Over three quarters of Saudi Arabia consumers (77 percent) have been purchasing online more since the global COVID-19 pandemic began, according to a new survey.
A MasterCard survey of 1,000 Saudi consumers showed that shoppers are moving away from cash and towards digital and contactless payments.
According to the survey, groceries, healthcare, apparel and banking products have seen the biggest surge in online demand.
More than 68 percent said they had shopped online for groceries, 73 percent for clothing, and 65 percent of respondents said they had purchased medicine online. And, 64 percent of respondents having started banking online.
The research also reveals the rising impact of social media on consumer spending habits, with 58 percent and 61 percent of respondents saying they had discovered new sellers through Facebook and Instagram respectively.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2020