• 39% of KSA consumers exhibit confidence in their spending habits, a stark contrast to the mere 22% observed globally.
  • A substantial 69% of KSA consumers anticipate an improvement in their financial situation shortly, contrasting with the 37% reported in global markets.
  • In KSA, 83% of consumers advocate for brands to be accountable to consumers, surpassing the global figure of 80%.
  • A significant 53% of KSA consumers acknowledge that the increasing cost of living is affecting their health and well-being, contrasting with the global rate of 47%.

KSA - Toluna, a leading global market research, consumer insights, technology, and consulting group, released its Global Consumer Barometer Wave 24 report This comprehensive study unveils striking differences in consumer sentiment and expenditure patterns between the Kingdom of Saudi Arabia (KSA) and international markets.

Amidst a landscape where prudence intertwines with optimism, the KSA emerges as a leading light of hope. An impressive 69% of KSA consumers anticipated an enhancement in their financial status over the forthcoming three months, in stark contrast to the global average of 37%. Furthermore, 39% of KSA consumers are confident in spending money, compared to the global figure of 22%.

The ramifications of the prevailing cost-of-living crisis echo across borders, as 52% of KSA consumers opt to defer significant expenditures until economic stability prevails, mirroring the sentiment observed globally.

In an endeavor to manage their finances wisely and bolster savings, KSA consumers are limiting expenses on social engagements and luxury indulgences. Notably, 29% opt to reduce spending on luxury goods or services, 28% on takeout meals, and 24% on holidays/vacations. This paradigm shift underscores a remarkable inclination towards prioritizing health and well-being, evidenced by 54% of KSA consumers pledging to enhance their focus on personal health, and 51% advocating for improved access to healthy dietary options and exercise facilities.

On the expenditure front, KSA consumers strategically allocate increased budgets for essential commodities such as groceries (53%), clothing and accessories (47%), everyday healthcare products (45%), and personal care items (43%). Conversely, luxury items experience a downturn, reflecting evolving consumer preferences amidst prevailing economic uncertainties.

Despite the prevailing economic headwinds, KSA consumers exhibit solid resilience. However, the looming specter of the energy crisis casts a shadow over spending plans for a significant 66% of KSA consumers. Overall, globally, consumers remain cautious yet hopeful. The outlook is much more positive in KSA with 66% feeling very satisfied with their lives compared to 45% globally.

A call for brands: Environmental, Social, and Ethical Considerations

87% of consumers in KSA emphasize the importance of brands being socially responsible, stating it is equally or more crucial to them now, despite the current economic situation—compared to 77% globally. Additionally, 83% of KSA consumers believe that brands should be accountable to consumers, surpassing the global average of 80%. However, 74% of consumers express a desire to choose brands based on environmental and social factors, yet lament the lack of sufficient information to make decisions, as compared to 64% globally.

The three most significant actions for brands to undertake, as indicated by 72% of KSA consumers, are to be sincere and authentic in their practices, compared to 66% in global markets. Furthermore, 57% emphasize the importance of brands committing to reducing the use of plastic, paper, and packaging, while 65% advocate for brands implementing policies that benefit the environment and society—compared to 55% globally.

Moreover, 74% of KSA consumers agree that positive environmental and social activities significantly influence their brand preference, compared to 68% globally. 77% proactively seek out brands that align with their values, and 78% have either began using a brand or increased their usage due to its positive environmental and social initiatives. Conversely, 77% would discontinue using a brand due to its negative environmental and social practices. Notably, 67% of consumers in KSA have ceased using a brand due to its negative environmental and social activities, surpassing the global average of 55%.

Consumer Health and Well-being

53% of KSA consumers acknowledge that the escalating cost of living is impacting their health and well-being, compared to 47% globally. Concurrently, 76% are actively seeking more cost-effective solutions for health, wellness, and fitness. 82% believe that brands should offer better information on the health and well-being implications of their products, while 81% advocate for food and drink brands to provide a broader range of healthy options. Consumers also express a desire for enhanced availability of healthy food and beverages during their shopping experiences, with 77% emphasizing the importance of sustainability and the environmental impact of health and wellness products.

Elaborating on these findings, Georges Akkaoui, Regional Director, Middle East and Africa at Toluna, noted, "In today's dynamic consumer landscape, characterized by economic uncertainties and shifting priorities, the insights gleaned from our Global Barometer Wave 24 report underscore a significant paradigm shift in consumer behavior, particularly evident in the KSA market. As financial pressures continue to shape consumer decisions, brands must remain agile and adaptive, ensuring they stay abreast of evolving sentiments. It is evident that consumers in KSA are actively making deliberate choices to manage their finances, as evidenced by their reduced spending on social activities and luxury items.

What's particularly striking," Akkaoui continued, "is the growing emphasis on health and well-being among KSA consumers. A substantial proportion express a desire for healthier options and greater transparency from brands in terms of product information and brand values; therefore, by demonstrating sincerity, authenticity, and a commitment to social and environmental responsibility, brands can forge deeper connections with consumers, driving meaningful engagement that resonates long-term."

-Ends-

About Toluna

Toluna is a leading market research, technology, and consumer insights consultancy group.

We empower leading brands and agencies to conduct research without limits by unifying the best technology, research science, global panel, and a made-to-measure service to scale your business.

We combine the expertise of our subsidiary brands - Toluna, Harris Interactive, MetrixLab and KunRun Data - to deliver research projects and programmes to global and regional leading brands across the globe. 

Together, we strive to push the field of market research toward a better tomorrow.

Facts and figures

  • Toluna has proprietary online panels in 70 markets with 79 M+ highly engaged consumers.
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