{"id":16819,"date":"2022-03-04T14:29:57","date_gmt":"2022-03-04T14:29:57","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=16819"},"modified":"2022-07-23T09:46:20","modified_gmt":"2022-07-23T09:46:20","slug":"16819","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/03\/04\/16819\/","title":{"rendered":"Consumers no longer willing to compromise on quality, says report\u00a0"},"content":{"rendered":"


\nConsumers value quality and convenience, a report by Bain & Company Middle East and NielsenIQ says.\u00a0<\/span>\u00a0<\/span><\/p>\n

The consultancy firm and data and market measurement company found consumers in the UAE, Saudi Arabia and Egypt have shifted their focus from solely prioritising cost. <\/span>\u00a0<\/span><\/p>\n

Prior to the Covid-19 pandemic, consumers were willing to compromise on quality for lower p<\/span>rices. Today, however, consumers are willing to pay premium prices for assured quality.\u00a0<\/span>\u00a0<\/span><\/p>\n

They also prefer e-commerce to shopping in brick-and-mortar stores.\u00a0<\/span>\u00a0<\/span><\/p>\n

The February report analysed 1.4 billion online posts and reviews about retail habits by consumers.<\/span>\u00a0<\/span><\/p>\n

Data was collected over the past three years.\u00a0<\/span>\u00a0<\/span><\/p>\n

Mike Gerousis, an analytics leader for Saudi Arabia, Africa & Levant at NielsenIQ, said: \u201cCompanies are accelerating to meet the changing needs of consumers in the region.<\/span>\u00a0<\/span><\/p>\n

\u201cThose that make the best-informed decisions and take a systematic and rigorous approach to turning the flow of data into profitable growth, will be the ones that outperform.\u201d<\/span>\u00a0<\/span><\/p>\n

By the end of this year, online retail in the Middle East will rake in $48.6 billion in sales, according to e-commerce specialist, Go Gulf. This will be an 81 per cent increase over four years, with e-commerce sales at $26.9 billion in 2018. <\/span>\u00a0<\/span><\/p>\n

Consumers\u2019 priorities have shifted, says Faisal Sheikh, a partner in Bain & Company\u2019s Middle East\u2019s Consumer Products and Retail Practices.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cCustomers in the region have changed: conscious consumers are optimising their budgets without compromising on quality,\u201d he said.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cMore than 60% in the UAE and Saudi Arabia are willing to put a premium for quality; it is undeniable that the pandemic has made convenience paramount that shoppers are willing to pay extra for it.\u201d<\/span>\u00a0<\/span><\/p>\n

Cyrill Fabre, head of Bain & Co, says people don\u2019t just rely on the internet for news.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cThe pandemic has accelerated the rise of digital beyond merely looking for information. The FMCG e-commerce market has nearly doubled in the past three years.<\/span>\u00a0<\/span><\/p>\n

\u201cNearly 50% of shoppers in the UAE have visited an e-commerce site in the past seven days, a significant increase from last year.\u201d<\/span>\u00a0<\/span><\/p>\n

With Middle East customers relying more on e-commerce, the region has increased its global market penetration, Go Gulf says.\u00a0<\/span>\u00a0<\/span><\/p>\n

As we emerge from the global pandemic, retailers will be keen to see if customers continue to value quality and convenience or revert to prioritising cost.\u00a0<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

E-commerce favoured over in-store purchases with quality prioritised over price. <\/p>\n","protected":false},"author":39,"featured_media":17792,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[154,1],"tags":[3991,3973,3992,3988,2683,3966],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/16819"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=16819"}],"version-history":[{"count":4,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/16819\/revisions"}],"predecessor-version":[{"id":17158,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/16819\/revisions\/17158"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/17792"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=16819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=16819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=16819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}