SINGAPORE, 10th April - TGM Research, a technology-driven market research company with expertise in global online data collection and innovative survey technology, announces the release of its latest findings on the evolving landscape of Egyptian consumer behaviour, as presented in the TGM Consumer Sentiment Survey in Egypt 2024. This extensive survey meticulously analyses the shifting dynamics, preferences, and expenditure patterns of a diverse sample of over 1,213 respondents aged 16-55+ residing in Egypt.

“As we analyse the findings of our latest survey, it becomes apparent that Egyptians in 2024 are primarily concerned with key issues, notably the impact of rising prices on their behaviour and anticipated changes in spending habits. This valuable insight offers businesses an opportunity to make informed decisions and strategically plan for the challenges and opportunities presented by the shifting landscape of consumer sentiment in the year ahead.” Greg Laski, CEO and Founder of TGM Research says.

Summarised below are key insights from TGM Consumer Sentiment Survey in Egypt 2024:

The survey, which gathered data from a diverse cross-section of the Egyptian population, underscored a pervasive apprehension regarding the escalation of prices across various categories. According to the findings, 32% of respondents identified this issue as their primary concern. This sentiment was particularly pronounced among the 40-55 age group, with 38% expressing it.

The second major concern among all surveyed individuals in Egypt is financial security, selected by 16% of respondents. While this concern is prevalent across all age groups, it resonates more significantly among individuals aged 30-39, indicating the challenges faced by this generation in navigating economic uncertainties.

Amidst the mounting unease surrounding rising prices, 79% of Egyptians express genuine concern about the escalating costs of everyday items, with a staggering 68% anticipating a further increase in prices over the next three months. This surge in anxiety has spurred action, with 62% of respondents altering their lifestyles to cope with soaring prices. Furthermore, 55% intend to cut back on future purchases of products/services as a strategic move to cushion the blow of rising costs on their financial stability.

Interestingly, the burden of escalating costs of everyday items weighs most heavily on the older age groups, with individuals aged 30-39 feeling the economic strain acutely at 85%. In contrast, while not impervious to the issue, young adults aged 16-24 seem to regard it with less urgency at 71%.

A significant majority, comprising 47% of respondents, indicated their intention to maintain the current housing budget, covering rent and mortgage expenses, showcasing the priorities of Egyptian individuals over the next three months.

While most Egyptians plan to keep their budgets steady, shifts are expected in certain categories. Notably, 43% of respondents foresee increased spending on transportation and fuel, with 12% of that group planning to allocate significantly higher funds to this category.

In terms of energy and utilities, 32% of respondents express an intention to allocate less, with 9% planning to allocate significantly less in the next three months.

A substantial segment of Egyptian respondents, comprising 44%, are keen on exploring new digital shopping methods for purchasing groceries and essential items within the forthcoming three months. Among respondents, females exhibit a higher interest level at 48% compared to their male counterparts. This trend underscores a robust inclination towards leveraging digital platforms and applications for fulfilling shopping requirements. Furthermore, a significant 44% of female participants expressed readiness to explore alternative websites for shopping, indicating a discernible shift in customer loyalty.