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TGM TRENDS PULSE

TGM Consumer Sentiment Survey in Saudi Arabia 2024

Understanding the pulse of consumer sentiment is now key to deciphering the evolving marketplace. Ready to confidently tap into the minds of Saudi Arabian consumers?

TGM Consumer Sentiment Survey in Saudi Arabia 2024

In the wake of global transformations, consumers are redefining their priorities. The ongoing global conflicts, geopolitical realignments, and the rapid pace of technological advancements have collectively given rise to an altered landscape. This seismic shift has not only reshaped consumer awareness but has also become the driving force behind unprecedented changes in behavior. Our independent survey dives into the heart of these changes, exploring how socio-economic shifts to geopolitical events are influencing the mindset and actions of consumers across Saudi Arabia.

TGM Consumer Sentiment Survey in Saudi Arabia 2024

The report is essential for understanding Saudi Arabian consumer sentiments and behaviors amid economic uncertainties and global conflicts. You can download free report here

Primary Concerns of Consumers Today: Navigating the Winds of Change

In a society grappling with economic challenges, lifestyle adjustments become an undeniable reality. A noteworthy 64% of survey respondents acknowledge making recent modifications to their lifestyles within the past three months. Within this context, three paramount concerns have surfaced as potential drivers behind their behavioral shifts:

Health and Wellbeing (35%): Health and wellness have outpaced environmental and climate change concerns, reflecting a heightened focus on personal well-being.

Financial Security (13%): Ensuring financial stability remains one of the top priority amid economic uncertainties.

Rising Prices (12%): With inflationary pressures still looming, consumers are keenly observing the cost of living and its impact on their budgets.

Primary Concerns of Consumers Today: Navigating the Winds of Change

Consumer Response: Adapting Strategies for the Future

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 Saudi Arabia is poised to persist. Our report highlights:

Reducing Future Purchases (57%): More than half of respondents plan to curtail their future purchases of products/services, particularly in the Transportation and Fuel category.

Embracing "Buy Now, Pay Later" (50%): Half of consumers plan to leverage "buy now, pay later" services, showcasing a slow shift towards more adaptable payment options.

Taking Loans (32% aged 35-44): Noteworthy among all age groups, individuals aged 35-44 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.

Experimenting With Apps (69%): A sizeable portion of respondents plan to try a new digital shopping method such as ordering groceries on an app over the next three months, reflecting a shift towards embracing technology for convenience in shopping.

Methodology

  • Market studied: Saudi Arabia
  • Sample: N=1,007
  • Targeted Audience: General Population
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