Saudi Arabia is ushering in a new era and innovating with digitization, and it is well on its way to becoming a global investment powerhouse. With sustainability at its heart, Saudi Arabia’s Vision 2030 is a catalyst for reform.
GfK, a global leader in the market and consumer intelligence is unveiling invaluable insights into the concerns, preferences, and habits of consumers in Saudi Arabia at Seamless Saudi Arabia 2023.
Seamless Saudi Arabia covers the latest innovations in payments, fintech, retail, e-commerce, home delivery, and digital marketing and is being held in Riyadh on September 4 to 5, 2023.
GfK, a leading provider of consumer and market intelligence, analytics, and consulting services will share consumer attitudes & behavior towards retail shopping and the future of payments.
The study sheds light deeply on the way people live and where they live in the Kingdom are being transformed under Vision 2030, as cities become more livable through increased green spaces, new experiences, and exposure to nature, leading to an improved quality of life.
According to Prachi Satoskar, Commercial Director,at GfK an NIQ Company, “Brands, and leaders must understand that sustainability does not always equate to premium. With a trusted, forward-thinking partner by your side, strategizing under extraordinary market and ecological pressures is more than possible. Brands must tap into unrivaled data science, business intelligence expertise, and AI-backed technology to find out how businesses can achieve its sustainability impact targets and drive growth.”
The GfK report also highlights that women consumers in the Kingdom are ‘traditional’ yet aspiring to ‘play’ an active role in society.
And 47 percent of Saudi consumers agree that experiences are more important than possessions, as they aspire to explore and indulge in the world outside the home.
The majority of Saudi consumers (68 percent) are ‘watchful’ about companies’ green motivations as sustainability plays an increased role in purchase decisions. Hence, green measures coupled with economic consideration are key to driving consumer adoption
Another highlight of the study is that Saudi women are in anchor roles and brands need to embrace inclusivity and integrate women’s stories into their brand campaigns and strategies.
Another takeaway is that by partnering with leisure and entertainment players, there is a huge potential in the ‘experience’ space — an opportunity to revamp loyalty and rewards programs.