Health Emerges as a Leading Concern for Emiratis, TGM Research Reveals

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 the UAE consumer behaviour, as presented in the TGM Consumer Sentiment Survey in the UAE 2024. This extensive survey meticulously analyses the shifting dynamics, preferences, and expenditure patterns of a diverse sample of 382 respondents aged 16-55+ residing in the UAE.

“As we analyse the findings of our latest survey, it becomes apparent that Emiratis 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 the UAE 2024:

The latest finding identifies health and well-being, rising prices, and financial security as the top three concerns among Emiratis, reflecting pressing issues across the UAE.

Notably, health issues are of greater concern to females (21%) than to males (17%). Rising prices also alarm a significant portion of women, with 22% highlighting it as their top concern. When considering age demographics, individuals aged 16-24 exhibit relatively lower apprehension about rising prices, standing at just 14%. In contrast, those aged 40-55 demonstrate the highest level of concern, reaching 24%. Moreover, financial security emerges as a prominent concern for both women and older residents, indicating a diverse range of worries spanning various demographics within the UAE population.

Emiratis are feeling the pressure from rising prices, with 69% worried about the cost of daily items, especially those aged 40-55 at 79%. A similar concern is seen in the anticipation of future price increases, shared by 61% of Emiratis, regardless of gender.

In response to current challenges, 59% of respondents have made adjustments to their lifestyles over the past three months to cope. Notably, this adaptation is more prevalent among older adults aged 40-55, with 71% reporting changes, compared to 42% among the younger demographic aged 16-24. Additionally, over half (51%) of the surveyed individuals express intentions to curtail future purchases of products and services. Interestingly, there's a discernible contrast in the inclination to reduce spending between genders, with 55% of males and 48% of females expressing such intentions. These findings suggest a proactive approach by Emiratis towards managing their expenses amidst economic uncertainty.

While the majority of Emiratis intend to maintain their current level of expenditure, there is a notable shift in how they distribute their budgets. Specifically, 36% of the population plans to increase spending on transportation and fuel, with males showing a stronger inclination towards this trend at 40%.

Conversely, a quarter of both male and female Emiratis are looking to reduce their financial outlay on energy and utilities. Among the younger demographic aged 16-24, there is a significant interest in investing more in housing costs, with 42% planning to increase their spending on rent or mortgages. Developers and real estate agents may need to adapt their strategies to cater to the preferences and financial capacities of this demographic.

According to the survey, 57% of Emiratis intend to explore new methods of purchasing groceries and essentials online within the next three months, with a slight inclination towards this trend among women (58%). The utilization of apps for grocery shopping is gaining traction, indicating a growing preference for this convenience.

Moreover, online shopping is poised to witness further growth, with 48% of Emiratis display heightened interest in transitioning from traditional in-store purchases to online platforms. Conversely, among respondents, the idea of returning to physical stores after experiencing online shopping is the least favored option.