Saudi consumers plan more spending amid optimism over vaccine rollout - report
Saudi Arabia’s consumers have been increasing their spending over the past months more than the global average, while 20% of Saudis intend to spend more on an ongoing basis post-pandemic, a report by AlixPartners unveiled on Tuesday.
The targeted spending by Saudis is more than any other nationality, as 85% of the surveyed Saudi consumers showed optimism about the vaccination programme, compared to 71% globally.
One of two consumers worldwide would permanently change their consumption habits as a result of the COVID-19 pandemic’s effects. The report indicated that 41% of Saudi Arabian consumers had permanently altered their purchase habits, versus 44% of global shoppers.
Saudi consumers have been also reducing spending cuts, in a pace faster than the global average. They plan to shift to online shopping more rapidly post-pandemic; 79% of the respondents said they are changing the way they shop, compared to 57% globally.
The report added that 32% of the Saudis are shopping more online, compared to 25% on the global level.
AlixPartners has surveyed over 7,000 consumers in China, France, Germany, Italy, Japan, Saudi Arabia, Switzerland, UK, and US.
Spending on categories like dining out and out-of-home entertainment is expected to be less impacted by reduction plans.
Saudi Arabians mainly focus on water and energy conservation when planning to spend their money, according to the report.
Director at AlixPartners, Hisham Abdulkhalek, said: “Retailers must still invest in omni stores of the future, with more attention to in-store experience built around curated offering, digitisation, and social experience; whilst optimising operational levers in terms of space, labour, inventory allocation, and delivery.”
