TGM TRENDS PULSE
TGM Consumer Sentiment Survey in Egypt 2024
TGM Consumer Sentiment Survey in Egypt 2024
TGM Consumer Sentiment Survey in Egypt 2024
Primary Concerns of Consumers Today: Navigating the Winds of Change
Rising Prices (32%): With inflationary pressures still looming, consumers are keenly observing the cost of living and its impact on their budgets.
Financial Security (16%): Ensuring financial stability remains one of the top priority amid economic uncertainties.
Health and Wellbeing (15%): Health and wellness have outpaced environmental and climate change concerns, reflecting a heightened focus on personal well-being.
Consumer Response: Adapting Strategies for the Future
As the global landscape undergoes dynamic shifts in socio-economic paradigms this year, the ripple effect on consumer behavior within Egypt is poised to persist. Our report highlights:
Reducing Future Purchases (55%): More than half of respondents plan to curtail their future purchases of products/services, particularly in the Energy/ utilities category.
Embracing "Buy Now, Pay Later" (32%): A third of consumers plan to leverage "buy now, pay later" services, showcasing a slow shift towards more adaptable payment options.
Taking Loans (19% aged 30-39): Noteworthy among all age groups, individuals aged 30-39 are most likely to take a loan in the next 3 months. This group's willingness to leverage credit suggests a level of financial confidence and adaptability that aligns with their forward-thinking mindset.
Exploring Private-Label Brands: A significant chunk of respondents plans to experiment with private-label brands for groceries and essentials, indicating a departure from brand loyalty and a shift towards value-based decision-making.
Methodology
- Market studied: Egypt
- Sample: N=1,213
- Targeted Audience: General Population