77% of KSA Consumers are Shopping More Online Since the Start of Pandemic, Reveals Mastercard Study

  • Date: 24-Nov-2020
  • Source: Eye of Riyadh
  • Sector:Retail
  • Country:Saudi Arabia
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77% of KSA Consumers are Shopping More Online Since the Start of Pandemic, Reveals Mastercard Study

As the global COVID-19 pandemic continues to spur e-commerce, a Mastercard study has revealed the rapid growth of online shopping, with nearly three out of four Saudi consumers shopping more online than they did before the pandemic.  The study provides significant insights into how shoppers are rapidly moving away from cash and opting for contact-free and digital payment experiences. These insights are helping e-retailers and businesses in Saudi and across the region, to leverage the shift towards online shopping and to deliver fast, convenient and secure transactions. Surge in Spending Across Sectors According to the survey, groceries, healthcare, apparel and banking have seen the highest surge of online activity.  More than 68% of Saudi consumers said they had shopped online for groceries, 73% for clothing, and over 65% of respondents said they had purchased medicine online. And, as e-commerce increasingly becomes a part of everyday life, consumers are moving other aspects of their financial management to digital, with 64% of respondents having started banking online.  The research also reveals the rising impact of social media on consumer spending habits, with 58% and 61% of respondents saying they had discovered new sellers through Facebook and Instagram respectively. Mastercard has been working with businesses, financial institutions and other