The Saudi population will continue to rise going into 2040, as fertility rates and life expectancy remain high. Generation Alpha will comprise over a quarter of the population, showing great potential as a key consumer segment. Income inequality will continue to be a challenge, as the gender income gap persists due to low female employment. Consumers are expected to continue preferring niche and goods of the highest quality, even among lower-income segments.
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Overview:
Consumer Profiles reports provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.
The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.
The Consumer Profiles in Saudi Arabia report includes:
A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies
The Consumer Profiles in Saudi Arabia report answers:
- How consumers in Saudi Arabia are changing?
- What are key changes in Saudi Arabia population, society and generational structure and how it is affecting businesses?
- What is the household structure in Saudi Arabia and how it is changing consumer landscape?
- What are key income groups in Saudi Arabia? What is the outlook for the future?
- Where consumers are spending the money in Saudi Arabia?
- How is the consumer mindset in Saudi Arabia changing?
- In Saudi Arabia, what are consumer attitudes towards “green” and sustainable products?
- Where and how do consumers shop in Saudi Arabia?
Scope
Key findings
Key drivers affecting consumers in Saudi Arabia in 2023
How developments today shape the consumers of tomorrow
Today 2023: Foreign nationals comprise more than a third of the Saudi population
Millennials the most dominant generation in Saudi Arabia for 2023
Saudi’s at increasingly high risk for obesity, especially among females
Tomorrow 2040: Increasing life expectancy more than doubles number of Late Lifers by 2040
Gen Z set to dominate Saudi population by 2040
Riyadh set for massive population growth by 2040 as more people flock to cities
Opportunities for growth
Case study: Gucci’s Nojum collection contextualises the brand to local culture
Today 2023: Larger households remain the norm in Saudi Arabia
Average household size is on the decline in Saudi Arabia, due to increase in singletons
Apartments remain popular due to urbanisation and the growth of single person households
Tomorrow 2040: Single person households set for the fastest growth
Household heads to remain predominantly male
Saudi Arabia’s entire population has broadband internet access
Opportunities for growth
Case study: Amazon’s Alexa responds to local culture
Today 2023: Disposable income of men dwarfs that of women
Housing accounts for the bulk of Saudi Arabia’s consumer expenditure
Millennials are the most optimistic generation in Saudi Arabia
Tomorrow 2040: Rural incomes to reach near parity with urban earnings by 2040
Saudi’s per capita disposable income CAGR to be less than half that of the region to 2040
Saudi’s consumer expenditure to grow at a slower pace than other MENA territories
Opportunities for growth
Nahdi uses technology to make healthcare more convenient and personalised
Key findings of consumer survey
Younger generations more swayed by higher quality when buying household essentials
Nearly a third of Saudi consumers enjoy finding bargains
Gen X is the most eco-conscious generation in Saudi Arabia
Saudi consumers are more comfortable with their financial situation
High salaries remain top priority for workers in Saudi Arabia, particularly among Gen Z
Opportunities for growth
Case study: Tamara brings shariah-compliant BNPL financing to Saudi consumers
Key takeaways
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Gain a thorough knowledge of shifting consumer landscape and attitudes s and fill in information gaps to inform product/service development, market positioning and channel strategy.
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