"With the COVID-19 pandemic rolling over a year, Saudi Arabia consumers' behavior changes have not shown signs of returning fully to the pre-pandemic era. Today, consumers continue to be more price-conscious in their shopping habits, preferring purchases of less-expensive essential products and hesitating to indulge in tertiary products.
Today, 42 percent of Saudi Arabian residents are displaying price sensitivity in goods' purchases, evident from the growth of online shopping browsing time and the overall consumers' basket majorly filled with value-for-price products.
In contrast, discretionary categories such as cruises, jewelry, out-of-home entertainment, and footwear still tend to grow negatively, with cruises recording the most significant drop of 41 percent regardless of the reopening economy and tourism destinations.
Thus, the challenge lingers on the trend of delivery businesses, such as restaurant and grocery deliveries. Such business models showed robust growth and traffic due to the pandemic in the past year. Consumers are on the brink of significant changes once more, demanding enterprises to reevaluate their strategies and investments done for digitalization during the pandemic and figure what works best for the operations.
Our expert team at Market Research Saudi Arabia will help clients seize extensive opportunities in the regional market across the different segments, including digitalization, digital marketplace, and wallet and social networking services. We are committed to guiding them in anticipating changes in buyers' needs and winning the market competition."
