Grocery, apparel spending likely to increase among UAE consumers in the future

Grocery, apparel spending likely to increase among UAE consumers in the future

Around the world, many consumers are feeling the effects of rising inflation and the rising cost of living, forcing them to cut back in areas of spending to try and balance their finances. Latest data from YouGov’s Global FMCG/CPG & Retail whitepaper 2023 – Changing purchasing habits in a cost-of-living crisis, shows that more than two in five (44%) consumers in UAE have seen a decrease in their disposable income over the past 12 months while 27% have seen no change. With only 22% having experienced an increase, overall, the negative impact on disposable income outweighs the positive more by two-fold. When it comes to changes by age groups, we can see how the over 35 are hit hard by inflation, with the 55+ adults experiencing the hardest impact (at 53%). On the other hand, young adults between 25–34 years appear to be the least impacted. The report also explores the products and services that are showing increasing price sensitivity in the past six months. Food related products rank in the top four most price sensitive categories with groceries being the top concern for more than two in five UAE consumers (44%). A similar proportion (41%) is conscious of the