CAIRO: Consumers in ¶¶Òõ¶ÌÊÓƵ and the UAE are set to spend more on vitamins and eating out in coming months than the global average despite inflationary pressure, according to a new survey.
Market research company Toluna published the findings as part of its ‘Inflation’s impact on global consumers’ report.
According to the research, only 49 percent of ¶¶Òõ¶ÌÊÓƵ consumers have seen higher grocery prices, compared to 57 percent in the UAE.
While 33 percent of consumers globally see the price as the main criteria for shopping for groceries, 24 percent in ¶¶Òõ¶ÌÊÓƵ prioritize quality standards as the prime criteria when choosing purchasing food.
UAE and Saudi residents are more concerned about the energy crisis and price hikes in the country, compared to global average. Â
Spending is expected to rise for...
- Vitamins and minerals: 47 percent of the UAE and 42 percent of Saudi-based respondents compared to only 27 percent on average globally
- Eating out: 45 percent in the UAE and 41 percent in ¶¶Òõ¶ÌÊÓƵ versus 30 percent globally
- Clothes: 42 percent in the UAE and 41 percent in ¶¶Òõ¶ÌÊÓƵ expect their spending on clothes to increase, respectively compared to 29 percent globally
- Spending during holidays: 40 percent in the UAE and 39 percent in ¶¶Òõ¶ÌÊÓƵ versus 31 percent globally
Rising energy bills
- Some 77 percent and 75 percent of respondents in the KSA and UAE respectively versus only 69 percent globally.
- Some 46 percent of the UAE respondents and 36 percent of their Saudi-based peers confirmed higher spending on smart solutions to reduce energy waste. This is versus 24 percent on average globally.
A more affordable spending strategy
- Some 40 percent of the UAE respondents and 36 percent of those in ¶¶Òõ¶ÌÊÓƵ confirm more frequent store visits help avoid product wastage, in comparison to the 29 percent on average globally.
- Similarly, 43 percent and 39 percent of UAE and ¶¶Òõ¶ÌÊÓƵ respondents, respectively, change supermarkets to a cheaper alternative relative to 31 percent globally.
- UAE residents will be willing to give up premium product purchases and cinema visits. Saudis on the other hand, are primarily willing to forego cinemas and eating out.Â
- Residents of both countries are not likely to reduce spending on health and fitness activities or on mobile phone contracts.
This study was conducted through an online questionnaire where 14,106 interviews were taken globally, including 500 interviews in the UAE, and 504 interviews in ¶¶Òõ¶ÌÊÓƵ, according to Toluna.
