year on November 15, 2014, at the Double Tree by Hilton Hotel, Newark Airport, New Jersey. Please visit the conference page for further details.