Saudi consumers to spend more on grocery, reveals NielsenIQ study

Thirty-seven per cent of Saudi consumers are expecting to increase their spending on grocery and household items this year, according to the latest study by NielsenIQ.

The report highlights that 44 per cent of consumers surveyed are revving up to spend more on fresh produce. Health and wellness categories are in high demand among shoppers, with 40 per cent wanting to spend more on these items.

E-commerce shopping is also thriving, with 27 per cent claiming to go online – or on apps – to seek better deals and save on gas by reducing shopping trips. However, 24 per cent prefer to shop at brick-and-mortar stores with loyalty points.

NielsenIQ also indicates that 51 per cent of Saudi consumers are “very concerned” about finances, job security and mental and physical well-being.

The survey indicates that 38 per cent of Saudi consumers consider their household’s financial situation unchanged compared to a year ago, with 44 per cent claiming that they can afford whatever they want.

A third of local consumers reported they spend freely, which sets them above the global average of only 20 per cent, implying that even in the face of inflation, Saudi Arabia consumers feel positive about the future.

This year, a segment of Saudi consumers said they would put money towards future-oriented tasks like financial services – 30 per cent – and paying off debt- 28 per cent.