Consumers in KSA to implement smart spending strategy
- Date: 22-May-2022
- Source: Zawya
- Sector:Economy
- Country:Saudi Arabia
Consumers in KSA to implement smart spending strategy
Adapting by choosing alternatives
KSA residents expected an increase in spending in the coming period, particularly on food (+47%), vitamins and minerals (+42%), clothes (+41%) and eating out (+41%).
To keep pace with the rise in prices, 41% of KSA respondents confirmed their intention to visit more food stores in search of value compared to 34% globally, while 36% will shop more frequently to avoid wastage and get better offers compared to 29% in the global markets. 28% said they were willing to change the brands of food they usually buy, versus 26% globally and 33% said they were willing to shop less frequently, but in bulk, compared to 27% at global level. While 33% globally see the price as the main criteria for shopping for groceries, 24% in the KSA prioritize quality standards as the prime criteria when choosing the food they buy.
Moreover, unlike global markets, 48% of respondents said they will continue to spend on their homes and furnishings, while stating that they are prepared to search for more cost-effective products, compared to 34% globally.
Sakina Mannan, Senior Account Director for Toluna MEA, commented on the study findings: "There is no doubt that global inflation has also caused a hike in