The spending sentiment of Saudi consumers surged 46% in 2024 compared to 2023, as more citizens show heightened enthusiasm for special Ramadan events in stores, Ramadan brand editions, and shopping during the festive season.

Around 64% of consumers in the kingdom view Ramadan as an auspicious month for new purchases compared to 55% in 2023, while special offers and prices remain the top two factors influencing shopping destinations, according to a study by Toluna in partnership with MetrixLab.

Named “2024 Ramadan and Eid al-Fitr Insights”, the study delves deep into consumer behaviour, unveiling significant shifts and emerging trends.

Impact of Winter Ramadan on Spending Behavior

There has been a noticeable shift in consumer behaviour trends in Saudi Arabia. In 2024, 24% of residents prioritised outlets' convenient locations, up from 18% in 2023. Additionally, 45% emphasize the allure of offers and promotions, while 21% value the convenience of free home delivery.

The anticipation surrounding Winter Ramadan is palpable, with 53% expressing excitement due to the availability of multiple outdoor options during the holy month.

Consumers are gearing up to indulge in traditional treats, with 43% expecting to consume more dates and 41% looking forward to hot beverages, chocolates, and sweets.

Moreover, there's a notable shift in beauty and personal care routines, with increased use of moisturizers and hair care products compared to the Summer Ramadan months.

Consumer Expectations from Brands & Banks
In KSA, consumers are gravitating towards brands offering enticing discounts, with 56% expressing interest, 44% preferring more quantity for the same price, and 41% seeking bundle offers.

On the banking front, residents are seeking offers related to shopping (54%), discounts on flights (42%), and incentives for new credit card sign-ups (41%).

Notably, there's a heightened interest in advantageous offers on car loans, with 38% expressing increased interest.

Shopping and Activities Planning Around Ramadan & Eid

Residents strategically plan purchases before Ramadan, focusing on groceries, household cleaning supplies, and home décor. Eid gift shopping is set to span the entire holy month, with specific plans outlined.

Before Ramadan, 66% intend to purchase bulk groceries, while 64% plan to acquire bulk household cleaning items.

Additionally, 31% aim to shop for new outfits for Iftars/Eid, with 55% planning to purchase new home décor for Ramadan/Eid.

Eid Festivities: Consumer Engagement

A significant portion of KSA residents, around 82%, express heightened interest in visiting malls for shopping activities during Eid. This enthusiasm extends to various activities, including visiting relatives and friends (82%), exploring shopping malls (76%), fine dining or restaurant visits (75%), engaging in cultural activities (56%), visiting theme parks (65%), travelling abroad (49%), and attending concerts, live shows, and events (43%).

Approximately 48% of KSA consumers plan to buy the same as before from local brands, primarily groceries (60%), apparel (51%), fragrances (50%), household cleaning items (40%), dining out at fast-food restaurants (52%), and coffee shops (45%).

Moreover, a significant majority of KSA residents, accounting for 92%, plan to purchase Eid gifts for their children, spouses, and parents.

Fragrances (59%), chocolate, dates, and sweets (49%), money (48%), and toys and games (36%) are among the preferred gift choices. Notably, 47% intend to spend more on Eid gifts compared to the previous year.

Brand Communications and Social Media Engagement

Residents anticipate spending less time on specific social media platforms during Ramadan in 2024 compared to 2023, including Telegram (34%), X (previously Twitter) and TikTok (32%), and Instagram (33%).

However, there's a noticeable increase in interest in brand communications during Ramadan, with 51% expressing keen interest in promotions and offers. Additionally, 41% prefer information about feeling connected/family-oriented content.

George Akkaoui, Enterprise Accounts Manager and Head of the Middle East and Africa Office at Toluna, said: “As we delve into the rich insights derived from the 2024 Ramadan & Eid al-Fitr study, a profound narrative of consumer behaviour in KSA unfolds. The data not only unveils the evolving trends but also serves as a compass guiding businesses through the intricate landscape of consumer expectations.”

“You can infer the strategic planning evident in residents' pre-Ramadan purchases, the nuanced shifts in gifting preferences, and the amplified resonance of brand communications in the digital sphere. As Ramadan transitions into the winter months, the study becomes a cornerstone for understanding the subtle dance between tradition and adaptation in consumer choices,” Akkaoui explained.

He added: “These findings underscore the imperative for businesses not only to acknowledge but embrace the evolving consumer mindset, tailoring strategies that resonate with the pulse of KSA residents during this festive season”.

All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (